New York State Common Retirement Fund Buys 212 Shares of EastGroup Properties, Inc. (NYSE:EGP)

New York State Common Retirement Fund grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,018 shares of the real estate investment trust’s stock after buying an additional 212 shares during the period. New York State Common Retirement Fund owned 0.41% of EastGroup Properties worth $32,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EGP. FMR LLC raised its position in shares of EastGroup Properties by 67.9% during the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock valued at $291,081,000 after buying an additional 629,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of EastGroup Properties by 355.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust’s stock valued at $73,158,000 after buying an additional 305,555 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased 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 last quarter. Vision Capital Corp bought a new stake in EastGroup Properties in the third quarter worth $18,308,000. Finally, Janus Henderson Group PLC increased its position in EastGroup Properties by 18.5% in the third quarter. Janus Henderson Group PLC now owns 387,972 shares of the real estate investment trust’s stock worth $72,438,000 after purchasing an additional 60,624 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Down 0.2 %

Shares of EGP opened at $179.63 on Friday. The firm has a market capitalization of $9.34 billion, a P/E ratio of 38.63, a P/E/G ratio of 3.35 and a beta of 1.00. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month high of $192.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $167.22 and a 200-day moving average price of $175.27.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that EastGroup Properties, Inc. will post 8.93 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio is currently 120.43%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EGP shares. Truist Financial boosted their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Jefferies Financial Group upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and boosted their price target for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Wedbush restated an “outperform” rating and issued a $209.00 price target on shares of EastGroup Properties in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price target on the stock. Eight research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.65.

EastGroup Properties Company 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.