Handelsbanken Fonder AB Has $43.02 Million Holdings in EastGroup Properties, Inc. $EGP

Handelsbanken Fonder AB increased its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 45.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,158 shares of the real estate investment trust’s stock after purchasing an additional 80,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.48% of EastGroup Properties worth $43,019,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EGP. True Wealth Design LLC boosted its stake in shares of EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. State of Wyoming acquired a new stake in EastGroup Properties in the 2nd quarter worth approximately $27,000. MAI Capital Management lifted its holdings in EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 82 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in EastGroup Properties during the third quarter worth approximately $34,000. Finally, Mather Group LLC. acquired a new position in EastGroup Properties during the third quarter valued at approximately $35,000. 92.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of EastGroup Properties from $203.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada upped their price target on shares of EastGroup Properties from $183.00 to $195.00 and gave the company a “sector perform” rating in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft lowered EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price objective on the stock. in a research note on Monday, January 5th. Wells Fargo & Company increased their target price on EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Finally, Morgan Stanley set a $205.00 target price on EastGroup Properties in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.18.

EastGroup Properties Stock Up 0.7%

NYSE EGP opened at $196.32 on Friday. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $197.95. The stock has a market cap of $10.47 billion, a PE ratio of 40.31, a PEG ratio of 3.17 and a beta of 1.11. The firm has a 50-day simple moving average of $185.12 and a 200 day simple moving average of $177.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.01 and a current ratio of 0.01.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio is presently 127.31%.

EastGroup Properties Company Profile

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.