EastGroup Properties, Inc. (EGP) to Distribute Quarterly Dividend of $1.75 on October 15th

EastGroup Properties, Inc. (NYSE:EGP) announced a quarterly dividend on Thursday, August 27th. Investors of record on Wednesday, September 30th will be given a dividend of 1.75 per share by the real estate investment trust on Thursday, October 15th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 12.9% increase from EastGroup Properties’s previous quarterly dividend of $1.55.

EastGroup Properties has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. EastGroup Properties has a dividend payout ratio of 117.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect EastGroup Properties to earn $10.26 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 60.4%.

EastGroup Properties Stock Down 0.0%

Shares of EastGroup Properties stock opened at $199.90 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45. EastGroup Properties has a 12-month low of $163.10 and a 12-month high of $226.71. The company has a market cap of $10.75 billion, a P/E ratio of 35.07, a PEG ratio of 2.91 and a beta of 1.02. The company’s fifty day simple moving average is $207.62 and its two-hundred day simple moving average is $199.85.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. The firm had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Research analysts anticipate that EastGroup Properties will post 9.6 EPS for the current year.

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.