EastGroup Properties revises 2024 earnings guidance to $8.33-$8.37 per share; Q3 EPS misses estimates.

EastGroup Properties (EGP), a REIT focused on industrial properties in the Sunbelt, revised its 2024 earnings guidance to $8.33-$8.37 per share. It reported a Q3 EPS of $1.14, falling short of estimates. Despite this, analysts maintain a "Moderate Buy" rating, with a consensus target price of $191.73. Revenue increased by 13.7% year-over-year, and a quarterly dividend of $1.40 was declared, up from $1.27.