Wall Street analysts predict that EastGroup Properties, Inc. (NYSE:EGP) will report sales of $93.96 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for EastGroup Properties’ earnings, with estimates ranging from $92.67 million to $94.80 million. EastGroup Properties reported sales of $88.63 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6%. The company is scheduled to issue its next earnings report on Thursday, April 29th.
According to Zacks, analysts expect that EastGroup Properties will report full year sales of $387.11 million for the current fiscal year, with estimates ranging from $375.46 million to $392.55 million. For the next financial year, analysts expect that the company will post sales of $410.13 million, with estimates ranging from $381.07 million to $424.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover EastGroup Properties.
EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Monday, February 8th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.33. EastGroup Properties had a return on equity of 9.94% and a net margin of 33.84%. The firm had revenue of $92.70 million during the quarter, compared to the consensus estimate of $93.05 million. During the same period in the prior year, the firm earned $1.27 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV lifted its position in shares of EastGroup Properties by 2.4% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 3,492 shares of the real estate investment trust’s stock worth $452,000 after purchasing an additional 83 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of EastGroup Properties by 1.0% during the third quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the real estate investment trust’s stock worth $1,267,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of EastGroup Properties by 0.7% during the third quarter. State of Michigan Retirement System now owns 14,319 shares of the real estate investment trust’s stock worth $1,852,000 after purchasing an additional 100 shares during the last quarter. Amalgamated Bank lifted its position in shares of EastGroup Properties by 2.1% during the fourth quarter. Amalgamated Bank now owns 6,319 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 131 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in EastGroup Properties by 94.7% in the third quarter. Harbor Investment Advisory LLC now owns 331 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 161 shares during the last quarter. 92.55% of the stock is currently owned by institutional investors and hedge funds.
NYSE:EGP traded up $0.64 on Tuesday, reaching $140.87. The stock had a trading volume of 176,406 shares, compared to its average volume of 186,457. The company has a 50-day moving average of $139.56 and a 200 day moving average of $137.04. The stock has a market cap of $5.59 billion, a P/E ratio of 45.24, a price-to-earnings-growth ratio of 3.81 and a beta of 0.72. EastGroup Properties has a 12-month low of $83.40 and a 12-month high of $153.26.
EastGroup Properties Company Profile
EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
Read More: How accurate is the Rule of 72?
Get a free copy of the Zacks research report on EastGroup Properties (EGP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for EastGroup Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EastGroup Properties and related companies with MarketBeat.com's FREE daily email newsletter.
