Optas LLC Takes $213,000 Position in EastGroup Properties, Inc. (NYSE:EGP)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in EGP. V Square Quantitative Management LLC increased its stake in 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 acquiring an additional 61 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in EastGroup Properties by 503.3% in 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. GAMMA Investing LLC lifted its position in 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. Quarry LP purchased a new position in EastGroup Properties in the 3rd quarter worth approximately $102,000. Finally, Versant Capital Management Inc increased its holdings in shares of EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EGP. StockNews.com lowered shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price objective on the stock. Wells Fargo & Company cut their target price on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Barclays lowered their price objective on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.88.

EastGroup Properties Price Performance

Shares of EastGroup Properties stock opened at $171.45 on Wednesday. The company has a market cap of $8.49 billion, a PE ratio of 35.42, a P/E/G ratio of 3.16 and a beta of 1.00. The business has a 50 day moving average of $165.59 and a 200 day moving average of $175.91. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.27%. EastGroup Properties’s dividend payout ratio is 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.