New York State Common Retirement Fund Sells 2,103 Shares of EastGroup Properties, Inc. (NYSE:EGP)

New York State Common Retirement Fund trimmed its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,821 shares of the real estate investment trust’s stock after selling 2,103 shares during the quarter. New York State Common Retirement Fund owned 0.42% of EastGroup Properties worth $35,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in EastGroup Properties by 1.3% in the third quarter. Vanguard Group Inc. now owns 6,532,176 shares of the real estate investment trust’s stock worth $1,087,803,000 after purchasing an additional 81,798 shares during the period. Deutsche Bank AG raised its stake in EastGroup Properties by 3.9% during the third quarter. Deutsche Bank AG now owns 1,042,443 shares of the real estate investment trust’s stock worth $173,598,000 after acquiring an additional 38,766 shares in the last quarter. Invesco Ltd. raised its stake in EastGroup Properties by 12.7% during the third quarter. Invesco Ltd. now owns 726,446 shares of the real estate investment trust’s stock worth $120,975,000 after acquiring an additional 81,636 shares in the last quarter. Wellington Management Group LLP raised its stake in EastGroup Properties by 113.1% during the third quarter. Wellington Management Group LLP now owns 695,206 shares of the real estate investment trust’s stock worth $115,773,000 after acquiring an additional 368,954 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in EastGroup Properties by 2.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 361,853 shares of the real estate investment trust’s stock worth $66,414,000 after acquiring an additional 7,724 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the transaction, the chief financial officer now owns 102,617 shares in the company, valued at $18,752,230.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Price Performance

Shares of EGP opened at $155.66 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64. EastGroup Properties, Inc. has a 1 year low of $154.75 and a 1 year high of $188.85. The stock has a market cap of $7.47 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 2.50 and a beta of 0.93. The stock’s 50-day moving average price is $175.93 and its two-hundred day moving average price is $175.25.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio (DPR) is currently 110.20%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EGP shares. KeyCorp increased their price objective on EastGroup Properties from $188.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. BMO Capital Markets started coverage on EastGroup Properties in a research note on Monday. They set an “outperform” rating and a $190.00 price objective for the company. Royal Bank of Canada increased their price objective on EastGroup Properties from $180.00 to $190.00 and gave the stock a “sector perform” rating in a research note on Friday, February 16th. Mizuho reiterated a “neutral” rating and set a $185.00 price objective on shares of EastGroup Properties in a research note on Tuesday, April 2nd. Finally, Barclays assumed coverage on EastGroup Properties in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 target price for the company. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties currently has an average rating of “Hold” and an average target price of $189.00.

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.