Optas LLC Purchases New Shares in EastGroup Properties, Inc. (NYSE:EGP)

Optas LLC acquired a new position in EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,329 shares of the real estate investment trust’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EGP. V Square Quantitative Management LLC grew its position in shares of EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 61 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 95 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of EastGroup Properties by 90.7% during the third quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 255 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of EastGroup Properties in the 3rd quarter worth approximately $102,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Truist Financial reduced their price objective on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price target for the company. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their target price on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, StockNews.com cut shares of EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, EastGroup Properties has an average rating of “Moderate Buy” and a consensus target price of $190.88.

EastGroup Properties Stock Up 1.6 %

EastGroup Properties stock opened at $171.45 on Wednesday. The stock has a market cap of $8.49 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a fifty day moving average of $165.59 and a 200 day moving average of $175.91. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.40 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.27%. EastGroup Properties’s dividend payout ratio is currently 115.70%.

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.