State of New Jersey Common Pension Fund D Has $5.87 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

State of New Jersey Common Pension Fund D lifted its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,557 shares of the real estate investment trust's stock after buying an additional 1,728 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of EastGroup Properties worth $5,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC boosted its position in EastGroup Properties by 47.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 61 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after buying an additional 84 shares during the period. Versant Capital Management Inc boosted its position in EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after purchasing an additional 95 shares during the last quarter. Finally, Quarry LP bought a new stake in EastGroup Properties in the third quarter worth approximately $102,000. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Price Performance

Shares of EGP traded down $0.31 during mid-day trading on Friday, hitting $179.35. 491,227 shares of the company traded hands, compared to its average volume of 430,063. 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 business has a 50-day moving average of $167.22 and a 200 day moving average of $175.27. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 3.36 and a beta of 1.00.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts' consensus estimates 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 analysts expect that EastGroup Properties, Inc. will post 8.93 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 yield of 3.12%. EastGroup Properties's dividend payout ratio is currently 120.43%.

Analysts Set New Price Targets

EGP has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. Jefferies Financial Group upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and upped their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target for the company. Truist Financial boosted their price target on EastGroup Properties from $168.00 to $180.00 and gave the company a "hold" rating in a research note on Friday, February 14th. Finally, StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.