EastGroup Properties (NYSE:EGP – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 8.170-8.370 for the period, compared to the consensus estimate of 8.330. The company issued revenue guidance of -. EastGroup Properties also updated its FY24 guidance to $8.17-$8.37 EPS.
EastGroup Properties Trading Down 4.3 %
NYSE EGP traded down $7.10 during trading hours on Wednesday, hitting $158.65. 446,497 shares of the company’s stock were exchanged, compared to its average volume of 283,247. The business’s 50 day moving average is $176.44 and its 200-day moving average is $175.37. EastGroup Properties has a 12-month low of $154.75 and a 12-month high of $188.85. The firm has a market capitalization of $7.62 billion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 2.59 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.28 and a current ratio of 0.28.
EastGroup Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $1.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 annualized dividend and a yield of 3.20%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.19%.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on EastGroup Properties
Insider Buying and Selling at EastGroup Properties
In other news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the transaction, the chief financial officer now owns 102,617 shares in the company, valued at approximately $18,752,230.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.
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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