Eastgroup Properties Inc (EGP) Releases Earnings Results, Reports EPS of $0.99 EPS

Eastgroup Properties Inc (EGP) reported quarterly earnings results on Wednesday, Jul-20-2016. The company reported $0.99 EPS for the quarter. Analysts had a consensus estimate of $0.99. The company posted revenue of $61.92 million in the period, compared to analysts expectations of $61.40 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS.

Many Wall Street Analysts have commented on Eastgroup Properties Inc. Eastgroup Properties Inc was Upgraded by KeyBanc Capital Mkts to ” Sector Weight” on Jul 15, 2016. Stifel Upgraded Eastgroup Properties Inc on Apr 22, 2016 to ” Buy”, Price Target of the shares are set at $68.

Eastgroup Properties Inc closed down -0.09 points or -0.13% at $71.68 with 77,547 shares getting traded on Monday. Post opening the session at $71.7, the shares hit an intraday low of $71.46 and an intraday high of $71.9276 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 29, 2016, H C Jr Bailey (director) sold 1,339 shares at $67.30 per share price. According to the SEC, on Jun 23, 2016, David H Ii Hoster (director) sold 8,000 shares at $68.00 per share price. On Apr 27, 2016, H Eric Jr Bolton (director) purchased 1,700 shares at $59.95 per share price, according to the Form-4 filing with the securities and exchange commission.

EastGroup Properties Inc. (EastGroup) is an equity real estate investment trust (REIT). The Company is focused on the development acquisition and operation of industrial properties in Sunbelt markets throughout the United States. EastGroup holds its properties as long-term investments. The Company owns approximately 307 industrial properties and one office building. These properties are located in the Sunbelt states of Florida Texas Arizona California and North Carolina. EastGroup’s portfolio is approximately 96.3% leased and 96.0% occupied. The Company has developed approximately 37% of its total portfolio (on a square foot basis) including real estate properties and development properties in lease-up and under construction. The Company’s focus is the ownership of business distribution space (80% of the total portfolio) with the remainder in bulk distribution space (16%) and business service space (4%).

Eastgroup Properties Inc

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