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

Pacer Advisors Inc. lowered its position in EastGroup Properties, Inc. (NYSE:EGP) by 2.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 62,298 shares of the real estate investment trust’s stock after selling 1,363 shares during the period. Pacer Advisors Inc.’s holdings in EastGroup Properties were worth $11,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EGP. Price T Rowe Associates Inc. MD lifted its position in EastGroup Properties by 7.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 975,450 shares of the real estate investment trust’s stock valued at $175,359,000 after purchasing an additional 71,614 shares during the last quarter. Boston Partners grew its position in EastGroup Properties by 26.1% in the first quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock worth $171,399,000 after acquiring an additional 197,427 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in EastGroup Properties by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 728,092 shares of the real estate investment trust’s stock valued at $123,848,000 after acquiring an additional 53,083 shares during the last quarter. Bank of New York Mellon Corp raised its position in EastGroup Properties by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 479,323 shares of the real estate investment trust’s stock valued at $81,533,000 after purchasing an additional 2,418 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in EastGroup Properties by 22.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 343,140 shares of the real estate investment trust’s stock worth $64,105,000 after purchasing an additional 62,381 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Up 1.6 %

NYSE:EGP opened at $171.98 on Friday. EastGroup Properties, Inc. has a 12 month low of $155.23 and a 12 month high of $192.61. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $179.14 and a 200-day moving average price of $176.97. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 2.20 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm had revenue of $162.88 million for the quarter, compared to the consensus estimate of $161.52 million. During the same period in the previous year, the firm posted $1.95 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. Equities analysts predict that EastGroup Properties, Inc. will post 8.36 EPS for the current year.

Analyst Upgrades and Downgrades

EGP has been the subject of several research reports. KeyCorp upped their target price on EastGroup Properties from $178.00 to $198.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley boosted their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Wedbush reissued an “outperform” rating and issued a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. Mizuho upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and increased their target price for the company from $175.00 to $200.00 in a report on Thursday, September 5th. Finally, StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $191.21.

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.