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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 40.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,894 shares of the real estate investment trust's stock after purchasing an additional 7,716 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of EastGroup Properties worth $4,316,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in EastGroup Properties by 6.6% in the 4th quarter. Teacher Retirement System of Texas now owns 18,065 shares of the real estate investment trust's stock worth $2,899,000 after purchasing an additional 1,115 shares during the period. Xponance Inc. increased its stake in shares of EastGroup Properties by 6.9% in the fourth quarter. Xponance Inc. now owns 5,622 shares of the real estate investment trust's stock worth $902,000 after buying an additional 365 shares during the period. Boston Partners raised its holdings in EastGroup Properties by 34.1% during the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock valued at $169,533,000 after buying an additional 268,359 shares during the last quarter. Cibc World Markets Corp boosted its position in EastGroup Properties by 11.7% during the 4th quarter. Cibc World Markets Corp now owns 14,365 shares of the real estate investment trust's stock valued at $2,305,000 after buying an additional 1,508 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in EastGroup Properties by 2.6% in the 4th quarter. Corient Private Wealth LLC now owns 12,400 shares of the real estate investment trust's stock worth $1,990,000 after acquiring an additional 314 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

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EastGroup Properties Stock Down 0.5 %

Shares of EastGroup Properties stock traded down $0.94 during midday trading on Tuesday, hitting $175.42. The company had a trading volume of 276,018 shares, compared to its average volume of 329,896. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market capitalization of $9.13 billion, a P/E ratio of 37.73, a P/E/G ratio of 3.35 and a beta of 0.99. The company has a 50 day moving average of $175.79 and a 200 day moving average of $174.69.

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

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is currently 120.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EGP shares. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Truist Financial lifted their price objective on EastGroup Properties from $168.00 to $180.00 and gave the stock a "hold" rating in a research report on Friday, February 14th. Evercore ISI restated an "in-line" rating and set a $185.00 target price (up previously from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. Finally, Jefferies Financial Group upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and lifted their price target for the company from $174.00 to $194.00 in a report on Thursday, January 2nd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.47.

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.