EastGroup Properties, Inc. (NYSE:EGP) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,940 shares of the real estate investment trust’s stock after acquiring an additional 4,430 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in EastGroup Properties were worth $10,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC acquired a new position in shares of EastGroup Properties during the fourth quarter worth about $1,006,000. Norges Bank acquired a new stake in shares of EastGroup Properties in the fourth quarter valued at about $100,579,000. UniSuper Management Pty Ltd lifted its position in EastGroup Properties by 1.5% during the 4th quarter. UniSuper Management Pty Ltd now owns 13,800 shares of the real estate investment trust’s stock worth $2,215,000 after acquiring an additional 200 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in EastGroup Properties by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 32,651 shares of the real estate investment trust’s stock worth $5,255,000 after acquiring an additional 1,360 shares during the period. Finally, First American Trust FSB acquired a new stake in EastGroup Properties in the fourth quarter valued at approximately $282,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Trading Down 0.3 %

EastGroup Properties stock opened at $176.19 on Monday. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61. The firm’s 50-day moving average is $176.92 and its 200-day moving average is $174.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $9.17 billion, a P/E ratio of 37.89, a PEG ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating 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%. On average, equities 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s dividend payout ratio is presently 120.43%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Evercore ISI restated an “in-line” rating and set a $185.00 target price (up from $181.00) on shares of EastGroup Properties in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research report on Tuesday, January 14th. They set a “buy” rating and a $180.00 target price on the stock. Truist Financial increased their price target on EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a report on Friday, February 14th. Finally, Robert W. Baird lifted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average target price of $190.47.

EastGroup Properties 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.