Zurcher Kantonalbank Zurich Cantonalbank Has $4.84 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 49.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,177 shares of the real estate investment trust’s stock after buying an additional 10,027 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of EastGroup Properties worth $4,843,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EGP. Atria Investments Inc lifted its position in shares of EastGroup Properties by 6.1% in the 3rd quarter. Atria Investments Inc now owns 13,351 shares of the real estate investment trust’s stock worth $2,494,000 after acquiring an additional 763 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of EastGroup Properties by 50.3% in the third quarter. Crossmark Global Holdings Inc. now owns 4,892 shares of the real estate investment trust’s stock valued at $914,000 after purchasing an additional 1,638 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in EastGroup Properties by 11.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,394 shares of the real estate investment trust’s stock worth $3,063,000 after purchasing an additional 1,648 shares during the period. Metis Global Partners LLC boosted its stake in EastGroup Properties by 31.3% during the third quarter. Metis Global Partners LLC now owns 5,008 shares of the real estate investment trust’s stock worth $936,000 after buying an additional 1,193 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in EastGroup Properties by 13.6% in the 3rd quarter. Natixis Advisors LLC now owns 52,679 shares of the real estate investment trust’s stock valued at $9,842,000 after buying an additional 6,307 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Trading Up 1.9 %

EGP opened at $179.96 on Friday. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61. The stock has a market capitalization of $9.36 billion, a PE ratio of 38.70, a PEG ratio of 3.35 and a beta of 0.99. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $173.08 and a two-hundred day moving average price of $175.23.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EGP. Morgan Stanley reduced their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Robert W. Baird upped their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial raised their target price on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Finally, StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.65.

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.