Pacer Advisors Inc. Sells 5,050 Shares of EastGroup Properties, Inc. $EGP

Pacer Advisors Inc. reduced its position in EastGroup Properties, Inc. (NYSE:EGP) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,298 shares of the real estate investment trust’s stock after selling 5,050 shares during the quarter. Pacer Advisors Inc.’s holdings in EastGroup Properties were worth $5,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of EGP. Principal Financial Group Inc. boosted its position in shares of EastGroup Properties by 43.5% in the third quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock worth $336,076,000 after purchasing an additional 602,253 shares during the period. Centersquare Investment Management LLC boosted its position in shares of EastGroup Properties by 619.9% during the third quarter. Centersquare Investment Management LLC now owns 297,319 shares of the real estate investment trust’s stock worth $50,324,000 after acquiring an additional 256,019 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of EastGroup Properties by 296.6% during the third quarter. Alyeska Investment Group L.P. now owns 285,476 shares of the real estate investment trust’s stock worth $48,320,000 after acquiring an additional 213,493 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in shares of EastGroup Properties by 199.8% during the third quarter. Hudson Bay Capital Management LP now owns 207,372 shares of the real estate investment trust’s stock worth $35,100,000 after acquiring an additional 138,193 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of EastGroup Properties by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 1,025,235 shares of the real estate investment trust’s stock worth $173,533,000 after acquiring an additional 117,597 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Price Performance

EGP stock opened at $203.49 on Thursday. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $206.78. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $193.56 and a two-hundred day simple moving average of $186.38. The firm has a market capitalization of $10.94 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 3.07 and a beta of 1.05.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. During the same quarter last year, the business earned $2.15 earnings per share. EastGroup Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Analysts anticipate that EastGroup Properties, Inc. will post 9.56 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $1.55 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.20 annualized dividend and a yield of 3.0%. EastGroup Properties’s dividend payout ratio (DPR) is 112.73%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 28th. Evercore set a $195.00 target price on shares of EastGroup Properties in a research report on Friday, April 24th. Truist Financial upped their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Morgan Stanley upped their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Citigroup upped their target price on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.33.

EastGroup Properties Profile

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.