State of New Jersey Common Pension Fund D Has $7.20 Million Stock Holdings in EastGroup Properties, Inc. $EGP

State of New Jersey Common Pension Fund D raised its stake in EastGroup Properties, Inc. (NYSE:EGP) by 6.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 43,057 shares of the real estate investment trust’s stock after purchasing an additional 2,500 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in EastGroup Properties were worth $7,196,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EGP. Vanguard Group Inc. increased its stake in shares of EastGroup Properties by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust’s stock worth $1,267,977,000 after acquiring an additional 207,329 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in EastGroup Properties by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust’s stock worth $232,184,000 after purchasing an additional 342,620 shares during the last quarter. Principal Financial Group Inc. increased its position in EastGroup Properties by 234.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust’s stock worth $215,267,000 after purchasing an additional 856,971 shares during the last quarter. Boston Partners increased its position in EastGroup Properties by 13.8% in the 1st quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust’s stock worth $211,761,000 after purchasing an additional 146,230 shares during the last quarter. Finally, Nuveen LLC acquired a new position in EastGroup Properties in the first quarter worth approximately $190,456,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Down 1.1%

Shares of NYSE:EGP opened at $177.48 on Monday. The company has a market cap of $9.47 billion, a P/E ratio of 37.29, a P/E/G ratio of 3.61 and a beta of 1.02. The stock’s 50-day moving average is $169.62 and its 200-day moving average is $167.31. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $188.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). The business had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.13 earnings per share. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $1.55 dividend. The ex-dividend date was Tuesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a dividend yield of 3.5%. EastGroup Properties’s dividend payout ratio is 130.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EGP shares. Royal Bank Of Canada dropped their price objective on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 29th. Weiss Ratings restated a “hold (c)” rating on shares of EastGroup Properties in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 9th. Evercore ISI lowered their target price on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a research report on Monday, October 6th. Finally, Cantor Fitzgerald assumed coverage on shares of EastGroup Properties in a research report on Wednesday, October 1st. They set an “overweight” rating and a $190.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $186.58.

EastGroup Properties 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.