EastGroup Properties

EastGroup Properties, Inc. is an internally-managed equity real estate investment trust. The firm is engaged in the development, acquisition, and operation of industrial properties in the United States. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina. The company was founded in 1969 and is headquartered in Ridgeland, MS.

Earnings data Q1 2021

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Earnings data Q4 2021

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Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

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Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

EastGroup Properties surpasses earnings expectations, eyes cautious growth strategy

EastGroup Properties (EGP) exceeded FFO guidance, achieved record performance in 2022, and maintains a cautious approach in the current economic environment. Challenges include capital market volatility and delays in equipment procurement, while opportunities lie in the development pipeline and stable cap rates for acquisitions.

EastGroup Properties (EGP) excels in Q1 2023 amidst market uncertainties

EastGroup Properties (EGP) delivered a strong performance in Q1 2023, showcasing operational excellence and prudent financial management amidst market uncertainties. While facing challenges like potential economic downturns, EGP remains poised to capitalize on opportunities in strategic transactions and rent growth across key markets.

EastGroup Properties excels in Q2, eyes growth amidst challenges

EastGroup Properties delivered strong financial performance and highlighted positive market trends and growth opportunities.
While facing challenges in certain markets and securing capital, the company remains well-positioned for future success.
Strategic focus on development projects and diverse funding sources will drive growth amidst market uncertainties.
Overall, EastGroup's operational excellence and strategic initiatives position it for sustained growth and value creation.

EastGroup Properties (EGP) reports strong Q3 performance and eyes value creation opportunities

EastGroup Properties (EGP) delivered a robust Q3 performance with rising FFO per share and strong operational metrics. Despite challenges like construction delays and G&A expense reductions, the company is focused on value creation and seizing opportunities in the market. EGP's strategic approach to acquisitions and developments positions it well for future growth.

EastGroup Properties reports record earnings, eyes strategic acquisitions for growth

EastGroup Properties delivered a strong performance in Q4 2023, with record FFO per share and robust occupancy metrics.
The company's strategic focus on acquisitions, rent growth, and financial prudence positions it well for future growth and value creation.
Challenges in certain markets and cautious approach to acquisitions highlight the need for strategic risk management and market responsiveness.
Opportunities in acquisitions, rent growth, nearshoring activities, and development starts offer avenues for sustained growth and portfolio expansion.

EastGroup Properties excels in Q1, eyes growth in Raleigh and Nashville markets

EastGroup Properties showcases strong Q1 performance with a focus on strategic acquisitions, high occupancies, and navigating economic challenges. The company remains optimistic about future growth, emphasizing return hurdles for acquisitions and market resiliency. Opportunities lie in targeted market growth, unique acquisitions, and adapting to evolving tenant behavior.

EastGroup Properties (EGP) excels in Q3, eyes growth amid challenges

EastGroup Properties (EGP) reported strong financial performance and operational metrics in Q3 2024.
The company remains focused on strategic acquisitions, development, and maximizing value for shareholders.
Challenges include economic uncertainties and operational risks, but EGP is well-positioned to capitalize on growth opportunities.
With a positive outlook, EGP's emphasis on acquisitions, rent increases, and portfolio expansion bodes well for future success.

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EastGroup Properties, Inc. is an internally-managed equity real estate investment trust, which engages in the development, acquisition, and operation of industrial properties. The company was founded in 1969 and is headquartered in Ridgeland, MS.

EastGroup Properties (EGP) possesses solid growth attributes, which could help it handily outperform the market.

3 Reasons Why EastGroup Properties (EGP) Is a Great Growth Stock

EastGroup Properties, Inc. (EGP) CEO Marshall Loeb on Q2 2021 Results - Earnings Call Transcript

JACKSON, Miss., July 27, 2021 /PRNewswire/ -- Second Quarter 2021 Results Net Income Attributable to Common Stockholders of $0.69 Per Diluted Share for Second Quarter 2021 Compared to $0.60 Per Diluted Share for Second Quarter 2020 Funds from Operations of $1.47 Per Share for Second Quarter 2021 Compared to $1.33 Per Share for Second Quarter 2020, an Increase of 10.5% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 5.6% on a Cash Basis and 5.9% on a Straight-Line Basis for Second Quarter 2021 Compared to the Same Period in 2020 98.3% Leased and 96.8% Occupied as of June 30, 2021; Average Occupancy of 96.8% for Second Quarter 2021 Rental Rates on New and Renewal Leases Increased an Average of 31.2% on a Straight-Line Basis Acquired 79,000 Square Feet of Operating Properties for $9 Million and 264,000 Square Feet of Value-Add Properties for $20 Million Started Construction of Five Development Projects Containing 972,000 Square Feet with Projected Total Costs of $134 Million Transferred Six 100% Leased Development and Value-Add Projects (926,000 Square Feet) to the Real Estate Portfolio Development and Value-Add Program Consisted of 16 Projects in 12 Cities (3.0 Million Square Feet) at June 30, 2021 with a Projected Total Investment of $329 Million Declared 166 th Consecutive Quarterly Cash Dividend: $0.79 Per Share Closed on $125 Million of Senior Unsecured Notes With a Fixed Interest Rate of 2.74% Expanded Borrowing Capacity of Unsecured Bank Credit Facilities from $395 Million to $475 Million with Full Capacity Available as of June 30, 2021; Added a Sustainability Metric to the Credit Agreement Issued 370,177 Shares of Common Stock Pursuant to the Company's Continuous Common Equity Offering Program at an Average Price of $162.08 Per Share for Aggregate Net Proceeds of $59 Million EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today the results of its operations for the three and six months ended June 30, 2021.

EastGroup Properties Announces Second Quarter 2021 Results

JACKSON, Miss., July 26, 2021 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company" or "EastGroup") announced today an update on the Company's continued sustainability efforts, including the incorporation of a sustainability-linked metric into its credit facility renewal.

EastGroup Properties Announces Sustainability Updates Including Renewal of Credit Facility

JACKSON, Miss., July 2, 2021 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) announced today that it will hold its Second Quarter Earnings Conference Call and Webcast on Wednesday, July 28, 2021 at 11:00 A.M.

EastGroup Properties Announces Second Quarter 2021 Earnings Conference Call and Webcast

EGP has a stellar investment strategy, well-located portfolio in sunbelt states, and long track record of strong growth. But the stock's valuation is the highest it has ever been, perhaps pricing in more growth than is reasonable to expect.

EastGroup Properties: Wrestling Over This Excellent But Richly Valued Industrial REIT

JACKSON, Miss., June 7, 2021 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) ("EastGroup" or the "Company") announced today that it is scheduled to present at the Nareit REITweek: 2021 Investor Conference.

EastGroup Properties Announces Presentation at the Nareit REITweek: 2021 Investor Conference

JACKSON, Miss., May 27, 2021 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) announced today that its Board of Directors declared a quarterly cash dividend of $0.79 per share payable on July 15, 2021 to shareholders of record of Common Stock on June 30, 2021.

EastGroup Properties Announces 166th Consecutive Quarterly Cash Dividend

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does EastGroup Properties (EGP) have what it takes?

EastGroup Properties (EGP) is a Top Dividend Stock Right Now: Should You Buy?

Why EastGroup Properties (EGP) is a Top Dividend Stock for Your Portfolio

EastGroup Properties, Inc. (EGP) CEO Marshall Loeb on Q1 2021 Results - Earnings Call Transcript

JACKSON, Miss., April 27, 2021 /PRNewswire/ --  First Quarter 2021 Results Net Income Attributable to Common Stockholders of $0.69 Per Diluted Share for First Quarter 2021 Compared to $0.60 Per Diluted Share for First Quarter 2020 Funds from Operations of $1.45 Per Share for First Quarter 2021 Compared to $1.31 Per Share for First Quarter 2020, an Increase of 10.7% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 5.9% on a Cash Basis and 6.3% on a Straight-Line Basis for First Quarter 2021 Compared to the Same Period in 2020 98.3% Leased and 97.2 % Occupied as of March 31, 2021; Average Occupancy of 97.0% for First Quarter 2021 Rental Rates on New and Renewal Leases Increased an Average of 25.8% on a Straight-Line Basis Acquired 235,000 Square Feet of Value-Add Properties for $17 Million Started Construction of Two Development Projects Containing 346,000 Square Feet with Projected Total Costs of $29 Million Transferred Five 100% Leased Development and Value-Add Projects (619,000 Square Feet) to the Real Estate Portfolio Development and Value-Add Program Consisted of 15 Projects in 12 Cities (2.7 Million Square Feet) at March 31, 2021 with a Projected Total Investment of $260 Million Closed a $50 Million Senior Unsecured Term Loan with a Four-Year Term and a Total Effective Fixed Interest Rate of 1.55% Agreed to Terms on $125 Million of Senior Unsecured Notes With a Fixed Interest Rate of 2.74% Repaid a Mortgage with a Principal Balance of $41 Million During the Quarter with a Fixed Interest Rate of 4.75% Remaining Available Capacity of $303 Million on the $395 Million Lines of Credit as of March 31, 2021 Declared 165 th Consecutive Quarterly Cash Dividend: $0.79 Per Share Issued 317,538 Shares of Common Stock Pursuant to the Company's Continuous Common Equity Offering Program at an Average Price of $141.72 Per Share for Aggregate Net Proceeds of $44 Million EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today the results of its operations for the three months ended March 31, 2021.

EastGroup Properties Announces First Quarter 2021 Results

Why EastGroup Properties (EGP) is a Great Dividend Stock Right Now

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This is Why EastGroup Properties (EGP) is a Great Dividend Stock

JACKSON, Miss., March 29, 2021 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) announced today that it will hold its First Quarter Earnings Conference Call and Webcast on Wednesday, April 28, 2021 at 11:00 A.M.

EastGroup Properties Announces First Quarter 2021 Earnings Conference Call and Webcast

JACKSON, Miss., March 5, 2021 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) announced today that its Board of Directors declared a quarterly cash dividend of $0.79 per share payable on April 15, 2021 to shareholders of record of Common Stock on March 31, 2021. This dividend is the...

EastGroup Properties Announces 165th Consecutive Quarterly Cash Dividend

Strength in the e-commerce market will keep the demand for EastGroup's properties high in the coming years. Expansion in the portfolio by around 5% will likely contribute to revenue growth this year.

EastGroup Properties: Positive Outlook For Warehouse-Heavy Portfolio, But Stock Price Is High

EastGroup Properties, Inc. (EGP) CEO Marshall Loeb on Q4 2020 Results - Earnings Call Transcript

EastGroup Properties (EGP) delivered FFO and revenue surprises of 0.73% and -0.01%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

EastGroup Properties (EGP) Q4 FFO Beat Estimates

JACKSON, Miss., Feb. 9, 2021 /PRNewswire/ -- Fourth Quarter 2020 Results Net Income Attributable to Common Stockholders of $0.94 Per Diluted Share for Fourth Quarter 2020 Compared to $1.28 Per Diluted Share for Fourth Quarter 2019 (Gains on Sales of Real Estate Investments Were $13...

EastGroup Properties Announces Fourth Quarter and Year 2020 Results

JACKSON, Miss., Jan. 29, 2021 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company") is saddened to announce the recent passing of Leland R. Speed, Chairman Emeritus of the Company's Board of Directors and a director of the Company, at the age of 88. Mr. Speed was the...

EastGroup Properties Announces Passing of Chairman Emeritus of the Board, Leland R. Speed

JACKSON, Miss., Jan. 28, 2021 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company") announced today the income tax treatment of its 2020 distributions as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax...

EastGroup Properties Announces the Income Tax Treatment of its 2020 Distributions

JACKSON, Miss., Dec. 15, 2020 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) announced today that it will hold its Fourth Quarter Earnings Conference Call and Webcast on Wednesday, February 10, 2021 at 11:00 a.m. Eastern Time. On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will...

EastGroup Properties Announces Fourth Quarter 2020 Earnings Conference Call and Webcast

JACKSON, Miss., Dec. 3, 2020 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) announced today that its Board of Directors declared a quarterly cash dividend of $.79 per share payable on January 15, 2021 to shareholders of record of Common Stock on December 31, 2020. This dividend is the...

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