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

Pacer Advisors Inc. cut its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,298 shares of the real estate investment trust’s stock after selling 5,050 shares during the quarter. Pacer Advisors Inc. owned about 0.06% of EastGroup Properties worth $5,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EGP. Jones Financial Companies Lllp lifted its position in EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 945 shares during the period. Goldman Sachs Group Inc. grew its position in shares of EastGroup Properties by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after buying an additional 41,538 shares during the period. Jane Street Group LLC grew its position in shares of EastGroup Properties by 309.8% in the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after buying an additional 12,003 shares during the period. Focus Partners Wealth increased its stake in shares of EastGroup Properties by 2.2% in the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after acquiring an additional 130 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 68 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Trading Up 1.7%

Shares of NYSE EGP opened at $203.42 on Tuesday. The firm’s 50 day moving average price is $201.17 and its 200-day moving average price is $191.12. The company has a market cap of $10.94 billion, a PE ratio of 36.98, a P/E/G ratio of 3.00 and a beta of 1.04. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $207.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share 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 company had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. During the same quarter last year, the firm earned $2.15 earnings per share. The firm’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. On average, equities research analysts expect that EastGroup Properties, Inc. will post 9.58 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

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

Wall Street Analysts Forecast Growth

EGP has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. KeyCorp lifted 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. Robert W. Baird boosted their price target on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a research note on Monday, April 27th. Finally, Royal Bank Of Canada raised their price objective on EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 28th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average price target of $210.12.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director directly owned 3,531 shares of the company’s stock, valued at $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.