Texas Permanent School Fund Corp Sells 546 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Texas Permanent School Fund Corp reduced its stake in EastGroup Properties, Inc. (NYSE:EGPFree Report) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,541 shares of the real estate investment trust’s stock after selling 546 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of EastGroup Properties worth $6,418,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. California Public Employees Retirement System increased its stake in EastGroup Properties by 4.5% in the 3rd quarter. California Public Employees Retirement System now owns 84,096 shares of the real estate investment trust’s stock worth $14,005,000 after purchasing an additional 3,616 shares during the period. National Bank of Canada FI increased its stake in EastGroup Properties by 14,457.0% in the 2nd quarter. National Bank of Canada FI now owns 23,000 shares of the real estate investment trust’s stock worth $4,018,000 after purchasing an additional 22,842 shares during the period. Nisa Investment Advisors LLC increased its stake in EastGroup Properties by 2.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 31,921 shares of the real estate investment trust’s stock worth $5,316,000 after purchasing an additional 863 shares during the period. Eqis Capital Management Inc. purchased a new position in EastGroup Properties in the 2nd quarter worth approximately $220,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in EastGroup Properties by 4.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 50,120 shares of the real estate investment trust’s stock worth $8,346,000 after purchasing an additional 1,910 shares during the period. 90.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Raymond James raised EastGroup Properties from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Friday, October 27th. 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 report on Tuesday, December 5th. Finally, Truist Financial lifted their price objective on EastGroup Properties from $175.00 to $186.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $187.64.

View Our Latest Stock Analysis on EGP

Insider Buying and Selling at EastGroup Properties

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

EastGroup Properties Stock Up 0.6 %

NYSE EGP opened at $186.11 on Monday. EastGroup Properties, Inc. has a twelve month low of $152.45 and a twelve month high of $188.85. The firm has a market capitalization of $8.62 billion, a PE ratio of 42.20, a P/E/G ratio of 2.65 and a beta of 0.94. The stock’s 50 day moving average is $180.69 and its 200 day moving average is $174.62.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, December 28th. EastGroup Properties’s payout ratio is 115.19%.

EastGroup Properties 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.

See Also

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

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