EastGroup Properties (NYSE:EGP – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 8.280-8.380 for the period, compared to the consensus earnings per share estimate of 8.290. The company issued revenue guidance of -. EastGroup Properties also updated its FY24 guidance to $8.28-8.38 EPS.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on EastGroup Properties from $190.00 to $183.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. BNP Paribas assumed coverage on EastGroup Properties in a research report on Tuesday, June 4th. They set a neutral rating and a $167.00 price objective for the company. Wedbush raised EastGroup Properties from a neutral rating to an outperform rating and boosted their price target for the company from $162.00 to $208.00 in a report on Monday. Mizuho cut their price target on EastGroup Properties from $185.00 to $175.00 and set a neutral rating for the company in a report on Friday, May 31st. Finally, Barclays dropped their price objective on EastGroup Properties from $181.00 to $175.00 and set an equal weight rating for the company in a research note on Monday, April 29th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $182.75.
Read Our Latest Stock Report on EGP
EastGroup Properties Stock Down 0.6 %
EastGroup Properties Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.67%. EastGroup Properties’s dividend payout ratio is currently 110.20%.
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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