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Strength Seen in EastGroup Properties (EGP): Can Its 3.8% Jump Turn into More Strength?
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EastGroup Properties (EGP - Free Report) shares rallied 3.8% in the last trading session to close at $163.50. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.3% loss over the past four weeks.
This increased optimism reflects the continued strong fundamentals of the overall industrial real estate industry.
This real estate investment trust is expected to post quarterly funds from operations (FFO) of $1.69 per share in its upcoming report, which represents a year-over-year change of +15%. Revenues are expected to be $114.16 million, up 14.6% from the year-ago quarter.
FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.
For EastGroup Properties, the consensus FFO per share estimate for the quarter has been revised 1.4% higher over the last 30 days to the current level. And a positive trend in FFO estimate revision usually translates into price appreciation. 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.
EastGroup Properties belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Farmland Partners (FPI - Free Report) , closed the last trading session 0.9% lower at $13.88. Over the past month, FPI has returned -6%.
For Farmland Partners, the consensus FFO per share estimate for the upcoming report has changed +33.3% over the past month to $0.02. This represents a change of +140% from what the company reported a year ago. Farmland Partners currently has a Zacks Rank of #2 (Buy).
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Strength Seen in EastGroup Properties (EGP): Can Its 3.8% Jump Turn into More Strength?
EastGroup Properties (EGP - Free Report) shares rallied 3.8% in the last trading session to close at $163.50. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.3% loss over the past four weeks.
This increased optimism reflects the continued strong fundamentals of the overall industrial real estate industry.
This real estate investment trust is expected to post quarterly funds from operations (FFO) of $1.69 per share in its upcoming report, which represents a year-over-year change of +15%. Revenues are expected to be $114.16 million, up 14.6% from the year-ago quarter.
FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.
For EastGroup Properties, the consensus FFO per share estimate for the quarter has been revised 1.4% higher over the last 30 days to the current level. And a positive trend in FFO estimate revision usually translates into price appreciation. 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 belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Farmland Partners (FPI - Free Report) , closed the last trading session 0.9% lower at $13.88. Over the past month, FPI has returned -6%.
For Farmland Partners, the consensus FFO per share estimate for the upcoming report has changed +33.3% over the past month to $0.02. This represents a change of +140% from what the company reported a year ago. Farmland Partners currently has a Zacks Rank of #2 (Buy).