EastGroup Properties (EGP) Surges 7.6%: Is This an Indication of Further Gains?

EastGroup Properties EGP 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, 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).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EastGroup Properties, Inc. (EGP): Free Stock Analysis Report Clipper Realty Inc. (CLPR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks