Hsbc Holdings PLC Buys 4,722 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Hsbc Holdings PLC increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGPFree Report) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,957 shares of the real estate investment trust’s stock after acquiring an additional 4,722 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of EastGroup Properties worth $6,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EGP. Venturi Wealth Management LLC boosted its stake in EastGroup Properties by 51.6% during the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake in EastGroup Properties by 18.2% during the third quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 72 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in EastGroup Properties by 0.8% during the third quarter. UniSuper Management Pty Ltd now owns 12,500 shares of the real estate investment trust’s stock worth $2,082,000 after buying an additional 100 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in EastGroup Properties by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 19,264 shares of the real estate investment trust’s stock worth $3,208,000 after buying an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its stake in EastGroup Properties by 2.6% during the fourth quarter. Securian Asset Management Inc. now owns 3,945 shares of the real estate investment trust’s stock worth $724,000 after buying an additional 100 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Evercore ISI decreased their price target on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating on the stock in a research note on Thursday, April 25th. Barclays reduced their target price on shares of EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. KeyCorp reduced their target price on shares of EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Truist Financial boosted their target price on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. Finally, Mizuho reduced their target price on shares of EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of “Hold” and an average target price of $183.38.

Read Our Latest Report on EastGroup Properties

EastGroup Properties Stock Performance

Shares of NYSE:EGP opened at $162.64 on Tuesday. The stock has a market capitalization of $7.83 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.57 and a beta of 0.96. EastGroup Properties, Inc. has a 1-year low of $154.75 and a 1-year high of $188.85. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $165.68 and a two-hundred day moving average price of $174.67.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, June 28th. This represents a $5.08 annualized dividend and a yield of 3.12%. EastGroup Properties’s dividend payout ratio is currently 110.20%.

EastGroup Properties Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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