Handelsbanken Fonder AB Purchases 16,200 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Handelsbanken Fonder AB boosted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,158 shares of the real estate investment trust's stock after purchasing an additional 16,200 shares during the quarter. Handelsbanken Fonder AB owned about 0.37% of EastGroup Properties worth $33,496,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in EastGroup Properties by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust's stock worth $72,610,000 after buying an additional 23,626 shares in the last quarter. BankPlus Trust Department acquired a new stake in EastGroup Properties during the fourth quarter valued at approximately $1,871,000. Osterweis Capital Management Inc. grew its stake in shares of EastGroup Properties by 2.2% in the 4th quarter. Osterweis Capital Management Inc. now owns 209,820 shares of the real estate investment trust's stock valued at $33,674,000 after purchasing an additional 4,484 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of EastGroup Properties by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 650,612 shares of the real estate investment trust's stock worth $104,417,000 after buying an additional 10,812 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of EastGroup Properties in the 4th quarter worth approximately $100,579,000. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Trading Down 0.6%

Shares of NYSE:EGP traded down $1.10 during midday trading on Thursday, hitting $170.99. The company had a trading volume of 71,993 shares, compared to its average volume of 373,350. 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 12 month low of $137.67 and a 12 month high of $192.61. The firm has a fifty day simple moving average of $164.25 and a 200 day simple moving average of $169.03. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 3.35 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.01. The business had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. EastGroup Properties's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 EPS. On average, analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, June 30th. EastGroup Properties's payout ratio is 122.54%.

Analyst Ratings Changes

Several research analysts have issued reports on EGP shares. Evercore ISI increased their price objective on EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Truist Financial dropped their target price on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Robert W. Baird decreased their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada decreased their price objective on shares of EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of "Moderate Buy" and an average price target of $188.00.

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.