Pacer Advisors Inc. Decreases Stock Holdings in EastGroup Properties, Inc. $EGP

Key Points

• Pacer Advisors Inc. cut its stake in EastGroup Properties by 13.5% in the fourth quarter, selling 5,050 shares and leaving it with 32,298 shares valued at about $5.75 million.
• Wall Street sentiment remains generally positive, with analysts maintaining a Moderate Buy consensus and an average target price of $205.33; several firms recently raised price targets and ratings.
• EastGroup Properties reported Q1 EPS of $1.77, beating estimates, while revenue came in slightly below expectations. The stock was trading near $203.49, close to its 12-month high.

Pacer Advisors Inc. trimmed its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 13.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,298 shares of the real estate investment trust's stock after selling 5,050 shares during the period. Pacer Advisors Inc. owned approximately 0.06% of EastGroup Properties worth $5,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in EGP. Jones Financial Companies Lllp raised its holdings in shares of 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 purchasing an additional 945 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of EastGroup Properties by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust's stock valued at $33,494,000 after purchasing an additional 41,538 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of EastGroup Properties by 309.8% during the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust's stock valued at $2,797,000 after purchasing an additional 12,003 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of EastGroup Properties by 2.2% during the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust's stock valued at $1,075,000 after purchasing an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of EastGroup Properties by 1.9% during the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust's stock valued at $613,000 after purchasing an additional 68 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EGP has been the subject of a number of research reports. Truist Financial upped their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of EastGroup Properties from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Wall Street Zen raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Robert W. Baird upped their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Finally, Evercore set a $195.00 target price on shares of EastGroup Properties in a report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, EastGroup Properties currently has an average rating of "Moderate Buy" and a consensus target price of $205.33.

EastGroup Properties Stock Down 0.3%

Shares of EGP stock opened at $203.49 on Thursday. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $206.78. The stock has a market cap of $10.94 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.07 and a beta of 1.05. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $193.56 and a two-hundred day simple moving average of $186.38.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.50. The business 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 firm's revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, research analysts expect that EastGroup Properties, Inc. will post 9.56 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, March 31st. EastGroup Properties's dividend payout ratio is presently 112.73%.

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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