Teacher Retirement System of Texas Grows Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Teacher Retirement System of Texas boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,065 shares of the real estate investment trust’s stock after buying an additional 1,115 shares during the quarter. Teacher Retirement System of Texas’ holdings in EastGroup Properties were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EGP. Raymond James Financial Inc. purchased a new stake in shares of EastGroup Properties during the 4th quarter worth approximately $116,756,000. FMR LLC increased its position in shares of EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock valued at $291,081,000 after buying an additional 629,827 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of EastGroup Properties by 210.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust’s stock valued at $113,584,000 after buying an additional 479,873 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of EastGroup Properties by 355.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust’s stock worth $73,158,000 after buying an additional 305,555 shares during the last quarter. Finally, Boston Partners grew its stake in EastGroup Properties by 34.1% in the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust’s stock valued at $169,533,000 after acquiring an additional 268,359 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Evercore ISI reiterated an “in-line” rating and set a $185.00 target price (up previously from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. 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 report on Wednesday, February 19th. StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Truist Financial boosted their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, February 14th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.47.

EastGroup Properties Stock Down 0.6 %

EGP opened at $175.28 on Wednesday. The company has a market cap of $9.12 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61. The firm has a 50 day moving average price of $176.05 and a 200 day moving average price of $174.62.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s payout ratio 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.