92,427 Shares in EastGroup Properties, Inc. (NYSE:EGP) Acquired by Nomura Holdings Inc.

Nomura Holdings Inc. purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 92,427 shares of the real estate investment trust’s stock, valued at approximately $14,834,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Crowley Wealth Management Inc. bought a new stake in EastGroup Properties in the fourth quarter valued at approximately $29,000. Canton Hathaway LLC bought a new stake in EastGroup Properties in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in EastGroup Properties by 503.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Principal Securities Inc. increased its stake in EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 84 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in EastGroup Properties in the fourth quarter valued at approximately $100,000. 92.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

EGP has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of EastGroup Properties from $180.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Evercore ISI increased their price objective on shares of EastGroup Properties from $179.00 to $180.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. Barclays lowered their price objective on shares of EastGroup Properties from $193.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Royal Bank of Canada lowered their price objective on shares of EastGroup Properties from $189.00 to $183.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Finally, Piper Sandler lowered their price objective on shares of EastGroup Properties from $175.00 to $172.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.40.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $167.91 on Thursday. The business’s 50 day moving average price is $166.94 and its two-hundred day moving average price is $169.51. The company has a market cap of $8.82 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.61.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.01. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The company had revenue of $174.45 million during the quarter, compared to analysts’ expectations of $169.67 million. During the same quarter in the previous year, the company posted $1.98 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. On average, analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Monday, March 31st. EastGroup Properties’s dividend payout ratio is presently 122.54%.

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.