EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lifted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,042 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund’s holdings in EastGroup Properties were worth $1,612,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in shares of EastGroup Properties by 2.1% during the third quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust’s stock worth $456,872,000 after buying an additional 49,268 shares during the period. FMR LLC lifted its position in EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after purchasing an additional 629,827 shares during the period. Geode Capital Management LLC lifted its position in EastGroup Properties by 1.2% in the third quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust’s stock worth $168,032,000 after purchasing an additional 10,435 shares during the period. Charles Schwab Investment Management Inc. lifted its position in EastGroup Properties by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,800 shares of the real estate investment trust’s stock worth $119,527,000 after purchasing an additional 22,328 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in 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 period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $183.10 on Friday. The company’s fifty day moving average is $169.10 and its two-hundred day moving average is $175.26. 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 12-month low of $155.10 and a 12-month high of $192.61. The company has a market cap of $9.53 billion, a P/E ratio of 39.38, a price-to-earnings-growth ratio of 3.35 and a beta of 1.00.

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

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.06%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is currently 120.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EGP shares. Truist Financial upped their target price on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Morgan Stanley cut their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.65.

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.