EastGroup Properties (NYSE:EGP – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $8.28-8.38 for the period, compared to the consensus EPS estimate of $8.32. EastGroup Properties also updated its Q3 guidance to $2.06-2.12 EPS.
Wall Street Analyst Weigh In
EGP has been the subject of a number of recent research reports. Evercore ISI dropped their price target on shares of EastGroup Properties from $190.00 to $178.00 and set an in-line rating for the company in a research note on Thursday, April 25th. BNP Paribas initiated coverage on EastGroup Properties in a research note on Tuesday, June 4th. They issued a neutral rating and a $167.00 price target on the stock. Wedbush upgraded EastGroup Properties from a neutral rating to an outperform rating and raised their price target for the stock from $162.00 to $208.00 in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on EastGroup Properties from $190.00 to $183.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Finally, Mizuho reduced their target price on EastGroup Properties from $185.00 to $175.00 and set a neutral rating on the stock in a report on Friday, May 31st. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $182.75.
View Our Latest Stock Report on EastGroup Properties
EastGroup Properties Stock Down 0.7 %
EastGroup Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $1.27 per share. The ex-dividend date was Friday, June 28th. This represents a $5.08 annualized dividend and a dividend yield of 2.67%. EastGroup Properties’s dividend payout ratio is currently 110.20%.
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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