Pacer Advisors Inc. lowered its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 22.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 37,897 shares of the real estate investment trust's stock after selling 10,854 shares during the period. Pacer Advisors Inc. owned approximately 0.07% of EastGroup Properties worth $6,676,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citizens National Bank Trust Department purchased a new position in shares of EastGroup Properties in the first quarter worth about $26,000. Assetmark Inc. lifted its position in EastGroup Properties by 1,035.7% in the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 145 shares during the last quarter. Mather Group LLC. raised its stake in shares of EastGroup Properties by 74.2% during the first quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 155 shares during the last quarter. Parallel Advisors LLC boosted its holdings in EastGroup Properties by 387.4% during the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after buying an additional 337 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in EastGroup Properties by 31.9% during the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on EGP shares. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Barclays decreased their target price on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Piper Sandler reduced their target price on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $189.31.
Read Our Latest Research Report on EGP
EastGroup Properties Price Performance
Shares of EGP stock traded up $0.16 during midday trading on Thursday, reaching $164.75. 118,403 shares of the company were exchanged, compared to its average volume of 437,393. The company has a market cap of $8.79 billion, a P/E ratio of 35.58, a PEG ratio of 3.37 and a beta of 1.01. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. The company's 50 day moving average price is $168.41 and its two-hundred day moving average price is $169.68.
EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The company had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. During the same quarter last year, the firm posted $2.05 earnings per share. The company's quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.
EastGroup Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $1.40 per share. The ex-dividend date was Monday, June 30th. This represents a $5.60 annualized dividend and a yield of 3.40%. EastGroup Properties's dividend payout ratio is currently 120.95%.
EastGroup Properties Profile
(
Free Report)
EastGroup Properties, Inc NYSE: EGP, a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
Recommended Stories

Before you consider EastGroup Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and EastGroup Properties wasn't on the list.
While EastGroup Properties currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.