EastGroup Properties (NYSE:EGP) declared a quarterly dividend on Wednesday, May 29th, AnalystRatings.Net reports. Stockholders of record on Friday, June 14th will be given a dividend of $0.53 per share on Friday, June 28th. This represents a $2.12 dividend on an annualized basis and a yield of 3.54%.
A number of research firms have also recently commented on EGP. Analysts at BMO Capital Markets raised their price target on shares of EastGroup Properties from $56.00 to $68.00 in a research note to investors on Friday, May 17th. They now have a “market perform” rating on the stock. On the ratings front, analysts at Raymond James raised their price target on shares of EastGroup Properties from $61.00 to $65.00 in a research note to investors on Monday, April 22nd. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley upgraded shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, April 16th.
Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.67.
EastGroup Properties (NYSE: EGP) opened at 60.81 on Thursday. EastGroup Properties has a 52-week low of $46.75 and a 52-week high of $66.99. The stock’s 50-day moving average is currently $62.85. The company has a market cap of $1.823 billion and a price-to-earnings ratio of 51.89.
EastGroup Properties (NYSE: EGP) last announced its earnings results on Thursday, April 18th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by $0.01. The company had revenue of $48.30 million for the quarter, compared to the consensus estimate of $47.24 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. EastGroup Properties has set its Q2 guidance at $0.76-0.78 EPS and its FY13 guidance at $3.10-3.20 EPS. On average, analysts predict that EastGroup Properties will post $3.15 earnings per share for the current fiscal year.
EastGroup Properties, Inc. (NYSE: EGP) is an equity real estate investment trust (REIT).