EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Employees Retirement System of Texas

Employees Retirement System of Texas increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 44.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,900 shares of the real estate investment trust's stock after purchasing an additional 16,000 shares during the period. Employees Retirement System of Texas owned approximately 0.10% of EastGroup Properties worth $8,329,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EGP. Vanguard Group Inc. raised its stake in shares of EastGroup Properties by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock worth $1,121,978,000 after buying an additional 72,199 shares in the last quarter. State Street Corp raised its position in EastGroup Properties by 2.1% in the third quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust's stock worth $456,872,000 after acquiring an additional 49,268 shares in the last quarter. FMR LLC lifted its holdings in EastGroup Properties by 1.4% in the fourth quarter. FMR LLC now owns 1,579,515 shares of the real estate investment trust's stock valued at $253,496,000 after acquiring an additional 21,432 shares during the period. Boston Partners boosted its position in shares of 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 worth $169,533,000 after purchasing an additional 268,359 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of EastGroup Properties by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 914,532 shares of the real estate investment trust's stock worth $146,816,000 after purchasing an additional 15,313 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

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Analyst Upgrades and Downgrades

EGP has been the topic of a number of research analyst reports. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Friday. Robert W. Baird boosted their price target on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price objective for the company. Morgan Stanley decreased their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Nine 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $189.00.

EastGroup Properties Trading Up 1.8 %

EastGroup Properties stock traded up $2.73 during trading on Friday, hitting $154.91. The company's stock had a trading volume of 528,656 shares, compared to its average volume of 364,645. 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 $8.06 billion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 3.35 and a beta of 0.94. The stock's fifty day moving average is $174.69 and its 200 day moving average is $172.22. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.61.

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 (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 research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.61%. EastGroup Properties's dividend payout ratio (DPR) is 120.43%.

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.