Quantbot Technologies LP Makes New Investment in EastGroup Properties, Inc. $EGP

Key Points

• Quantbot Technologies LP acquired a new stake in EastGroup Properties (NYSE:EGP) in Q3 — 5,377 shares valued at approximately $910,000.
• Wall Street consensus is a Moderate Buy with an average target of $200.18, and multiple analysts (Barclays, Cantor Fitzgerald, Wells Fargo) recently upgraded ratings or raised price targets.
• EastGroup pays a quarterly dividend that annualizes to $6.20 (a 3.3% yield), though its dividend payout ratio is high at 127.31%; the stock trades near $188 with a 52‑week range of $137.67–$197.95.

Quantbot Technologies LP acquired a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,377 shares of the real estate investment trust's stock, valued at approximately $910,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC lifted its stake in shares of EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 99 shares in the last quarter. State of Wyoming purchased a new stake in EastGroup Properties in the 2nd quarter worth $27,000. MAI Capital Management raised its holdings in EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 82 shares during the period. Steigerwald Gordon & Koch Inc. bought a new stake in EastGroup Properties during the third quarter valued at about $34,000. Finally, Mather Group LLC. purchased a new position in shares of EastGroup Properties in the third quarter valued at about $35,000. 92.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Saturday. Barclays raised EastGroup Properties from an "equal weight" rating to an "overweight" rating in a report on Thursday, December 4th. Cantor Fitzgerald upped their price target on EastGroup Properties from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. Wells Fargo & Company increased their price objective on shares of EastGroup Properties from $187.00 to $196.00 and gave the company an "overweight" rating in a report on Monday, November 10th. Finally, Evercore set a $188.00 price objective on shares of EastGroup Properties in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $200.18.

EastGroup Properties Price Performance

EGP stock opened at $188.20 on Friday. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $197.95. The firm has a market capitalization of $10.04 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 3.13 and a beta of 1.10. The company has a fifty day simple moving average of $186.35 and a two-hundred day simple moving average of $178.48. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $1.55 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.3%. EastGroup Properties's dividend payout ratio (DPR) is presently 127.31%.

About EastGroup Properties

EastGroup Properties, Inc NYSE: EGP is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company's portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.

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