Q3 2022 EPS Estimates for EastGroup Properties, Inc. (NYSE:EGP) Reduced by Jefferies Financial Group

EastGroup Properties, Inc. (NYSE:EGPGet Rating) – Equities research analysts at Jefferies Financial Group dropped their Q3 2022 earnings per share (EPS) estimates for EastGroup Properties in a research note issued on Tuesday, August 2nd. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will earn $1.71 per share for the quarter, down from their previous estimate of $1.76. Jefferies Financial Group currently has a “Hold” rating and a $144.00 target price on the stock. The consensus estimate for EastGroup Properties’ current full-year earnings is $6.89 per share. Jefferies Financial Group also issued estimates for EastGroup Properties’ Q3 2023 earnings at $1.81 EPS, Q4 2023 earnings at $1.86 EPS, FY2023 earnings at $7.26 EPS, Q1 2024 earnings at $1.85 EPS, Q2 2024 earnings at $1.89 EPS and FY2024 earnings at $7.57 EPS.

Other research analysts also recently issued reports about the company. Piper Sandler reduced their price objective on EastGroup Properties to $200.00 in a report on Monday, July 4th. Truist Financial reduced their price objective on EastGroup Properties from $200.00 to $175.00 and set a “hold” rating on the stock in a report on Tuesday, May 31st. Morgan Stanley reduced their price objective on EastGroup Properties from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, August 1st. Mizuho reduced their price objective on EastGroup Properties from $215.00 to $180.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Finally, Wells Fargo & Company reduced their price objective on EastGroup Properties from $184.00 to $170.00 and set an “equal weight” rating on the stock in a report on Monday, June 6th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $191.90.

EastGroup Properties Trading Up 0.1 %

Shares of NYSE EGP opened at $170.03 on Friday. The business’s 50 day moving average price is $159.76 and its 200-day moving average price is $179.79. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 3.26 and a beta of 0.87. EastGroup Properties has a fifty-two week low of $148.33 and a fifty-two week high of $229.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.04 and a current ratio of 0.04.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.59%. EastGroup Properties’s payout ratio is 85.60%.

Institutional Trading of EastGroup Properties

A number of institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System boosted its position in shares of EastGroup Properties by 401.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 46,265 shares of the real estate investment trust’s stock worth $7,140,000 after purchasing an additional 37,030 shares in the last quarter. M&T Bank Corp boosted its position in shares of EastGroup Properties by 37.1% in the 2nd quarter. M&T Bank Corp now owns 12,604 shares of the real estate investment trust’s stock worth $1,943,000 after purchasing an additional 3,411 shares in the last quarter. Better Money Decisions LLC acquired a new stake in shares of EastGroup Properties in the 2nd quarter worth $30,000. Illinois Municipal Retirement Fund lifted its position in EastGroup Properties by 136.8% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 5,259 shares of the real estate investment trust’s stock worth $812,000 after acquiring an additional 3,038 shares during the period. Finally, Hill Winds Capital LP acquired a new stake in EastGroup Properties during the 2nd quarter worth about $3,858,000. Institutional investors and hedge funds own 91.02% of the company’s stock.

About EastGroup Properties

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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.

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Earnings History and Estimates for EastGroup Properties (NYSE:EGP)

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