BNP Paribas Financial Markets Has $9.93 Million Stake in EastGroup Properties, Inc. (NYSE:EGP)

BNP Paribas Financial Markets raised its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 370.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,097 shares of the real estate investment trust's stock after purchasing an additional 42,589 shares during the period. BNP Paribas Financial Markets owned approximately 0.12% of EastGroup Properties worth $9,929,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in EastGroup Properties by 1.3% in the third quarter. Vanguard Group Inc. now owns 6,532,176 shares of the real estate investment trust's stock worth $1,087,803,000 after purchasing an additional 81,798 shares during the period. Deutsche Bank AG lifted its holdings in shares of EastGroup Properties by 3.9% during the 3rd quarter. Deutsche Bank AG now owns 1,042,443 shares of the real estate investment trust's stock worth $173,598,000 after acquiring an additional 38,766 shares during the period. Invesco Ltd. lifted its holdings in shares of EastGroup Properties by 12.7% during the 3rd quarter. Invesco Ltd. now owns 726,446 shares of the real estate investment trust's stock worth $120,975,000 after acquiring an additional 81,636 shares during the period. Wellington Management Group LLP lifted its holdings in shares of EastGroup Properties by 113.1% during the 3rd quarter. Wellington Management Group LLP now owns 695,206 shares of the real estate investment trust's stock worth $115,773,000 after acquiring an additional 368,954 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of EastGroup Properties by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 584,851 shares of the real estate investment trust's stock worth $107,344,000 after acquiring an additional 30,136 shares during the period. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Price Performance

EGP traded down $0.92 during midday trading on Friday, hitting $165.87. The company had a trading volume of 152,023 shares, compared to its average volume of 287,359. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $7.98 billion, a PE ratio of 35.98, a P/E/G ratio of 2.90 and a beta of 0.96. EastGroup Properties, Inc. has a twelve month low of $154.75 and a twelve month high of $188.85. The firm's 50-day simple moving average is $169.38 and its 200-day simple moving average is $175.00.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.06%. The ex-dividend date was Wednesday, March 27th. EastGroup Properties's payout ratio is presently 110.20%.

Analysts Set New Price Targets

A number of research firms have recently commented on EGP. Royal Bank of Canada reduced their price objective on shares of EastGroup Properties from $190.00 to $172.00 and set a "sector perform" rating for the company in a report on Monday, May 6th. Mizuho reaffirmed a "neutral" rating and set a $185.00 price objective on shares of EastGroup Properties in a report on Tuesday, April 2nd. JPMorgan Chase & Co. reduced their price objective on shares of EastGroup Properties from $190.00 to $183.00 and set a "neutral" rating for the company in a report on Thursday, May 2nd. Evercore ISI reduced their price objective on shares of EastGroup Properties from $190.00 to $178.00 and set an "in-line" rating for the company in a report on Thursday, April 25th. Finally, Truist Financial raised their price objective on shares of EastGroup Properties from $186.00 to $188.00 and gave the stock a "hold" rating in a report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $184.00.

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.