EastGroup Properties, Inc. (NYSE:EGP) Stock Holdings Boosted by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System increased its position in shares of EastGroup Properties, Inc. (NYSE:EGPFree Report) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 61,022 shares of the real estate investment trust’s stock after buying an additional 750 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in EastGroup Properties were worth $10,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathstone Family Office LLC raised its holdings in EastGroup Properties by 1.6% during the third quarter. Pathstone Family Office LLC now owns 60,495 shares of the real estate investment trust’s stock valued at $10,077,000 after buying an additional 939 shares in the last quarter. Van ECK Associates Corp raised its holdings in EastGroup Properties by 174.0% during the third quarter. Van ECK Associates Corp now owns 13,598 shares of the real estate investment trust’s stock valued at $2,264,000 after buying an additional 8,635 shares in the last quarter. Swiss National Bank raised its holdings in EastGroup Properties by 1.4% during the third quarter. Swiss National Bank now owns 97,587 shares of the real estate investment trust’s stock valued at $16,251,000 after buying an additional 1,300 shares in the last quarter. Amalgamated Bank raised its holdings in EastGroup Properties by 1.5% during the third quarter. Amalgamated Bank now owns 29,127 shares of the real estate investment trust’s stock valued at $4,851,000 after buying an additional 427 shares in the last quarter. Finally, Trillium Asset Management LLC raised its holdings in EastGroup Properties by 17.6% during the third quarter. Trillium Asset Management LLC now owns 31,330 shares of the real estate investment trust’s stock valued at $5,218,000 after buying an additional 4,690 shares in the last quarter. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP John F. Coleman sold 1,000 shares of EastGroup Properties stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $173.05, for a total transaction of $173,050.00. Following the sale, the executive vice president now directly owns 90,305 shares of the company’s stock, valued at $15,627,280.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp raised their target price on EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial raised their target price on EastGroup Properties from $175.00 to $186.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Raymond James upgraded EastGroup Properties from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Friday, October 27th. Finally, Mizuho lowered EastGroup Properties from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a research note on Tuesday, December 5th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $188.55.

Check Out Our Latest Stock Report on EGP

EastGroup Properties Stock Down 0.4 %

EGP stock opened at $185.36 on Tuesday. EastGroup Properties, Inc. has a twelve month low of $152.45 and a twelve month high of $188.85. The company has a market cap of $8.59 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 2.65 and a beta of 0.94. The business’s 50-day simple moving average is $180.84 and its 200 day simple moving average is $174.67.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, December 28th. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.19%.

EastGroup Properties Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding EGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EastGroup Properties, Inc. (NYSE:EGPFree Report).

Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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