Schroder Investment Management Group Has $35.12 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Schroder Investment Management Group decreased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,837 shares of the real estate investment trust’s stock after selling 8,521 shares during the period. Schroder Investment Management Group owned approximately 0.44% of EastGroup Properties worth $35,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EGP. Pictet Asset Management Holding SA increased its holdings in EastGroup Properties by 1.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,551 shares of the real estate investment trust’s stock worth $2,496,000 after purchasing an additional 155 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of EastGroup Properties by 7.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 64,940 shares of the real estate investment trust’s stock worth $10,422,000 after buying an additional 4,430 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of EastGroup Properties during the fourth quarter worth about $1,006,000. Norges Bank acquired a new stake in EastGroup Properties in the 4th quarter valued at approximately $100,579,000. Finally, UniSuper Management Pty Ltd lifted its stake in EastGroup Properties by 1.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 13,800 shares of the real estate investment trust’s stock valued at $2,215,000 after acquiring an additional 200 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

NYSE EGP opened at $176.06 on Wednesday. The stock has a market cap of $9.16 billion, a PE ratio of 37.86, a P/E/G ratio of 3.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a 50-day moving average of $177.34 and a 200-day moving average of $174.31. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. On average, sell-side analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s dividend payout ratio is 120.43%.

Wall Street Analyst Weigh In

EGP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They set a “buy” rating and a $180.00 price target for the company. Truist Financial lifted their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, February 14th. Raymond James upgraded shares of 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 note on Wednesday, December 11th. KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Robert W. Baird increased their price target on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.47.

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.