EastGroup Properties (NYSE:EGP – Get Free Report) released 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. EastGroup Properties had a net margin of 37.16% and a return on equity of 8.69%. The business had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. During the same period last year, the business earned $1.95 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year.
EastGroup Properties Price Performance
Shares of NYSE:EGP traded down $2.00 on Friday, reaching $176.53. The company’s stock had a trading volume of 540,195 shares, compared to its average volume of 297,741. The company has a 50-day simple moving average of $184.18 and a 200 day simple moving average of $175.43. EastGroup Properties has a 52-week low of $155.23 and a 52-week high of $192.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.21 and a current ratio of 0.21. The company has a market cap of $8.50 billion, a P/E ratio of 38.60, a PEG ratio of 2.65 and a beta of 0.99.
EastGroup Properties Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.40 per share. The ex-dividend date was Monday, September 30th. This represents a $5.60 annualized dividend and a yield of 3.17%. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.27. EastGroup Properties’s dividend payout ratio (DPR) is 121.48%.
Wall Street Analyst Weigh In
View Our Latest Analysis on EastGroup Properties
EastGroup Properties Company Profile
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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