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

Pacer Advisors Inc. trimmed its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & 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. owned 0.10% of EastGroup Properties worth $7,824,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC boosted its position in EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 61 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 302 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of EastGroup Properties by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 255 shares during the period. Quarry LP acquired a new position in EastGroup Properties in the 3rd quarter valued at about $102,000. Finally, Versant Capital Management Inc raised its holdings in EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 95 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $168.44 on Thursday. The stock has a market cap of $8.34 billion, a PE ratio of 34.80, a P/E/G ratio of 3.12 and a beta of 1.00. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month high of $192.61. The business’s 50-day moving average price is $165.73 and its two-hundred day moving average price is $176.42.

EastGroup Properties Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $186.00 price objective on shares of EastGroup Properties in a report on Wednesday, October 30th. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Barclays reduced their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. StockNews.com lowered shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.88.

About EastGroup Properties

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.