New York State Common Retirement Fund Has $35.94 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

New York State Common Retirement Fund cut its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor 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’s holdings in EastGroup Properties were worth $35,941,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Venturi Wealth Management LLC boosted its stake in shares of EastGroup Properties by 51.6% during the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. ZRC Wealth Management LLC acquired a new stake in shares of EastGroup Properties during the fourth quarter valued at about $37,000. Tucker Asset Management LLC acquired a new stake in shares of EastGroup Properties during the third quarter valued at about $44,000. Baker Avenue Asset Management LP boosted its stake in shares of EastGroup Properties by 18.2% during the third quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 72 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of EastGroup Properties by 68.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 494 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 200 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. KeyCorp lifted their price target on EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Truist Financial lifted their price target on EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. BMO Capital Markets began coverage on EastGroup Properties in a research report on Monday. They set an “outperform” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. began coverage on EastGroup Properties in a research report on Thursday, April 11th. They set a “neutral” rating and a $190.00 price objective for the company. Finally, Barclays began coverage on EastGroup Properties in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $181.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $189.00.

Insiders Place Their Bets

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the sale, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

EastGroup Properties Trading Down 1.5 %

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

EastGroup Properties Announces Dividend

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

About EastGroup Properties

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.