Schroder Investment Management Group Sells 8,521 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Schroder Investment Management Group reduced its stake in EastGroup Properties, Inc. (NYSE:EGP) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,837 shares of the real estate investment trust’s stock after selling 8,521 shares during the period. Schroder Investment Management Group’s holdings in EastGroup Properties were worth $35,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in shares of EastGroup Properties by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 72 shares during the period. Principal Securities Inc. lifted its position in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 84 shares during the period. Versant Capital Management Inc grew its stake in 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 buying an additional 95 shares in the last quarter. waypoint wealth counsel increased its holdings in EastGroup Properties by 1.9% in the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after buying an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of EastGroup Properties by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust’s stock valued at $1,612,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

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

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. As a group, equities analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com downgraded EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $185.00 to $200.00 in a research note on Wednesday, December 11th. Evercore ISI restated an “in-line” rating and set a $185.00 price objective (up from $181.00) on shares of EastGroup Properties in a research report on Monday, March 17th. Finally, Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus price target 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.