EastGroup Properties, Inc. (NYSE:EGP) Plans $1.55 Quarterly Dividend

EastGroup Properties, Inc. (NYSE:EGP) declared a quarterly dividend on Thursday, May 21st. Shareholders of record on Tuesday, June 30th will be given a dividend of 1.55 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th.

EastGroup Properties has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. EastGroup Properties has a payout ratio of 117.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect EastGroup Properties to earn $10.20 per share next year, which means the company should continue to be able to cover its $6.20 annual dividend with an expected future payout ratio of 60.8%.

EastGroup Properties Stock Up 0.0%

NYSE EGP opened at $205.07 on Friday. The stock has a market cap of $11.02 billion, a PE ratio of 37.28, a P/E/G ratio of 3.09 and a beta of 1.05. EastGroup Properties has a fifty-two week low of $159.37 and a fifty-two week high of $206.78. The business has a 50 day moving average price of $194.87 and a two-hundred day moving average price of $187.51. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. The firm had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.EastGroup Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, sell-side analysts predict that EastGroup Properties will post 9.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EGP. KeyCorp upped their price target on EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Citigroup upped their price target on EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Piper Sandler upped their price target on EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Royal Bank Of Canada increased their target price on EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 28th. Finally, Morgan Stanley increased their target price on EastGroup Properties from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average target price of $205.33.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.