Pacer Advisors Inc. Sells 13,547 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Pacer Advisors Inc. reduced its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 21.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,751 shares of the real estate investment trust’s stock after selling 13,547 shares during the period. Pacer Advisors Inc.’s holdings in EastGroup Properties were worth $7,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC boosted its position in EastGroup Properties by 47.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 61 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 302 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 95 shares during the period. GAMMA Investing LLC grew its stake in shares of EastGroup Properties by 90.7% in the third quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 255 shares during the last quarter. Finally, Quarry LP acquired a new stake in EastGroup Properties in the third quarter valued at $102,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $168.44 on Thursday. The stock’s 50 day moving average is $165.73 and its 200-day moving average is $176.42. EastGroup Properties, Inc. has a twelve month low of $155.10 and a twelve month high of $192.61. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 3.12 and a beta of 1.00.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is 115.70%.

Analysts Set New Price Targets

Several brokerages have commented on EGP. Wedbush reaffirmed an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a report on Friday, October 25th. Truist Financial cut their price objective on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Barclays dropped their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and an average target price of $190.88.

EastGroup Properties Profile

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.