EastGroup Properties, Inc. (NYSE:EGP) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 203,806 shares of the real estate investment trust's stock after purchasing an additional 12,234 shares during the period. New York State Common Retirement Fund owned about 0.42% of EastGroup Properties worth $38,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. abrdn plc boosted its stake in shares of EastGroup Properties by 10.3% in the third quarter. abrdn plc now owns 9,913 shares of the real estate investment trust's stock worth $1,852,000 after acquiring an additional 924 shares during the period. J.W. Cole Advisors Inc. bought a new position in shares of EastGroup Properties in the third quarter worth about $754,000. State of Alaska Department of Revenue boosted its stake in shares of EastGroup Properties by 1.4% in the third quarter. State of Alaska Department of Revenue now owns 28,649 shares of the real estate investment trust's stock worth $5,350,000 after acquiring an additional 382 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of EastGroup Properties by 7.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust's stock worth $252,000 after acquiring an additional 90 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of EastGroup Properties by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,869 shares of the real estate investment trust's stock worth $351,000 after acquiring an additional 488 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Down 0.0 %

Shares of EastGroup Properties stock traded down $0.08 during trading on Friday, reaching $171.20. The company's stock had a trading volume of 284,560 shares, compared to its average volume of 343,310. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 35.37, a P/E/G ratio of 2.55 and a beta of 1.00. EastGroup Properties, Inc. has a 1-year low of $155.23 and a 1-year high of $192.61. The company has a 50-day simple moving average of $182.93 and a two-hundred day simple moving average of $175.52.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. During the same period in the prior year, the firm posted $1.95 EPS. The business's revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts forecast that EastGroup Properties, Inc. will post 8.34 earnings per share for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.27%. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.27. EastGroup Properties's dividend payout ratio (DPR) is presently 115.70%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. KeyCorp upped their price objective on EastGroup Properties from $178.00 to $198.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Wedbush restated an "outperform" rating and set a $209.00 price objective on shares of EastGroup Properties in a research report on Friday, October 25th. Wells Fargo & Company upgraded EastGroup Properties from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $179.00 to $214.00 in a report on Wednesday, August 28th. Barclays reduced their price objective on EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating on the stock in a report on Thursday, October 10th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $192.57.

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.