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EastGroup Properties (EGP) Surges 7.6%: Is This an Indication of Further Gains?
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EastGroup Properties (EGP - Free Report) shares soared 7.6% in the last trading session to close at $156.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.5% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to President Donald Trump’s recent announcement to put a 90-day pause on the reciprocal tariff for most countries.
This real estate investment trust is expected to post quarterly funds from operations (FFO) of $2.11 per share in its upcoming report, which represents a year-over-year change of +6.6%. Revenues are expected to be $171.08 million, up 10.9% 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 estimate for FFO per share 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.
EastGroup Properties is part of the Zacks REIT and Equity Trust - Other industry. Clipper Realty Inc. (CLPR - Free Report) , another stock in the same industry, closed the last trading session 7.5% higher at $3.74. CLPR has returned -23.4% in the past month.
Clipper Realty's consensus estimate for FFO per share for the upcoming report has remained unchanged over the past month at $0.16. Compared to the company's year-ago FFO per share, this represents a change of +14.3%. Clipper Realty currently boasts a Zacks Rank of #3 (Hold).
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EastGroup Properties (EGP) Surges 7.6%: Is This an Indication of Further Gains?
EastGroup Properties (EGP - Free Report) shares soared 7.6% in the last trading session to close at $156.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.5% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to President Donald Trump’s recent announcement to put a 90-day pause on the reciprocal tariff for most countries.
This real estate investment trust is expected to post quarterly funds from operations (FFO) of $2.11 per share in its upcoming report, which represents a year-over-year change of +6.6%. Revenues are expected to be $171.08 million, up 10.9% 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 estimate for FFO per share 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
EastGroup Properties is part of the Zacks REIT and Equity Trust - Other industry. Clipper Realty Inc. (CLPR - Free Report) , another stock in the same industry, closed the last trading session 7.5% higher at $3.74. CLPR has returned -23.4% in the past month.
Clipper Realty's consensus estimate for FFO per share for the upcoming report has remained unchanged over the past month at $0.16. Compared to the company's year-ago FFO per share, this represents a change of +14.3%. Clipper Realty currently boasts a Zacks Rank of #3 (Hold).