Pacer Advisors Inc. Reduces Stock Position in EastGroup Properties, Inc. $EGP

Pacer Advisors Inc. lessened its stake in EastGroup Properties, Inc. (NYSE:EGP) by 13.5% in the fourth quarter, HoldingsChannel reports. The firm owned 32,298 shares of the real estate investment trust’s stock after selling 5,050 shares during the period. 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.

Other hedge funds have also added to or reduced their stakes in the company. State of Wyoming bought a new stake in shares of EastGroup Properties in the second quarter worth $27,000. MAI Capital Management boosted its position in EastGroup Properties by 83.7% in the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 82 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of EastGroup Properties by 53.5% during the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 85 shares during the period. Clearstead Advisors LLC grew its stake in shares of EastGroup Properties by 114.9% during the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 139 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of EastGroup Properties by 35.6% during the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 69 shares during the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $203.42 on Tuesday. The company has a market capitalization of $10.94 billion, a P/E ratio of 36.98, a P/E/G ratio of 3.00 and a beta of 1.04. EastGroup Properties, Inc. has a 1-year low of $159.37 and a 1-year high of $207.72. The firm’s 50 day simple moving average is $201.17 and its two-hundred day simple moving average is $191.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. The firm had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Research analysts expect that EastGroup Properties, Inc. will post 9.58 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a yield of 3.0%. EastGroup Properties’s dividend payout ratio (DPR) is currently 112.73%.

Insider Buying and Selling

In other news, Director David Michael Fields sold 504 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the transaction, the director directly owned 3,531 shares in the company, valued at $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Evercore set a $195.00 price objective on shares of EastGroup Properties in a research note on Friday, April 24th. KeyCorp upped their target price on shares of EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Truist Financial increased their price target 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. Royal Bank Of Canada boosted their price objective on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their price objective on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average target price of $210.12.

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.