Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 7,716 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 40.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,894 shares of the real estate investment trust’s stock after buying an additional 7,716 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of EastGroup Properties worth $4,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of EGP. Canton Hathaway LLC bought a new position in EastGroup Properties in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in EastGroup Properties by 503.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 302 shares during the period. Principal Securities Inc. boosted its holdings in EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 84 shares during the period. Versant Capital Management Inc boosted its holdings in EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 95 shares during the period. Finally, Quarry LP bought a new position in EastGroup Properties in the 3rd quarter worth approximately $102,000. 92.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on EGP shares. Evercore ISI reissued an “in-line” rating and issued a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. Truist Financial raised their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a report on Friday, February 14th. StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Monday, February 10th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Finally, Morgan Stanley cut their price target on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Nine investment 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.47.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $173.11 on Monday. The stock has a market cap of $9.01 billion, a PE ratio of 37.23, a PEG ratio of 3.35 and a beta of 0.99. The company’s fifty day moving average is $175.44 and its 200 day moving average is $174.76. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. 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 (NYSE:EGP) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties’s payout ratio is 120.43%.

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.