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 Q3 2023

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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, Inc. (EGP) CEO Marshall Loeb on Q4 2021 Results - Earnings Call Transcript

EastGroup Properties (EGP) delivered FFO and revenue surprises of 2.53% and 0.68%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

EastGroup Properties (EGP) Q4 FFO and Revenues Surpass Estimates

JACKSON, Miss., Feb. 8, 2022 /PRNewswire/ -- Fourth Quarter 2021 Results Net Income Attributable to Common Stockholders of $1.75 Per Diluted Share for Fourth Quarter 2021 Compared to $0.94 Per Diluted Share for Fourth Quarter 2020 (Gains on Sales of Real Estate Investments Were $39 Million, or $0.95 Per Diluted Share, for Fourth Quarter 2021, and $13 Million, or $0.33 Per Diluted Share, for Fourth Quarter 2020) Funds from Operations of $1.62 Per Share for Fourth Quarter 2021 Compared to $1.38 Per Share for Fourth Quarter 2020, an Increase of 17.4% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 6.4% on a Cash Basis and 8.1% on a Straight-Line Basis for Fourth Quarter 2021 Compared to the Same Period in 2020 The Operating Portfolio was 98.7% Leased and 97.4% Occupied as of December 31, 2021; Average Occupancy of the Operating Portfolio was 97.3% for Fourth Quarter 2021 Rental Rates on New and Renewal Leases Increased an Average of 31.5% on a Straight-Line Basis Acquired 20,000 Square Feet of Operating Properties for $4 Million and 547,000 Square Feet of Value-Add Properties for $134 Million Acquired 265 Acres of Development Land for $29 Million Started Construction of One Development Project Containing 177,000 Square Feet with Projected Total Costs of $22 Million Transferred Four 100% Leased Development Projects Totaling 760,000 Square Feet to the Real Estate Portfolio Sold an Operating Property Containing 284,000 Square Feet for $45 Million (Gain of $39 Million Not Included in FFO) Declared 168 th Consecutive Quarterly Cash Dividend: Increased the Dividend by $0.20 Per Share (22.2%) to $1.10 Per Share Repaid a Mortgage with a Principal Balance of $33 Million During the Quarter with a Fixed Interest Rate of 4.09% Issued 584,573 Shares of Common Stock Pursuant to the Company's Continuous Common Equity Offering Program at an Average Price of $205.28 Per Share for Aggregate Net Proceeds of $119 Million Year 2021 Results Net Income Attributable to Common Stockholders of $3.90 Per Diluted Share for 2021 Compared to $2.76 Per Diluted Share for 2020 (Gains on Sales of Real Estate Investments Were $39 Million, or $0.96 Per Diluted Share, in 2021, and $13 Million, or $0.33 Per Diluted Share, in 2020) Funds from Operations of $6.09 Per Share for 2021 Compared to $5.38 Per Share for 2020, an Increase of 13.2% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations for 2021 Increased 5.7% on a Cash Basis and 6.8% on a Straight-Line Basis Compared to 2020 Average Occupancy of the Operating Portfolio was 97.1% for the Year 2021 as Compared to 96.7% for the Year 2020 Rental Rates on New and Renewal Leases Increased an Average of 31.2% on a Straight-Line Basis for the Year Acquired 760,000 Square Feet of Operating Properties for $108 Million and 1,046,000 Square Feet of Value-Add Properties for $171 Million Acquired 366 Acres of Development Land for $41 Million Started Construction of 17 Development Projects Containing 2,806,000 Square Feet with Projected Total Costs of $341 Million Transferred 17 Development and Value-Add Projects Totaling 2,688,000 Square Feet to the Real Estate Portfolio Development and Value-Add Program Consisted of 21 Projects in 14 Cities (3.9 Million Square Feet) at December 31, 2021 with a Projected Total Investment of $525 Million Sold an Operating Property Containing 284,000 Square Feet for $45 Million (Gain of $39 Million Not Included in FFO) Closed $175 Million of Unsecured Debt During the Year with a Weighted Average Effective Fixed Interest Rate of 2.40% Repaid $40 Million of Unsecured Debt and Two Mortgages with a Total Principal Balance of $74 Million During the Year with a Weighted Average Effective Fixed Interest Rate of 3.71% Refinanced a $100 Million Senior Unsecured Term Loan with Five Years Remaining, Reducing the Effective Fixed Interest Rate by 65 basis points to 2.10%; Added a Sustainability Metric to the Agreement Expanded Borrowing Capacity of Unsecured Bank Credit Facilities from $395 Million to $475 Million and Reduced the Interest Rate by 22.5 Basis Points; Added a Sustainability Metric to the Agreement Issued 1,551,181 Shares of Common Stock Pursuant to the Company's Continuous Common Equity Offering Program at an Average Price of $176.77 Per Share for Aggregate Net Proceeds of $271 Million EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today the results of its operations for the three and twelve months ended December 31, 2021.

EastGroup Properties Announces Fourth Quarter and Year 2021 Results

EastGroup Properties (EGP) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Earnings Season Could Be Great for EastGroup Properties (EGP)

JACKSON, Miss., Feb. 3, 2022 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "EastGroup") announced today that David M.

EastGroup Properties Announces New Director

Industrial REITs have outperformed the REIT average for 6 consecutive years. With strong tailwinds from e-commerce, and supply of new warehouse space not keeping up with demand, Industrials will probably outperform again in 2022.

EastGroup Properties: A Closer Look At The Top Industrial REIT

EastGroup Properties (EGP) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

After Plunging 15.8% in 4 Weeks, Here's Why the Trend Might Reverse for EastGroup Properties (EGP)

JACKSON, Miss., Jan. 24, 2022 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "EastGroup") announced today the income tax treatment of its 2021 distributions as described below.

EastGroup Properties Announces the Income Tax Treatment of its 2021 Distributions

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

Is EastGroup Properties (EGP) a Solid Growth Stock? 3 Reasons to Think " Yes "

JACKSON, Miss., Jan. 6, 2022 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that it will hold its Fourth Quarter Earnings Conference Call and Webcast on Wednesday, February 9, 2022, at 11:00 a.m.

EastGroup Properties Announces Fourth Quarter 2021 Earnings Conference Call and Webcast

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20 Dividend Increases To Finish 2021

Does EastGroup Properties (EGP) have what it takes to be a top stock pick for momentum investors? Let's find out.

Are You Looking for a Top Momentum Pick? Why EastGroup Properties (EGP) is a Great Choice

The company has a solid dividend growth track record.

This REIT Just Gave Its Investors a 22.2% Raise

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Dividend Increases: November 27-December 3, 2021

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What Makes EastGroup Properties (EGP) a Strong Momentum Stock: Buy Now?

EastGroup Properties continues to demonstrate that it's a quality operator in the industrial REIT market. The company's recent moves have been accretive to shareholders and the long-term outlook of the company is favorable.

EastGroup Properties Stock: A Price That's Too High, Even For Quality

EastGroup Properties, Inc. (EGP) CEO Marshall Loeb on Q3 2021 Results - Earnings Call Transcript

EastGroup Properties (EGP) delivered FFO and revenue surprises of 4.73% and 3.71%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

EastGroup Properties (EGP) Beats Q3 FFO and Revenue Estimates

News for EastGroup Properties Stock (EGP)