Eastgroup Properties Inc (NYSE:EGP) had declared a cash dividend of $0.6200 on Sep 16, 2016. The shares will quote ex-dividend on Sep 15, 2016 and the record date has been fixed for Sep 19, 2016. On Sep 16, 2016 share price, the yield comes out to be 3.5434%. The dividend payable date has been fixed on Sep 30, 2016.
In a different note, On Sep 6, 2016, Morgan Stanley said it Assumes its rating on Eastgroup Properties Inc. The shares have been rated ‘Underweight’ by the firm. BTIG Research said it Initiates Coverage on Eastgroup Properties Inc, according to a research note issued on Aug 25, 2016. The shares have been rated ‘Neutral’ by the firm. On Jul 22, 2016, Stifel Nicolaus said it Downgrades its rating on Eastgroup Properties Inc. The shares have been rated ‘Hold’ by the firm. On Jul 22, 2016, Sandler O’Neill said it Downgrades its rating on Eastgroup Properties Inc. The shares have been rated ‘Hold’ by the firm. On Jul 15, 2016, KeyBanc said it Upgrades its rating on Eastgroup Properties Inc. The shares have been rated ‘Sector Weight’ by the firm. On Jul 7, 2016, Citigroup said it Maintains its rating on Eastgroup Properties Inc. In the research note, the firm Raises the price-target to $67.00 per share. The shares have been rated ‘Buy’ by the firm.
Eastgroup Properties Inc (EGP) made into the market gainers list on Thursdays trading session with the shares advancing 1.45% or 1.05 points. Due to strong positive momentum, the stock ended at $73.61, which is also near the day’s high of $73.83. The stock began the session at $73.22 and the volume stood at 1,99,254 shares. The 52-week high of the shares is $76 and the 52 week low is $49.31. The company has a current market capitalization of $2,421 M and it has 3,28,88,048 shares in outstanding.
Eastgroup Properties Inc(EGP) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $61.92M. Analysts had an estimated revenue of $61.53M. Earnings per share were $0.99. Analysts had estimated an EPS of $0.99.
Several Insider Transactions has been reported to the SEC. On Aug 18, 2016, Brent Wood (Senior Vice President) sold 3,400 shares at $72.22 per share price.Also, On Aug 11, 2016, David H Ii Hoster (director) sold 10,000 shares at $73.01 per share price.On Jun 29, 2016, H C Jr Bailey (director) sold 1,339 shares at $67.30 per share price, according to the Form-4 filing with the securities and exchange commission.
EastGroup Properties Inc. (EastGroup) is an equity real estate investment trust (REIT). The Company is focused on the development acquisition and operation of industrial properties in Sunbelt markets throughout the United States. EastGroup holds its properties as long-term investments. The Company owns approximately 307 industrial properties and one office building. These properties are located in the Sunbelt states of Florida Texas Arizona California and North Carolina. EastGroup’s portfolio is approximately 96.3% leased and 96.0% occupied. The Company has developed approximately 37% of its total portfolio (on a square foot basis) including real estate properties and development properties in lease-up and under construction. The Company’s focus is the ownership of business distribution space (80% of the total portfolio) with the remainder in bulk distribution space (16%) and business service space (4%).