Pacer Advisors Inc. Sells 1,363 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Pacer Advisors Inc. cut its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,298 shares of the real estate investment trust’s stock after selling 1,363 shares during the quarter. Pacer Advisors Inc. owned about 0.13% of EastGroup Properties worth $11,639,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in EastGroup Properties in the third quarter worth approximately $206,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of EastGroup Properties in the 3rd quarter valued at $3,462,000. Pathstone Holdings LLC lifted its position in shares of EastGroup Properties by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 67,602 shares of the real estate investment trust’s stock valued at $12,632,000 after acquiring an additional 542 shares during the period. OneAscent Wealth Management LLC bought a new position in EastGroup Properties during the third quarter worth $399,000. Finally, Quest Partners LLC grew its holdings in EastGroup Properties by 3,258.6% in the third quarter. Quest Partners LLC now owns 7,053 shares of the real estate investment trust’s stock worth $1,318,000 after purchasing an additional 6,843 shares during the period. Institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EGP. Truist Financial dropped their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and issued a $209.00 price target on shares of EastGroup Properties in a report on Friday, October 25th. Evercore ISI boosted their price objective on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $186.00 target price on shares of EastGroup Properties in a report on Wednesday, October 30th. Finally, KeyCorp boosted their price target on shares of EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Stock Up 1.6 %

EGP opened at $171.98 on Friday. EastGroup Properties, Inc. has a fifty-two week low of $155.23 and a fifty-two week high of $192.61. The firm has a market capitalization of $8.51 billion, a P/E ratio of 35.53, a PEG ratio of 2.20 and a beta of 1.00. The company’s 50-day moving average is $179.14 and its 200 day moving average is $176.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The company had revenue of $162.88 million during the quarter, compared to analysts’ expectations of $161.52 million. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Research analysts expect that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

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.