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

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

Other large investors also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in shares of EastGroup Properties during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 302 shares during the period. Principal Securities Inc. increased its stake in shares of EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 84 shares during the last quarter. Versant Capital Management Inc raised its position in shares of EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 95 shares during the period. Finally, Quarry LP bought a new position in EastGroup Properties during the 3rd quarter worth approximately $102,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Up 1.9 %

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

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

EastGroup Properties Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s dividend payout ratio is currently 120.43%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EGP. Morgan Stanley cut their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Robert W. Baird lifted their target price on EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.65.

EastGroup Properties Company 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.