Optas LLC Raises Position in EastGroup Properties, Inc. $EGP

Key Points

• Optas LLC increased its position in EastGroup Properties, Inc. by 114.0%, owning a total of 2,989 shares worth approximately $500,000 at the end of the last quarter.
• EastGroup Properties reported $2.21 earnings per share for the last quarter, exceeding analysts' expectations, and announced a raised quarterly dividend to $1.55 per share.
• Analysts maintain a consensus rating of "Moderate Buy" on EastGroup Properties, with an average target price of $188.31 for the stock.

Optas LLC grew its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 114.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,989 shares of the real estate investment trust's stock after acquiring an additional 1,592 shares during the period. Optas LLC's holdings in EastGroup Properties were worth $500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EGP. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of EastGroup Properties by 24.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,684 shares of the real estate investment trust's stock valued at $270,000 after acquiring an additional 334 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of EastGroup Properties by 28.7% in the first quarter. UMB Bank n.a. now owns 1,951 shares of the real estate investment trust's stock valued at $344,000 after acquiring an additional 435 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of EastGroup Properties by 2.6% in the first quarter. Yousif Capital Management LLC now owns 19,440 shares of the real estate investment trust's stock valued at $3,424,000 after acquiring an additional 489 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of EastGroup Properties by 36.3% in the first quarter. GAMMA Investing LLC now owns 556 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 148 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of EastGroup Properties by 9.3% in the first quarter. Handelsbanken Fonder AB now owns 190,158 shares of the real estate investment trust's stock valued at $33,496,000 after acquiring an additional 16,200 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

Shares of EGP opened at $172.55 on Thursday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The stock has a market cap of $9.20 billion, a P/E ratio of 37.27, a PEG ratio of 3.50 and a beta of 1.02. The company has a 50-day moving average of $166.45 and a two-hundred day moving average of $166.58. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $188.89.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. The company had revenue of $177.29 million during the quarter, compared to analysts' expectations of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. As a group, research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is 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 3.6%. EastGroup Properties's payout ratio is currently 133.91%.

Analyst Ratings Changes

EGP has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 9th. Cantor Fitzgerald initiated coverage on shares of EastGroup Properties in a report on Wednesday, October 1st. They set an "overweight" rating and a $190.00 price objective on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of EastGroup Properties in a report on Wednesday. Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Evercore ISI decreased their price objective on shares of EastGroup Properties from $180.00 to $179.00 and set an "in-line" rating on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $188.31.

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.

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