EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in EastGroup Properties, Inc. (NYSE:EGP) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,998 shares of the real estate investment trust’s stock after acquiring an additional 312 shares during the period. State of Alaska Department of Revenue owned 0.06% of EastGroup Properties worth $4,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in EastGroup Properties during the 4th quarter worth $103,931,000. Paralel Advisors LLC acquired a new position in EastGroup Properties during the fourth quarter worth about $1,357,000. New York Life Investment Management LLC grew its stake in EastGroup Properties by 651.0% during the 4th quarter. New York Life Investment Management LLC now owns 15,186 shares of the real estate investment trust’s stock valued at $2,787,000 after acquiring an additional 13,164 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in EastGroup Properties in the 4th quarter valued at about $2,289,000. Finally, Great Lakes Advisors LLC purchased a new position in EastGroup Properties in the 4th quarter worth approximately $6,480,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Down 0.0 %

Shares of NYSE:EGP opened at $172.00 on Friday. The firm has a market capitalization of $8.28 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 2.68 and a beta of 0.98. EastGroup Properties, Inc. has a 1 year low of $154.75 and a 1 year high of $188.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.10 and a quick ratio of 0.10. The firm’s 50-day moving average is $164.51 and its two-hundred day moving average is $173.54.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.95%. The ex-dividend date is Friday, June 28th. EastGroup Properties’s payout ratio is currently 110.20%.

Analyst Ratings Changes

Several research firms recently commented on EGP. KeyCorp cut their price target on EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Evercore ISI lowered their price target on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating on the stock in a research report on Thursday, April 25th. Piper Sandler cut their price objective on shares of EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets began coverage on shares of EastGroup Properties in a report on Monday, April 22nd. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on shares of EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a report on Monday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties currently has an average rating of “Hold” and a consensus price target of $182.41.

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.