EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Swiss National Bank

Swiss National Bank grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,887 shares of the real estate investment trust’s stock after purchasing an additional 1,900 shares during the period. Swiss National Bank owned approximately 0.19% of EastGroup Properties worth $15,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in EastGroup Properties by 48.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,125 shares of the real estate investment trust’s stock worth $181,000 after acquiring an additional 366 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of EastGroup Properties in the fourth quarter valued at approximately $1,946,000. Daiwa Securities Group Inc. grew its holdings in shares of EastGroup Properties by 210.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust’s stock valued at $113,584,000 after purchasing an additional 479,873 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in EastGroup Properties by 49.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,177 shares of the real estate investment trust’s stock worth $4,843,000 after buying an additional 10,027 shares during the period. Finally, Davis Selected Advisers increased its stake in EastGroup Properties by 12.1% during the 4th quarter. Davis Selected Advisers now owns 44,440 shares of the real estate investment trust’s stock worth $7,132,000 after buying an additional 4,780 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Down 0.4 %

Shares of NYSE EGP opened at $178.90 on Thursday. The stock has a market cap of $9.31 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61. The business has a 50-day moving average price of $174.73 and a 200 day moving average price of $174.99. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Equities research analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.40 dividend. The ex-dividend date is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.13%. EastGroup Properties’s payout ratio is 120.43%.

Wall Street Analyst Weigh In

EGP has been the topic of a number of recent research reports. StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Truist Financial boosted their price objective on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Evercore ISI reaffirmed an “in-line” rating and issued a $185.00 target price (up previously from $181.00) on shares of EastGroup Properties in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price target for the company. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EastGroup Properties currently has an average rating of “Moderate Buy” and an average target price of $190.47.

EastGroup Properties Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.