EastGroup Properties, Inc. (NYSE:EGP) Stock Holdings Lifted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in EastGroup Properties, Inc. (NYSE:EGP) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,557 shares of the real estate investment trust’s stock after acquiring 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.

A number of other hedge funds have also modified their holdings of the stock. V Square Quantitative Management LLC grew 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 last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 worth $58,000 after acquiring an additional 302 shares in the last quarter. Principal Securities Inc. lifted its holdings in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 84 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of EastGroup Properties by 18.7% in 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 in the last quarter. Finally, Quarry LP bought a new stake in shares of EastGroup Properties in the third quarter valued at about $102,000. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $179.61 on Wednesday. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The company’s 50 day moving average price is $166.83 and its two-hundred day moving average price is $175.20. 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 stock has a market cap of $8.89 billion, a P/E ratio of 38.63, a P/E/G ratio of 3.23 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 8.27%. On average, equities analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given 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 dividend payout ratio is currently 120.43%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley dropped their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Wells Fargo & Company decreased their target price on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.53.

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.