EastGroup Properties Inc (NYSE: EGP) said on Friday that its Board of Directors had authorized a regular quarterly cash dividend of $1.27 per share.
The dividend will be paid on April 15th to shareholders of record as of the close of business on March 28th 2024, the company said.
The dividend is the 177th consecutive quarterly distribution to shareholders and equals an annualized dividend rate of $5.08 per share.
Stock Performance
The shares of EastGroup Properties Inc closed 0.39% ($0.70) higher at $181.11 in New York on Friday, as they reversed a loss from the previous market session.
The company’s total market cap now stands at $8.685 billion.
The shares of EastGroup Properties Inc went up 23.96% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have retreated 1.32% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 6 out of 10 surveyed investment analysts had rated EastGroup Properties Inc’s stock as “Hold”, while 4 – as “Buy”. The median price target on the stock stands at $192.00, which translates into a 6.01% upside compared to the closing price on Friday.
The high point of the analyst forecast range stands at $215.00.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
