Swiss National Bank raised its holdings in Eastgroup Properties Inc (NYSE:EGP) by 2.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 60,987 shares of the real estate investment trust’s stock after buying an additional 1,200 shares during the quarter. Swiss National Bank’s holdings in Eastgroup Properties were worth $5,828,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EGP. BlackRock Inc. lifted its stake in shares of Eastgroup Properties by 8.1% in the first quarter. BlackRock Inc. now owns 5,830,140 shares of the real estate investment trust’s stock valued at $481,921,000 after buying an additional 436,478 shares in the last quarter. Millennium Management LLC lifted its position in shares of Eastgroup Properties by 2,585.8% during the first quarter. Millennium Management LLC now owns 304,143 shares of the real estate investment trust’s stock valued at $25,140,000 after purchasing an additional 292,819 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Eastgroup Properties during the first quarter valued at about $8,313,000. SG Americas Securities LLC lifted its position in shares of Eastgroup Properties by 961.1% during the second quarter. SG Americas Securities LLC now owns 60,496 shares of the real estate investment trust’s stock valued at $5,781,000 after purchasing an additional 54,795 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Eastgroup Properties by 49.2% during the first quarter. Stifel Financial Corp now owns 161,421 shares of the real estate investment trust’s stock valued at $13,380,000 after purchasing an additional 53,204 shares in the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine lowered shares of Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. Sandler O’Neill set a $105.00 price target on shares of Eastgroup Properties and gave the company a “buy” rating in a research report on Monday, July 23rd. Bank of America raised their price target on shares of Eastgroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, July 16th. Finally, Citigroup raised their price target on shares of Eastgroup Properties from $87.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $95.09.

Shares of EGP stock opened at $96.48 on Friday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 4.43 and a beta of 0.77. Eastgroup Properties Inc has a 52 week low of $77.74 and a 52 week high of $99.39.

Eastgroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, July 19th. The real estate investment trust reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $74.90 million during the quarter, compared to analysts’ expectations of $72.60 million. Eastgroup Properties had a net margin of 28.00% and a return on equity of 10.26%. Eastgroup Properties’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. equities analysts forecast that Eastgroup Properties Inc will post 4.62 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a dividend of $0.72 per share. This is a positive change from Eastgroup Properties’s previous quarterly dividend of $0.64. This represents a $2.88 annualized dividend and a yield of 2.99%. Eastgroup Properties’s payout ratio is presently 60.09%.

In other news, EVP John F. Coleman sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $96.27, for a total value of $481,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director H C. Bailey, Jr. sold 265 shares of the business’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $96.44, for a total transaction of $25,556.60. Following the completion of the sale, the director now owns 3,759 shares of the company’s stock, valued at $362,517.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,965 shares of company stock valued at $964,687. 2.90% of the stock is currently owned by company insiders.

About Eastgroup Properties

EastGroup Properties, Inc 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.

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Institutional Ownership by Quarter for Eastgroup Properties (NYSE:EGP)

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