First National Bank of Omaha Acquires Shares of 8,248 EastGroup Properties, Inc. $EGP

First National Bank of Omaha bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,248 shares of the real estate investment trust’s stock, valued at approximately $1,396,000.

A number of other institutional investors also recently bought and sold shares of EGP. NEOS Investment Management LLC grew its holdings in EastGroup Properties by 101.7% during the 3rd quarter. NEOS Investment Management LLC now owns 4,862 shares of the real estate investment trust’s stock valued at $823,000 after purchasing an additional 2,451 shares during the last quarter. Heartland Advisors Inc. lifted its stake in EastGroup Properties by 40.4% in the third quarter. Heartland Advisors Inc. now owns 37,545 shares of the real estate investment trust’s stock worth $6,355,000 after purchasing an additional 10,800 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of EastGroup Properties by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,350,473 shares of the real estate investment trust’s stock valued at $1,244,141,000 after buying an additional 43,633 shares during the period. Northwestern Mutual Investment Management Company LLC grew its stake in shares of EastGroup Properties by 1.4% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 11,871 shares of the real estate investment trust’s stock valued at $2,009,000 after buying an additional 163 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of EastGroup Properties by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 1,025,235 shares of the real estate investment trust’s stock valued at $173,533,000 after buying an additional 117,597 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EGP has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Piper Sandler lifted their price objective on shares of EastGroup Properties from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Barclays upgraded shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. UBS Group set a $200.00 price target on shares of EastGroup Properties in a research note on Thursday, December 4th. Finally, Wall Street Zen lowered EastGroup Properties from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus target price of $200.18.

EastGroup Properties Price Performance

Shares of EGP opened at $191.52 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.01 and a current ratio of 0.01. The company has a 50 day moving average price of $183.69 and a 200-day moving average price of $176.03. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $193.68. The stock has a market capitalization of $10.21 billion, a PE ratio of 39.33, a PEG ratio of 2.81 and a beta of 1.11.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties’s payout ratio is 127.31%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.