EastGroup Properties, Inc. (NYSE:EGP) Stock Holdings Raised by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina grew its stake in EastGroup Properties, Inc. (NYSE:EGP) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,594 shares of the real estate investment trust’s stock after purchasing an additional 470 shares during the period. Treasurer of the State of North Carolina’s holdings in EastGroup Properties were worth $3,466,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of EGP. Crowley Wealth Management Inc. bought a new stake in EastGroup Properties in the fourth quarter valued at about $29,000. Canton Hathaway LLC acquired a new position in shares of EastGroup Properties in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of EastGroup Properties by 503.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 302 shares during the last quarter. Principal Securities Inc. grew its position in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 84 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 95 shares during the period. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $158.17 on Thursday. The company has a market capitalization of $8.23 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a fifty day moving average of $173.72 and a 200-day moving average of $171.69. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.61.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. As a group, equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, March 31st. EastGroup Properties’s payout ratio is 120.43%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI reaffirmed an “in-line” rating and issued a $185.00 price objective (up previously from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a report on Friday, April 11th. Truist Financial raised EastGroup Properties from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research note on Tuesday, January 14th. They set a “buy” rating and a $180.00 target price on the stock. Finally, Piper Sandler decreased their price target on EastGroup Properties from $175.00 to $172.00 and set a “neutral” rating for the company in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $188.24.

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.