First National Bank of Omaha Invests $1.40 Million in EastGroup Properties, Inc. $EGP

First National Bank of Omaha purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the third quarter, HoldingsChannel.com reports. The fund purchased 8,248 shares of the real estate investment trust’s stock, valued at approximately $1,396,000.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC increased its position in EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. State of Wyoming acquired a new stake in EastGroup Properties in the second quarter worth about $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of EastGroup Properties during the third quarter worth about $34,000. Mather Group LLC. acquired a new position in shares of EastGroup Properties during the third quarter valued at about $35,000. Finally, Canton Hathaway LLC raised its position in shares of EastGroup Properties by 31.6% in the 3rd quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on EGP shares. Weiss Ratings reissued a “buy (b-)” rating on shares of EastGroup Properties in a research report on Monday, December 29th. Royal Bank Of Canada lifted their price objective on shares of EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Morgan Stanley set a $205.00 price objective on shares of EastGroup Properties in a report on Friday, January 16th. BNP Paribas Exane upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a research note on Monday, October 27th. Finally, Piper Sandler lifted their price target on EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, EastGroup Properties currently has an average rating of “Moderate Buy” and an average target price of $200.18.

EastGroup Properties Stock Down 0.7%

Shares of EGP opened at $191.52 on Thursday. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $193.68. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 2.81 and a beta of 1.11. The stock’s 50-day moving average price is $183.69 and its 200-day moving average price is $176.03.

EastGroup Properties Dividend Announcement

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

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.