6,500 Shares in EastGroup Properties, Inc. $EGP Acquired by First National Bank of Omaha

First National Bank of Omaha purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,500 shares of the real estate investment trust's stock, valued at approximately $1,316,000.

Other institutional investors also recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of EastGroup Properties in the 2nd quarter worth $27,000. Glen Eagle Advisors LLC boosted its holdings in EastGroup Properties by 96.3% in the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 104 shares during the last quarter. Parallel Advisors LLC grew its position in EastGroup Properties by 53.5% during the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 85 shares during the period. Clearstead Advisors LLC grew its position in EastGroup Properties by 114.9% during the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 139 shares during the period. Finally, Avalon Trust Co acquired a new stake in EastGroup Properties during the first quarter worth about $46,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EGP shares. Truist Financial raised their price objective on EastGroup Properties from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on EastGroup Properties from $213.00 to $221.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. BTIG Research raised their price target on shares of EastGroup Properties from $218.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Citigroup lifted their price target on shares of EastGroup Properties from $235.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Finally, Piper Sandler reiterated an "overweight" rating on shares of EastGroup Properties in a research note on Thursday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $221.11.

EastGroup Properties Trading Up 0.0%

Shares of EGP opened at $202.18 on Thursday. The stock's 50-day moving average is $207.73 and its two-hundred day moving average is $199.10. The stock has a market cap of $10.87 billion, a PE ratio of 35.47, a P/E/G ratio of 2.95 and a beta of 1.02. EastGroup Properties, Inc. has a 12 month low of $162.95 and a 12 month high of $226.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16.

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

Insider Buying and Selling

In other EastGroup Properties 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 value of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company's stock.

EastGroup Properties Profile

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.

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