New York State Teachers Retirement System Sells 4,600 Shares of EastGroup Properties, Inc. (NYSE:EGP)

New York State Teachers Retirement System reduced its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 8.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,130 shares of the real estate investment trust's stock after selling 4,600 shares during the quarter. New York State Teachers Retirement System owned 0.11% of EastGroup Properties worth $8,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its position in EastGroup Properties by 67.9% during the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust's stock worth $291,081,000 after acquiring an additional 629,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of EastGroup Properties by 355.1% in 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 worth $73,158,000 after buying an additional 305,555 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of 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 buying an additional 174,630 shares during the period. Vision Capital Corp bought a new stake in EastGroup Properties during the 3rd quarter valued at $18,308,000. Finally, Janus Henderson Group PLC boosted its position in EastGroup Properties by 18.5% during the 3rd quarter. Janus Henderson Group PLC now owns 387,972 shares of the real estate investment trust's stock valued at $72,438,000 after buying an additional 60,624 shares during the period. 92.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on EGP shares. Wells Fargo & Company reduced their price target on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Truist Financial lifted 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. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price objective on the stock. Finally, StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Eight investment 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $191.65.

EastGroup Properties Stock Down 0.2 %

Shares of NYSE EGP traded down $0.31 on Friday, reaching $179.35. 491,227 shares of the company's stock traded hands, compared to its average volume of 430,063. The business's 50 day simple moving average is $167.22 and its two-hundred day simple moving average is $175.27. 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 $9.33 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 3.36 and a beta of 1.00. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast that EastGroup Properties, Inc. will post 8.93 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

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

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.