EastGroup Properties (NYSE:EGP – Get Free Report) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97), Yahoo Finance reports. The firm had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a return on equity of 8.69% and a net margin of 37.16%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.95 earnings per share.
EastGroup Properties Stock Performance
Shares of EGP stock traded down $2.00 during midday trading on Friday, hitting $176.53. 540,198 shares of the company were exchanged, compared to its average volume of 297,799. EastGroup Properties has a 52 week low of $155.23 and a 52 week high of $192.61. The firm has a market capitalization of $8.50 billion, a P/E ratio of 38.60, a PEG ratio of 2.65 and a beta of 0.99. The firm’s 50 day moving average price is $184.18 and its two-hundred day moving average price is $175.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.21 and a current ratio of 0.21.
EastGroup Properties Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.40 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.27. This represents a $5.60 annualized dividend and a dividend yield of 3.17%. EastGroup Properties’s dividend payout ratio is presently 121.48%.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on EastGroup Properties
About EastGroup Properties
EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, 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.
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