Zurcher Kantonalbank Zurich Cantonalbank Buys 3,636 Shares of EastGroup Properties, Inc. $EGP

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,239 shares of the real estate investment trust’s stock after buying an additional 3,636 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of EastGroup Properties worth $8,593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Elevated Capital Advisors LLC increased its stake in shares of EastGroup Properties by 41.0% in the fourth quarter. Elevated Capital Advisors LLC now owns 4,650 shares of the real estate investment trust’s stock worth $828,000 after purchasing an additional 1,353 shares in the last quarter. Moran Wealth Management LLC increased its stake in shares of EastGroup Properties by 5.9% in the fourth quarter. Moran Wealth Management LLC now owns 7,057 shares of the real estate investment trust’s stock worth $1,257,000 after purchasing an additional 395 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of EastGroup Properties in the fourth quarter worth $220,000. AE Wealth Management LLC increased its stake in shares of EastGroup Properties by 30.6% in the fourth quarter. AE Wealth Management LLC now owns 198,900 shares of the real estate investment trust’s stock worth $35,432,000 after purchasing an additional 46,653 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of EastGroup Properties by 16.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,890 shares of the real estate investment trust’s stock worth $515,000 after purchasing an additional 401 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.2%

Shares of EGP stock opened at $200.38 on Friday. EastGroup Properties, Inc. has a 12-month low of $159.18 and a 12-month high of $203.60. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $191.30 and its 200-day moving average price is $183.95. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.43% and a net margin of 39.69%.The firm had revenue of $190.26 million for the quarter, compared to analysts’ expectations of $193.84 million. During the same period in the previous year, the firm posted $2.15 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 9.54 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EGP. Evercore set a $188.00 price objective on EastGroup Properties in a research note on Friday, February 6th. Cantor Fitzgerald upped their price objective on EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Morgan Stanley upped their price objective on EastGroup Properties from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Piper Sandler upped their price objective on EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Finally, Citigroup upped their price objective on EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.76.

EastGroup Properties 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.