Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in EastGroup Properties, Inc. $EGP

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,239 shares of the real estate investment trust’s stock after purchasing an additional 3,636 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in EastGroup Properties were worth $8,593,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EGP. Principal Financial Group Inc. lifted its holdings in shares of EastGroup Properties by 43.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock valued at $336,076,000 after acquiring an additional 602,253 shares during the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of EastGroup Properties by 619.9% in the 3rd quarter. Centersquare Investment Management LLC now owns 297,319 shares of the real estate investment trust’s stock valued at $50,324,000 after acquiring an additional 256,019 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of EastGroup Properties by 296.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 285,476 shares of the real estate investment trust’s stock valued at $48,320,000 after acquiring an additional 213,493 shares during the last quarter. Hudson Bay Capital Management LP lifted its holdings in shares of EastGroup Properties by 199.8% in the 3rd quarter. Hudson Bay Capital Management LP now owns 207,372 shares of the real estate investment trust’s stock valued at $35,100,000 after acquiring an additional 138,193 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of EastGroup Properties by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,025,235 shares of the real estate investment trust’s stock valued at $173,533,000 after acquiring an additional 117,597 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EGP. Truist Financial increased their price target on EastGroup Properties from $203.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Cantor Fitzgerald upped their price target on shares of EastGroup Properties from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Evercore set a $188.00 price target on shares of EastGroup Properties in a report on Friday, February 6th. Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Piper Sandler upped their price target on shares of EastGroup Properties from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.76.

EastGroup Properties Price Performance

EGP opened at $200.38 on Friday. The business has a fifty day moving average of $191.30 and a 200 day moving average of $183.95. EastGroup Properties, Inc. has a 52-week low of $159.18 and a 52-week high of $203.60. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.77 billion, a P/E ratio of 36.43, a PEG ratio of 3.27 and a beta of 1.09.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.43%. The company had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. During the same quarter last year, the business posted $2.15 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, sell-side analysts anticipate that EastGroup Properties, Inc. will post 9.54 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 127.31%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.