EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 4.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 20,150 shares of the real estate investment trust’s stock after acquiring an additional 836 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in EastGroup Properties were worth $3,764,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Gradient Investments LLC purchased a new position in shares of EastGroup Properties in the second quarter worth $32,000. V Square Quantitative Management LLC raised its stake in shares of EastGroup Properties by 47.7% in the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 61 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares during the period. EverSource Wealth Advisors LLC boosted its position in EastGroup Properties by 30.2% in the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 80 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in EastGroup Properties in the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.8 %

Shares of EGP opened at $170.75 on Tuesday. EastGroup Properties, Inc. has a 52-week low of $155.23 and a 52-week high of $192.61. The stock has a market cap of $8.45 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00. The firm’s fifty day moving average is $177.48 and its two-hundred day moving average is $177.37. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business had revenue of $162.88 million for the quarter, compared to analysts’ expectations of $161.52 million. During the same period in the prior year, the company posted $1.95 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Research analysts forecast that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.28%. EastGroup Properties’s dividend payout ratio (DPR) is currently 115.70%.

Analysts Set New Price Targets

EGP has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Evercore ISI upped their target price on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Wedbush reiterated an “outperform” rating and set a $209.00 price target on shares of EastGroup Properties in a research report on Friday, October 25th. Mizuho raised EastGroup Properties from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $175.00 to $200.00 in a report on Thursday, September 5th. Finally, Truist Financial dropped their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, EastGroup Properties presently has a consensus rating of “Hold” and an average target price of $191.21.

About EastGroup Properties

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.