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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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.

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A Real Estate Investment Trust (REIT) is a company that owns, operates, or finances income-generating real estate. REITs provide investors with an opportunity to invest in real estate without directly owning properties, offering advantages such as regular income through dividends, portfolio diversification, potential tax benefits, professional management, and liquidity through publicly traded shares.

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JACKSON, Miss. , May 25, 2023 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.25 per share payable on July 14, 2023, to shareholders of record of Common Stock on June 30, 2023.

EastGroup Properties Announces 174th Consecutive Quarterly Cash Dividend

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EastGroup Properties (EGP) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

EastGroup Properties (EGP) Could Find a Support Soon, Here's Why You Should Buy the Stock Now

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

Here is Why Growth Investors Should Buy EastGroup Properties (EGP) Now

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Despite the economic slowdown, high interest rates and uneven recovery of sectors, Zacks REIT and Equity Trust - Other industry stocks VICI, COLD and EGP may benefit from growth in the digital economy, resilient demand for food infrastructure and easing of travel restrictions.

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No slowdown here. After the worst year of performance on record in 2022, Industrial REITs have rebounded this year after earnings results showed a surprising re-strengthening of property-level fundamentals. Recent earnings results showed that demand continues to substantially outpace available supply. Rent growth reaccelerated in early-2023, with rental spreads averaging over 40%, while occupancy rates climbed to fresh record.

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EastGroup is an industrial REIT with a focus on the U.S. Sun Belt. The Sun Belt has experienced in-migration for years.

This Industrial REIT Is Preparing Today for a Future Filled With Growth in the Sun Belt

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Most REITs are heavily discounted. Even rapidly growing industrial REITs are now undervalued.

Prologis Vs. EastGroup Properties: Which Is The Best REIT To Buy Today?

EastGroup Properties (EGP) is well positioned to outperform the market, as it exhibits above-average growth in financials.

Looking for a Growth Stock? 3 Reasons Why EastGroup Properties (EGP) is a Solid Choice

EastGroup Properties operates industrial properties in major Sunbelt markets across the U.S. Recent results reflect continuing strength in most of their primary operating regions, though weakness can be seen in some markets.

EastGroup Properties: Portfolio Remains Healthy But Signs Of Stress In Some Markets

EastGroup Properties, Inc. (EGP) Q1 2023 Earnings Call Transcript.

EastGroup Properties, Inc. (EGP) Q1 2023 Earnings Call Transcript

EastGroup Properties (EGP) came out with quarterly funds from operations (FFO) of $1.82 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $1.68 per share a year ago.

EastGroup Properties (EGP) Meets Q1 FFO Estimates

First Quarter 2023 Results Net Income Attributable to Common Stockholders of $1.02 Per Diluted Share for First Quarter 2023 Compared to $1.54 Per Diluted Share for First Quarter 2022 (Gains on Sales of Real Estate Investments Were $5 Million, or $0.11 Per Diluted Share, for First Quarter 2023; Gains on Sales of Real Estate Investments Were $30 Million, or $0.73 Per Diluted Share, for First Quarter 2022) Funds from Operations ("FFO") of $1.84 Per Share for First Quarter 2023 Compared to $1.68 Per Share for First Quarter 2022, an Increase of 9.5% FFO Excluding Gain on Casualties and Involuntary Conversion ($.02 Per Share in First Quarter 2023) of $1.82 Per Share Compared to $1.68 Per Share for the Same Quarter Last Year, an Increase of 8.3% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 7.6% on a Straight-Line Basis and 11.0% on a Cash Basis for First Quarter 2023 Compared to the Same Period in 2022 Operating Portfolio was 98.7% Leased and 97.9% Occupied as of March 31, 2023; Average Occupancy of Operating Portfolio was 98.1% for First Quarter 2023 as Compared to 97.3% for First Quarter 2022 Rental Rates on New and Renewal Leases Increased an Average of 48.5% on a Straight-Line Basis Started Construction of Four Development Projects Containing 1,033,000 Square Feet with Projected Total Costs of Approximately $141 Million Transferred Three Development and Value-Add Projects Totaling 716,000 Square Feet to the Operating Portfolio, Which Are Collectively 100% Leased Development and Value-Add Program Consisted of 21 Projects in 13 Cities (4.3 Million Square Feet) at March 31, 2023 with a Projected Total Investment of Approximately $553 Million Sold One Operating Property Containing 125,000 Square Feet for $10 Million (Gain of $5 Million Not Included in FFO) Declared 173 rd Consecutive Quarterly Cash Dividend: $1.25 Per Share Closed a $100 Million Senior Unsecured Term Loan with a Seven-Year Term and a Total Effectively Fixed Interest Rate of 5.27% Repaid a $65 Million Unsecured Term Loan During the Quarter with a Total Effectively Fixed Interest Rate of 2.31% Expanded the Borrowing Capacity of the Unsecured Bank Credit Facilities from $475 Million to $675 Million Sold 821,034 Shares of Common Stock Pursuant to the Company's Continuous Common Equity Offering Program at a Weighted Average Price of $163.51 Per Share for Aggregate Net Proceeds of $133 Million JACKSON, Miss. , April 25, 2023 /PRNewswire/ -- 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, 2023.

EastGroup Properties Announces First Quarter 2023 Results

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While decelerating consumer demand and economic uncertainty pose challenges, industrial REITs like PLD, REXR, COLD and EGP exhibit resilience through strong occupancy and healthy rates.

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We have narrowed our search to five U.S. REITs that are set to report first-quarter 2023 earnings results. These are: AGNC, REXR, VICI, EGP and EQIX.

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