News headlines about Eastgroup Properties (NYSE:EGP) have trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Eastgroup Properties earned a daily sentiment score of 0.14 on Accern’s scale. Accern also assigned news headlines about the real estate investment trust an impact score of 45.9891088546197 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
A number of equities analysts recently weighed in on EGP shares. ValuEngine raised Eastgroup Properties from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Sandler O’Neill reaffirmed a “buy” rating and issued a $95.00 price target on shares of Eastgroup Properties in a report on Wednesday, February 7th. Mizuho reaffirmed a “hold” rating and issued a $90.00 price target on shares of Eastgroup Properties in a report on Sunday, February 4th. Zacks Investment Research cut Eastgroup Properties from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, SunTrust Banks raised Eastgroup Properties from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.42.
Eastgroup Properties (NYSE:EGP) remained flat at $$84.06 during trading hours on Wednesday. 155,559 shares of the company traded hands, compared to its average volume of 229,635. The stock has a market cap of $2,931.26, a price-to-earnings ratio of 34.59, a PEG ratio of 4.35 and a beta of 0.95. Eastgroup Properties has a 12 month low of $70.59 and a 12 month high of $95.03.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, March 21st will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.56 annualized dividend and a dividend yield of 3.05%. Eastgroup Properties’s dividend payout ratio is currently 105.35%.
In other news, Director Fredric H. Gould purchased 3,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $80.05 per share, for a total transaction of $240,150.00. Following the completion of the transaction, the director now directly owns 13,688 shares in the company, valued at approximately $1,095,724.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.90% of the company’s stock.
Eastgroup Properties Company Profile
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.
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