EastGroup Properties (EGP - Free Report) shares ended the last trading session 3.4% higher at $143.38. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19.7% loss over the past four weeks.
This increased optimism stems from the favorable fundamentals of the industrial real estate market and the company’s capacity to leverage growth potential.
This real estate investment trust is expected to post quarterly funds from operations (FFO) of $1.75 per share in its upcoming report, which represents a year-over-year change of +12.9%. Revenues are expected to be $125.24 million, up 19.7% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For EastGroup Properties, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on EGP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
EastGroup Properties is a member of the Zacks REIT and Equity Trust - Other industry. One other stock in the same industry, Vornado (VNO - Free Report) , finished the last trading session 0.3% lower at $21.19. VNO has returned -24.9% over the past month.
For Vornado, the consensus FFO per share estimate for the upcoming report has changed -2.9% over the past month to $0.74. This represents a change of +4.2% from what the company reported a year ago. Vornado currently has a Zacks Rank of #4 (Sell).
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
EastGroup Properties (EGP - Free Report) shares ended the last trading session 3.4% higher at $143.38. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19.7% loss over the past four weeks.
This increased optimism stems from the favorable fundamentals of the industrial real estate market and the company’s capacity to leverage growth potential.
This real estate investment trust is expected to post quarterly funds from operations (FFO) of $1.75 per share in its upcoming report, which represents a year-over-year change of +12.9%. Revenues are expected to be $125.24 million, up 19.7% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For EastGroup Properties, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on EGP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
EastGroup Properties is a member of the Zacks REIT and Equity Trust - Other industry. One other stock in the same industry, Vornado (VNO - Free Report) , finished the last trading session 0.3% lower at $21.19. VNO has returned -24.9% over the past month.
For Vornado, the consensus FFO per share estimate for the upcoming report has changed -2.9% over the past month to $0.74. This represents a change of +4.2% from what the company reported a year ago. Vornado currently has a Zacks Rank of #4 (Sell).
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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