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EastGroup Properties (EGP) Shares Recent Business Activities
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EastGroup Properties, Inc. (EGP - Free Report) recently announced its business activities. This includes shift in top management positions, transaction activities and sale of common shares.
The Jackson, MS-based real estate investment trust recruited two new executive officers as Senior Vice Presidents for the Texas and Western regions. Also, the company promoted several other people in various positions.
In April, the company acquired the fully-leased Broadmoor Commerce Park in Atlanta for $6.3 million. This multi-tenant business distribution building, comprising 84,000 square feet, is built on 17 acres of land. EastGroup Properties plans to develop another 107,000-square-foot distribution building on the site.
In the same month, the company purchased 30 acres of land in the Round Rock submarket of Austin for $5.3 million. In May, EastGroup Properties acquired Southpark Corporate Center 5-7 in Austin for $10.2 million.
In May, EastGroup Properties sold Stemmons Circle, a 99,000-square-foot building in Dallas for $5.1 million.
Shares of EastGroup Properties have outperformed the Zacks categorized REIT and Equity Trust – Other industry in the last six months. Shares of the company increased 18.5%, whereas the industry gained 9%. In the last thirty days, both its second-quarter and full-year 2017 FFO per share estimates remained unchanged.
Currently, EastGroup Properties carries a Zacks Rank #3 (Hold).
In the last 30 days, Easterly Government Properties’ FFO per share for second-quarter 2017 declined 3.2% to 30 cents.
In the last 30 days, Gaming and Leisure Properties’ FFO per share for second-quarter 2017 increased 1.3% to 77 cents.
In the last 30 days, American Tower Corporation’s FFO per share for second-quarter 2017 remained unchanged at $1.55.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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EastGroup Properties (EGP) Shares Recent Business Activities
EastGroup Properties, Inc. (EGP - Free Report) recently announced its business activities. This includes shift in top management positions, transaction activities and sale of common shares.
The Jackson, MS-based real estate investment trust recruited two new executive officers as Senior Vice Presidents for the Texas and Western regions. Also, the company promoted several other people in various positions.
In April, the company acquired the fully-leased Broadmoor Commerce Park in Atlanta for $6.3 million. This multi-tenant business distribution building, comprising 84,000 square feet, is built on 17 acres of land. EastGroup Properties plans to develop another 107,000-square-foot distribution building on the site.
In the same month, the company purchased 30 acres of land in the Round Rock submarket of Austin for $5.3 million. In May, EastGroup Properties acquired Southpark Corporate Center 5-7 in Austin for $10.2 million.
In May, EastGroup Properties sold Stemmons Circle, a 99,000-square-foot building in Dallas for $5.1 million.
Shares of EastGroup Properties have outperformed the Zacks categorized REIT and Equity Trust – Other industry in the last six months. Shares of the company increased 18.5%, whereas the industry gained 9%. In the last thirty days, both its second-quarter and full-year 2017 FFO per share estimates remained unchanged.
Currently, EastGroup Properties carries a Zacks Rank #3 (Hold).
Investors interested in the REIT space, may consider better-ranked stocks like Easterly Government Properties, Inc. (DEA - Free Report) , Gaming and Leisure Properties, Inc. (GLPI - Free Report) and American Tower Corporation (AMT - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, Easterly Government Properties’ FFO per share for second-quarter 2017 declined 3.2% to 30 cents.
In the last 30 days, Gaming and Leisure Properties’ FFO per share for second-quarter 2017 increased 1.3% to 77 cents.
In the last 30 days, American Tower Corporation’s FFO per share for second-quarter 2017 remained unchanged at $1.55.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>