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 2022

Earnings data Q1 2023

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.

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JACKSON, Miss. , June 30, 2022 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that it will hold its Second Quarter Earnings Conference Call and Webcast on Wednesday, July 27, 2022, at 11:00 a.m.

EastGroup Properties Announces Second Quarter 2022 Earnings Conference Call and Webcast

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

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

EastGroup Properties (EGP) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.

Strength Seen in EastGroup Properties (EGP): Can Its 3.8% Jump Turn into More Strength?

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

EastGroup Properties (EGP) is an Incredible Growth Stock: 3 Reasons Why

EastGroup Properties (EGP) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

All You Need to Know About EastGroup Properties (EGP) Rating Upgrade to Buy

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JACKSON, Miss. , June 3, 2022 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) ("EastGroup" or the "Company") announced today that it is scheduled to present at the Nareit REITweek: 2022 Investor Conference.

EastGroup Properties Announces Presentation at the Nareit REITweek: 2022 Investor Conference

JACKSON, Miss. , June 2, 2022 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us", or "EastGroup") announced today its recent acquisition and disposition activity.

EastGroup Properties Announces Recent Acquisition and Disposition Activity

JACKSON, Miss. , May 26, 2022 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.10 per share payable on July 15, 2022 to shareholders of record of Common Stock on June 30, 2022.

EastGroup Properties Announces 170th Consecutive Quarterly Cash Dividend

EastGroup Properties' (EGP) CEO Marshall Loeb on Q3 2022 Results - Earnings Call Transcript

EastGroup Properties (EGP) delivered FFO and revenue surprises of 3.70% and 1.78%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

EastGroup Properties (EGP) Beats Q1 FFO and Revenue Estimates

First Quarter 2022 Results Net Income Attributable to Common Stockholders of $1.54 Per Diluted Share for First Quarter 2022 Compared to $0.69 Per Diluted Share for First Quarter 2021 (Gains on Sales of Real Estate Investments Were $30 Million, or $0.73 Per Diluted Share, for First Quarter 2022; There Were No Sales in First Quarter 2021) Funds from Operations of $1.68 Per Share for First Quarter 2022 Compared to $1.45 Per Share for First Quarter 2021, an Increase of 15.9% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 8.5% on a Cash Basis and 7.4% on a Straight-Line Basis for First Quarter 2022 Compared to the Same Period in 2021 The Operating Portfolio was 98.8% Leased and 97.9% Occupied as of March 31, 2022; Average Occupancy of the Operating Portfolio was 97.3% for First Quarter 2022 Rental Rates on New and Renewal Leases Increased an Average of 33.5% on a Straight-Line Basis Acquired 516,000 Square Feet of Value-Add Properties for $54 Million Acquired 50 Acres of Development Land for $14 Million Started Construction of Six Development Projects Containing 953,000 Square Feet with Projected Total Costs of $104 Million Transferred Two 100% Leased Development and Value-Add Projects Totaling 675,000 Square Feet to the Operating Portfolio Development and Value-Add Program Consisted of 26 Projects in 14 Cities (4.7 Million Square Feet) at March 31, 2022 with a Projected Total Investment of $589 Million Sold Two Operating Properties Containing 245,000 Square Feet for $39 Million (Gains of $30 Million Not Included in FFO) Declared 169 th Consecutive Quarterly Cash Dividend: $1.10 Per Share Closed $250 Million of Unsecured Debt During the Quarter with a Weighted Average Effective Fixed Interest Rate of 3.04% Refinanced a $100 Million Senior Unsecured Term Loan with Five Years Remaining, Reducing the Effective Fixed Interest Rate by 60 Basis Points to 1.80% Repaid a $75 Million Unsecured Term Loan During the Quarter with a Fixed Interest Rate of 3.03% Issued 385,538 Shares of Common Stock Pursuant to the Company's Continuous Common Equity Offering Program at an Average Price of $194.53 Per Share for Aggregate Net Proceeds of $74 Million JACKSON, Miss. , April 26, 2022 /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, 2022.

EastGroup Properties Announces First Quarter 2022 Results

Eastgroup Properties saw its IBD SmartSelect Composite Rating rise to 96 Thursday, up from 94 the day before. The post Eastgroup Properties Joins Elite List Of Stocks With 95-Plus Composite Rating appeared first on Investor's Business Daily.

Eastgroup Properties Joins Elite List Of Stocks With 95-Plus Composite Rating

JACKSON, Miss. , March 31, 2022 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that it will hold its First Quarter Earnings Conference Call and Webcast on Wednesday, April 27, 2022, at 11:00 a.m.

EastGroup Proper Announces First Quarter 2022 Earnings Conference Call and Webcast

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JACKSON, Miss., March 7, 2022 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "EastGroup") announced today that Marshall Loeb, President and CEO, will participate in a round table discussion at Citi's 2022 Global Property CEO Conference on Tuesday, March 8, 2022, at 11:15 a.m.

EastGroup Properties Announces Presentation at Citi's 2022 Global Property CEO Conference

JACKSON, Miss., March 4, 2022 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.10 per share payable on April 14, 2022 to shareholders of record of Common Stock on March 31, 2022.

EastGroup Properties Announces 169th Consecutive Quarterly Cash Dividend

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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.

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