About Eastgroup Properties (NYSE:EGP)
EastGroup Properties, Inc. is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina. The Company holds its properties as long-term investments but may determine to sell certain properties that no longer meet its investment criteria. The Company may provide financing in connection with such sales of property if market conditions require. In addition, the Company may provide financing to a partner or co-owner in connection with an acquisition of real estate in certain situations. The Company owned 327 industrial properties and one office building as of December 31, 2016. The Company's properties in North Carolina include Lindbergh Business Park, Nations Ford Business Park and Airport Commerce Center in Charlotte area.
Industry, Sector and Symbol
Industry REAL ESTATE
Trailing P/E Ratio19.51
Forward P/E Ratio18.26
Sales & Book Value
Annual Sales$274.15 million
Price / Sales10.44
Cash Flow$4.81 per share
Price / Cash17.13
Book Value$21.82 per share
Price / Book3.77
Net Income$83.18 million
Return on Equity11.58%
Return on Assets4.39%
Eastgroup Properties (NYSE:EGP) Frequently Asked Questions
What is Eastgroup Properties' stock symbol?
Eastgroup Properties trades on the New York Stock Exchange (NYSE) under the ticker symbol "EGP."
How often does Eastgroup Properties pay dividends? What is the dividend yield for Eastgroup Properties?
Eastgroup Properties declared a quarterly dividend on Friday, March 2nd. Stockholders of record on Wednesday, March 21st will be given a dividend of $0.64 per share on Friday, March 30th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, March 20th. View Eastgroup Properties' Dividend History.
How were Eastgroup Properties' earnings last quarter?
Eastgroup Properties Inc (NYSE:EGP) announced its quarterly earnings data on Wednesday, January, 31st. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The real estate investment trust had revenue of $71.36 million for the quarter, compared to analyst estimates of $69.66 million. Eastgroup Properties had a net margin of 30.34% and a return on equity of 11.58%. Eastgroup Properties's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 earnings per share. View Eastgroup Properties' Earnings History.
When will Eastgroup Properties make its next earnings announcement?
What guidance has Eastgroup Properties issued on next quarter's earnings?
Eastgroup Properties issued an update on its FY18 earnings guidance on Wednesday, January, 31st. The company provided earnings per share (EPS) guidance of $4.45-4.55 for the period, compared to the Thomson Reuters consensus estimate of $4.47. Eastgroup Properties also updated its Q1 guidance to $1.11 EPS.
Where is Eastgroup Properties' stock going? Where will Eastgroup Properties' stock price be in 2018?
12 equities research analysts have issued 12-month price objectives for Eastgroup Properties' stock. Their forecasts range from $70.00 to $103.00. On average, they anticipate Eastgroup Properties' stock price to reach $86.73 in the next year. View Analyst Ratings for Eastgroup Properties.
What are Wall Street analysts saying about Eastgroup Properties stock?
Here are some recent quotes from research analysts about Eastgroup Properties stock:
- 1. According to Zacks Investment Research, "EastGroup Properties is a self-administered real estate investment trust focused on ownership, acquisition and selective development of industrial properties. The company pursues a three-pronged investment strategy that includes: the acquisition of industrial properties at favorable initial yields, with opportunities to improve cash flow performance through management; selective development of industrial properties in markets where they already has a presence and where market conditions justify such investments; and the acquisition of existing public & private companies. " (1/31/2018)
- 2. Cantor Fitzgerald analysts commented, "3Q FFO/sh. at $1.08 was inline with Cantor/Consensus (FactSet). The line- item variance to our estimates includes higher income from real estate operations (+$0.02) offset by higher real estate expenses (+$0.01) and interest expense (+ $0.01). GAAP rental rates (new and renewal) were up 20.9% vs. 13.9% in 2Q and occupancy and % leased were strong at 95.6% and 97.4%. GAAP SSNOI was up 3.1% vs. 2.5% in 2Q, with further seq." (10/20/2017)
Who are some of Eastgroup Properties' key competitors?
Some companies that are related to Eastgroup Properties include New Residential Investment (NRZ), American Homes 4 Rent (AMH), Starwood Property Trust (STWD), DCT Industrial Trust (DCT), Omega Healthcare Investors (OHI), Healthcare Trust Of America (HTA), Hudson Pacific Properties (HPP), CubeSmart (CUBE), Brookfield Property Partners (BPY), American Campus Communities (ACC), CyrusOne (CONE), STORE Capital (STOR), Medical Properties Trust (MPW), Brixmor Property Group (BRX), Highwoods Properties (HIW), Derwent London (DWVYF), Shaftesbury (SHABF) and EPR Properties (EPR).
Who are Eastgroup Properties' key executives?
Eastgroup Properties' management team includes the folowing people:
- David H. Hoster II, Independent Chairman of the Board (Age 71)
- Marshall A. Loeb, President, Chief Executive Officer, Director (Age 54)
- Brent W. Wood, Chief Financial Officer, Executive Vice President (Age 47)
- John F. Coleman, Executive Vice President (Age 57)
- C. Bruce Corkern CPA, Senior Vice President, Chief Accounting Officer, Controller, Assistant Secretary (Age 55)
- Ryan Collins, Senior Vice President
- Reid Dunbar, Senior Vice President
- Staci H. Tyler, Controller
- Leland R. Speed, Chairman Emeritus (Age 84)
- H. Eric Bolton Jr., Lead Independent Director (Age 60)
Has Eastgroup Properties been receiving favorable news coverage?
News coverage about EGP stock has been trending somewhat positive recently, according to Accern Sentiment. The research group identifies positive and negative news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Eastgroup Properties earned a media sentiment score of 0.23 on Accern's scale. They also gave media headlines about the real estate investment trust an impact score of 45.83 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company's share price in the next few days.
Who are Eastgroup Properties' major shareholders?
Eastgroup Properties' stock is owned by many different of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (15.67%), Deutsche Bank AG (4.29%), Earnest Partners LLC (2.36%), Goldman Sachs Group Inc. (2.21%), Bank of New York Mellon Corp (1.41%) and Schwab Charles Investment Management Inc. (1.16%). Company insiders that own Eastgroup Properties stock include Brent Wood, Bruce Corkern, David H Hoster II, Fredric H Gould, H C Bailey Jr, H Eric Bolton Jr, Hayden C Eaves III and John F Coleman. View Institutional Ownership Trends for Eastgroup Properties.
Which institutional investors are selling Eastgroup Properties stock?
EGP stock was sold by a variety of institutional investors in the last quarter, including Deutsche Bank AG, Macquarie Group Ltd., Teacher Retirement System of Texas, Bank of New York Mellon Corp, Foster & Motley Inc., SG Americas Securities LLC, Metropolitan Life Insurance Co. NY and Pinebridge Investments L.P.. Company insiders that have sold Eastgroup Properties company stock in the last year include Brent Wood, Bruce Corkern, David H Hoster II, H C Bailey Jr, Hayden C Eaves III and John F Coleman. View Insider Buying and Selling for Eastgroup Properties.
Which institutional investors are buying Eastgroup Properties stock?
EGP stock was acquired by a variety of institutional investors in the last quarter, including Earnest Partners LLC, BlackRock Inc., Renaissance Technologies LLC, Goldman Sachs Group Inc., Arizona State Retirement System, Amundi Pioneer Asset Management Inc., Wells Fargo & Company MN and Schwab Charles Investment Management Inc.. Company insiders that have bought Eastgroup Properties stock in the last two years include Fredric H Gould and H Eric Bolton Jr. View Insider Buying and Selling for Eastgroup Properties.
How do I buy shares of Eastgroup Properties?
Shares of EGP can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Eastgroup Properties' stock price today?
One share of EGP stock can currently be purchased for approximately $82.35.
How big of a company is Eastgroup Properties?
Eastgroup Properties has a market capitalization of $2.89 billion and generates $274.15 million in revenue each year. The real estate investment trust earns $83.18 million in net income (profit) each year or $2.43 on an earnings per share basis. Eastgroup Properties employs 71 workers across the globe.
How can I contact Eastgroup Properties?
Eastgroup Properties' mailing address is 400 W PARKWAY PLACE SUITE 100, RIDGELAND MS, 39157. The real estate investment trust can be reached via phone at 601-354-3555 or via email at [email protected]
MarketBeat Community Rating for Eastgroup Properties (EGP)MarketBeat's community ratings are surveys of what our community members think about Eastgroup Properties and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Eastgroup Properties (NYSE:EGP) Analysts' Consensus Rating (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Today||30 Days Ago||90 Days Ago||180 Days Ago|
|Consensus Rating: ||Hold||Hold||Hold||Hold|
|Consensus Rating Score: ||2.08||2.08||2.00||2.18|
|Ratings Breakdown: ||1 Sell Rating(s)|
9 Hold Rating(s)
2 Buy Rating(s)
0 Strong Buy Rating(s)
|1 Sell Rating(s)|
9 Hold Rating(s)
2 Buy Rating(s)
0 Strong Buy Rating(s)
|2 Sell Rating(s)|
9 Hold Rating(s)
2 Buy Rating(s)
0 Strong Buy Rating(s)
|1 Sell Rating(s)|
7 Hold Rating(s)
3 Buy Rating(s)
0 Strong Buy Rating(s)
|Consensus Price Target: ||$86.73||$86.73||$87.36||$82.22|
|Price Target Upside: ||5.32% upside||7.39% upside||4.00% downside||7.83% downside|
Eastgroup Properties (NYSE:EGP) Consensus Price Target History
Eastgroup Properties (NYSE:EGP) Analyst Ratings History
(Data available from 3/22/2016 forward)
Eastgroup Properties (NYSE:EGP) Earnings History and Estimates Chart
Eastgroup Properties (NYSE EGP) Earnings History by Quarter
(Earnings results data provided by Zacks Investment Research)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|1/31/2018||Q4 2017||$0.49||$0.51||$69.66 million||$71.36 million||View||Listen|
|10/19/2017||Q3 2017||$0.47||$1.08||$68.74 million||$68.75 million||View||N/A|
|7/25/2017||Q2 2017||$0.45||$1.05||$67.16 million||$67.90 million||View||N/A|
|4/20/2017||Q1 2017||$0.35||$0.99||$66.76 million||$66.15 million||View||N/A|
|2/1/2017||Q416||$1.07||$0.46||$63.87 million||$66.35 million||View||Listen|
|10/19/2016||Q316||$1.04||$1.04||$62.41 million||$63.19 million||View||N/A|
|7/20/2016||Q216||$0.99||$0.99||$61.53 million||$61.92 million||View||N/A|
|4/20/2016||Q116||$0.93||$0.91||$61.54 million||$61.60 million||View||N/A|
|2/1/2016||Q415||$0.95||$0.94||$59.48 million||$61.02 million||View||N/A|
|10/15/2015||Q315||$0.94||$0.94||$58.73 million||$58.50 million||View||Listen|
|7/16/2015||Q215||$0.91||$0.92||$58.17 million||$57.80 million||View||Listen|
|4/16/2015||Q115||$0.87||$0.87||$57.70 million||$57.58 million||View||N/A|
|2/2/2015||Q314||$0.91||$0.91||$56.70 million||$57.24 million||View||N/A|
|10/16/2014||Q214||$0.88||$0.89||$54.89 million||$55.96 million||View||N/A|
|7/17/2014||Q114||$0.85||$0.84||$53.24 million||$53.80 million||View||N/A|
|4/16/2014||Q1 2014||$0.81||$0.82||$53.29 million||$52.80 million||View||N/A|
|2/11/2014||Q413||$0.84||$0.84||$51.53 million||$53.70 million||View||N/A|
|10/17/2013||Q313||$0.82||$0.83||$50.00 million||$51.25 million||View||N/A|
|7/18/2013||Q213||$0.77||$0.80||$48.09 million||$49.20 million||View||N/A|
|4/18/2013||Q113||$0.77||$0.76||$47.24 million||$48.30 million||View||N/A|
|2/12/2013||Q412||$0.78||$0.78||$47.34 million||$46.88 million||View||N/A|
Eastgroup Properties (NYSE:EGP) Earnings Estimates
2018 EPS Consensus Estimate: $4.56
2019 EPS Consensus Estimate: $4.70
(Earnings estimates data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Eastgroup Properties (NYSE:EGP) Dividend Information
|Dividend Growth:||14.50% (3 Year Average)|
|Payout Ratio:||105.35% (Trailing 12 Months of Earnings) |
56.76% (Based on This Year's Estimates)
54.47% (Based on Next Year's Estimates)
|Track Record:||6 Years of Consecutive Dividend Growth|
Eastgroup Properties (NYSE:EGP) Dividend History by Quarter
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Eastgroup Properties (NYSE EGP) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 2.90%
Institutional Ownership Percentage: 96.08%
Eastgroup Properties (NYSE EGP) Insider Trades by Quarter
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Shares Held After Transaction||Details|
|2/8/2018||Fredric H Gould||Director||Buy||3,000||$80.05||$240,150.00||13,688|| |
|12/8/2017||Bruce Corkern||Insider||Sell||3,586||$91.75||$329,015.50|| |
|12/7/2017||Brent Wood||CFO||Sell||3,300||$90.26||$297,858.00|| |
|12/4/2017||David H Hoster II||Director||Sell||12,250||$94.10||$1,152,725.00||173,880|| |
|11/7/2017||Hayden C Eaves III||Director||Sell||3,532||$92.14||$325,438.48|| |
|6/9/2017||David H Hoster II||Director||Sell||1,259||$84.00||$105,756.00||186,130|| |
|5/23/2017||H C Bailey Jr||Director||Sell||850||$81.31||$69,113.50||3,082|| |
|5/22/2017||John F. Coleman||Insider||Sell||5,000||$80.56||$402,800.00|| |
|4/25/2017||Brent Wood||Insider||Sell||4,000||$78.72||$314,880.00|| |
|4/25/2017||David H Hoster II||Director||Sell||9,000||$78.82||$709,380.00||186,357|| |
|12/15/2016||H C Bailey Jr||Director||Sell||1,059||$71.80||$76,036.20||2,900|| |
|12/9/2016||H C Bailey Jr||Director||Sell||2,500||$73.34||$183,350.00||4,959|| |
|8/16/2016||Brent Wood||Insider||Sell||3,400||$72.22||$245,548.00|| |
|8/10/2016||David H Hoster II||Director||Sell||10,000||$73.01||$730,100.00||192,037|| |
|7/25/2016||Bruce Corkern||Insider||Sell||2,475||$71.40||$176,715.00|| |
|6/28/2016||H C Bailey Jr||Director||Sell||1,339||$67.30||$90,114.70||6,459|| |
|6/22/2016||David H Hoster II||Director||Sell||8,000||$68.00||$544,000.00||192,037|| |
|5/6/2016||David H Hoster II||Director||Sell||6,715||$62.51||$419,754.65||198,778|| |
|5/4/2016||David H Hoster II||Director||Sell||750||$62.05||$46,537.50||205,493|| |
|4/26/2016||H Eric Bolton Jr||Director||Buy||1,700||$59.95||$101,915.00||6,969|| |
|3/31/2016||David H Hoster II||Director||Sell||24,208||$60.01||$1,452,722.08||205,493|| |
|11/5/2015||Fredric H Gould||Director||Buy||4,000||$56.70||$226,800.00||14,919|| |
|6/23/2015||H C Bailey Jr||Director||Sell||1,800||$57.89||$104,202.00|| |
|5/8/2015||Fredric H Gould||Director||Buy||3,000||$58.58||$175,740.00|| |
|5/1/2015||Fredric H Gould||Director||Buy||1,300||$57.26||$74,438.00|| |
|3/10/2015||Fredric H Gould||Director||Buy||3,800||$58.60||$222,680.00|| |
|2/23/2015||David H Hoster II||CEO||Sell||6,400||$63.45||$406,080.00|| |
|2/10/2015||Hayden C Eaves III||Director||Sell||2,000||$61.89||$123,780.00|| |
|9/15/2014||H Eric Bolton Jr||Director||Buy||1,000||$62.00||$62,000.00|| |
|9/10/2014||Hayden C Eaves III||Director||Sell||1,500||$64.80||$97,200.00|| |
|7/22/2014||Hayden C Eaves III||Director||Sell||1,500||$64.96||$97,440.00|| |
|6/12/2014||H C Bailey Jr||Director||Sell||1,745||$64.42||$112,412.90|| |
|6/11/2014||Hayden C Eaves III||Director||Sell||1,106||$64.22||$71,027.32|| |
|4/21/2014||David Hoster II||CEO||Sell||5,220||$64.21||$335,176.20||235,121|| |
|2/19/2014||Hayden Eaves III||Director||Sell||3,444||$62.28||$214,492.32|| |
|2/18/2014||David Hoster II||CEO||Sell||16,012||$61.64||$986,979.68||216,359|| |
|12/30/2013||Bruce Corkern||SVP||Sell||1,257||$57.80||$72,654.60||47,729|| |
|7/23/2013||Hayden C Eaves III||Director||Sell||1,152||$63.19||$72,794.88|| |
|5/2/2013||David H Hoster II||CEO||Sell||5,069||$63.08||$319,752.52|| |
Eastgroup Properties (NYSE EGP) News Headlines
Eastgroup Properties (NYSE:EGP) SEC Filings
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Eastgroup Properties (NYSE:EGP) Income Statement, Balance Sheet and Cash Flow Statement
Eastgroup Properties (NYSE EGP) Stock Chart for Thursday, March, 22, 2018