BNP Paribas Financial Markets Buys 33,182 Shares of EastGroup Properties, Inc. (NYSE:EGP)

BNP Paribas Financial Markets grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 257.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,075 shares of the real estate investment trust's stock after buying an additional 33,182 shares during the quarter. BNP Paribas Financial Markets owned 0.09% of EastGroup Properties worth $8,608,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Gradient Investments LLC purchased a new position in shares of EastGroup Properties during the second quarter worth approximately $32,000. V Square Quantitative Management LLC boosted its position in EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 61 shares during the period. Quest Partners LLC increased its holdings in shares of EastGroup Properties by 10,400.0% in the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust's stock worth $36,000 after buying an additional 208 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of EastGroup Properties by 30.2% in the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust's stock worth $62,000 after buying an additional 80 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of EastGroup Properties in the 2nd quarter valued at about $66,000. Institutional investors own 92.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial decreased their price target on EastGroup Properties from $190.00 to $186.00 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Wedbush reissued an "outperform" rating and issued a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. Evercore ISI upped their price target on EastGroup Properties from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, October 7th. Barclays cut their price objective on EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley increased their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $191.21.

EastGroup Properties Stock Performance

Shares of NYSE EGP traded down $0.52 during trading on Tuesday, reaching $170.17. 73,080 shares of the company traded hands, compared to its average volume of 301,392. The stock has a market capitalization of $8.43 billion, a PE ratio of 35.08, a P/E/G ratio of 2.24 and a beta of 0.99. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $177.11 and a 200-day simple moving average of $177.40. EastGroup Properties, Inc. has a 52-week low of $155.23 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The business had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. During the same quarter last year, the company earned $1.95 EPS. EastGroup Properties's revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts anticipate that EastGroup Properties, Inc. will post 8.36 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.29%. EastGroup Properties's dividend payout ratio (DPR) is presently 115.70%.

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.