First National Bank of Omaha Takes $1.32 Million Position in EastGroup Properties, Inc. $EGP

First National Bank of Omaha bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,500 shares of the real estate investment trust’s stock, valued at approximately $1,316,000.

Several other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp grew its stake in EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 945 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of EastGroup Properties by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after buying an additional 41,538 shares during the last quarter. Jane Street Group LLC grew its position in shares of EastGroup Properties by 309.8% during the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after buying an additional 12,003 shares in the last quarter. Focus Partners Wealth increased its stake in shares of EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after buying an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in EastGroup Properties by 1.9% in the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Activity at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EGP. Barclays boosted their target price on shares of EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $235.00 price objective on shares of EastGroup Properties in a report on Monday, July 27th. Raymond James Financial began coverage on EastGroup Properties in a research note on Wednesday, June 17th. They set an “outperform” rating and a $241.00 price objective on the stock. Royal Bank Of Canada increased their target price on EastGroup Properties from $208.00 to $220.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Finally, Morgan Stanley lifted their target price on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.11.

EastGroup Properties Trading Up 0.0%

EastGroup Properties stock opened at $202.18 on Thursday. The firm’s 50-day moving average is $207.73 and its 200-day moving average is $199.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. EastGroup Properties, Inc. has a 1 year low of $162.95 and a 1 year high of $226.71. The company has a market cap of $10.87 billion, a P/E ratio of 35.47, a PEG ratio of 2.95 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $193.33 million during the quarter, compared to analyst estimates of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, equities analysts expect that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

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.