EastGroup Properties Inc. (EGP) stated that it had funds from operations of $43.90M, or $1.20 per share, in the period. The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.18 per share. Funds from operations are a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $22.50M, or 62 cents per share. The real estate investment trust posted revenue of $78.80M in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $78.60M.
EGP has the market capitalization of $4.26B and its EPS growth ratio for the past five years was 18.90%. The return on assets ratio of the Company was 3.90% while its return on investment ratio stands at 5.40%. Price to sales ratio was 13.87 while 97.10% of the stock was owned by institutional investors.