Pacer Advisors Inc. Has $6.32 Million Stock Holdings in EastGroup Properties, Inc. $EGP

Pacer Advisors Inc. grew its stake in EastGroup Properties, Inc. (NYSE:EGP) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,348 shares of the real estate investment trust’s stock after acquiring an additional 2,801 shares during the period. Pacer Advisors Inc. owned 0.07% of EastGroup Properties worth $6,322,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in EastGroup Properties by 1.5% in the second quarter. Vanguard Group Inc. now owns 7,306,840 shares of the real estate investment trust’s stock valued at $1,221,119,000 after purchasing an additional 108,561 shares in the last quarter. State Street Corp boosted its holdings in shares of EastGroup Properties by 2.5% in the 2nd quarter. State Street Corp now owns 2,667,793 shares of the real estate investment trust’s stock valued at $449,491,000 after buying an additional 65,060 shares during the last quarter. Norges Bank bought a new position in shares of EastGroup Properties in the second quarter valued at $252,405,000. Geode Capital Management LLC increased its holdings in EastGroup Properties by 1.7% during the second quarter. Geode Capital Management LLC now owns 1,062,770 shares of the real estate investment trust’s stock worth $177,636,000 after buying an additional 18,116 shares during the last quarter. Finally, Invesco Ltd. raised its position in EastGroup Properties by 89.5% during the second quarter. Invesco Ltd. now owns 927,566 shares of the real estate investment trust’s stock worth $155,015,000 after acquiring an additional 438,117 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

Insider Activity

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president directly owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. This trade represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $181.05 on Monday. The firm has a market cap of $9.66 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 2.82 and a beta of 1.11. The business’s 50 day moving average is $179.28 and its 200-day moving average is $171.66. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $188.89.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The firm had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. During the same period in the prior year, the company earned $2.13 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $1.55 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.4%. EastGroup Properties’s payout ratio is currently 130.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EGP. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $178.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. BNP Paribas Exane raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target on the stock in a research report on Monday, October 27th. Industrial Alliance Securities set a $200.00 price objective on EastGroup Properties in a research report on Monday, October 27th. Robert W. Baird lifted their target price on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Finally, Truist Financial boosted their target price on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus target price of $193.89.

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.