EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 49.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,177 shares of the real estate investment trust's stock after acquiring an additional 10,027 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of EastGroup Properties worth $4,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EGP. Raymond James Financial Inc. acquired a new position in shares of EastGroup Properties during the fourth quarter valued at about $116,756,000. FMR LLC raised its stake in EastGroup Properties by 67.9% in the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust's stock worth $291,081,000 after acquiring an additional 629,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in EastGroup Properties by 355.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust's stock valued at $73,158,000 after purchasing an additional 305,555 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of EastGroup Properties by 50.9% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 517,770 shares of the real estate investment trust's stock worth $83,098,000 after purchasing an additional 174,630 shares during the last quarter. Finally, Vision Capital Corp purchased a new position in shares of EastGroup Properties in the third quarter worth about $18,308,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

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Analysts Set New Price Targets

Several brokerages recently weighed in on EGP. Evercore ISI reiterated an "in-line" rating and issued a $185.00 price target (up previously from $181.00) on shares of EastGroup Properties in a report on Monday. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Robert W. Baird upped their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price on the stock. Finally, Jefferies Financial Group upgraded EastGroup Properties from a "hold" rating to a "buy" rating and lifted their price target for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $190.47.

EastGroup Properties Stock Down 1.2 %

Shares of EGP traded down $2.20 during midday trading on Tuesday, reaching $179.36. The stock had a trading volume of 389,191 shares, compared to its average volume of 323,795. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The company's fifty day simple moving average is $173.91 and its two-hundred day simple moving average is $175.01. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Equities research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.40 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 annualized dividend and a yield of 3.12%. EastGroup Properties's dividend payout ratio is currently 120.43%.

About EastGroup Properties

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.