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 Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

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.

EastGroup Properties (EGP) delivered FFO and revenue surprises of 0.57% and 0.36%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

EastGroup Properties (EGP) Q3 FFO and Revenues Top Estimates

Third Quarter 2022 Results Net Income Attributable to Common Stockholders of $0.87 Per Diluted Share for Third Quarter 2022 Compared to $0.76 Per Diluted Share for Third Quarter 2021 Funds from Operations of $1.77 Per Share for Third Quarter 2022 Compared to $1.55 Per Share for Third Quarter 2021, an Increase of 14.2% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 8.7% on a Cash Basis and 6.6% on a Straight-Line Basis for Third Quarter 2022 Compared to the Same Period in 2021 Operating Portfolio was 99.0% Leased and 98.5% Occupied as of September 30, 2022; Average Occupancy of Operating Portfolio was 98.3% for Third Quarter 2022 Rental Rates on New and Renewal Leases Increased an Average of 39.4% on a Straight-Line Basis Acquired 299,000 Square Feet of Value-Add Properties for Approximately $21 Million Acquired 108.5 Acres of Development Land for Approximately $23 Million Started Construction of Four Development Projects Containing 842,000 Square Feet with Projected Total Costs of Approximately $108 Million Transferred Six Development Projects Totaling 817,000 Square Feet to the Operating Portfolio, Which Are Collectively 94% Leased Development and Value-Add Program Consisted of 27 Projects in 14 Cities (4.9 Million Square Feet) at September 30, 2022 with a Projected Total Investment of Approximately $601 Million Declared 171 st  Consecutive Quarterly Cash Dividend: Increased the Dividend by $0.15 Per Share (13.6%) to $1.25 Per Share Closed $125 Million of Senior Unsecured Term Loans During the Quarter with a Weighted Average Effective Fixed Interest Rate of 4.04% Agreed to Terms on $150 Million of Unsecured Debt During the Quarter: $75 Million has an 11-Year Term and a Fixed Interest Rate of 4.90% and $75 Million has a 12-Year Term and a Fixed Interest Rate of 4.95% JACKSON, Miss. , Oct. 25, 2022  /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today the results of its operations for the three and nine months ended September 30, 2022.

EastGroup Properties Announces Third Quarter 2022 Results

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MDV vs. EGP: Which Stock Is the Better Value Option?

EastGroup Properties (EGP) saw its shares surge in the last session with trading volume being higher than average. The latest trend in FFO estimate revisions may not translate into further price increase in the near term.

EastGroup Properties (EGP) Moves 3.4% Higher: Will This Strength Last?

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JACKSON, Miss. , Sept. 28, 2022 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that it will hold its Third Quarter Earnings Conference Call and Webcast on Wednesday, October 26, 2022, at 11:00 a.m.

EastGroup Properties Announces Third Quarter 2022 Earnings Conference Call and Webcast

MDV or EGP: Which Is the Better Value Stock Right Now?

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Maintaining its impressive track record of increasing dividends, EastGroup Properties (EGP) announces a 13.6% hike in quarterly distributions.

EastGroup (EGP) Increases Dividend by 13.6%: Worth a Look?

EastGroup Properties joined its industrial REIT peer set in reporting impressive 2Q earnings. EGP's tenant base is deep. AMZN, the largest tenant, represents only 2.8% of revenues.

Amazon Sneezed, EastGroup Properties Caught A Cold

Earlier this year, I identified EastGroup Properties as one of 12 REITs likely to outperform in 2022. That prediction hasn't panned out so far. I also predicted Industrial REITs would outperform the REIT average this year. That prediction isn't doing well either, but the year is only half over.

EastGroup Properties: Rocket On The Launching Pad

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EastGroup Properties, Inc. (NYSE:EGP ) Q2 2022 Earnings Conference Call July 27, 2022 11:00 AM ET Company Participants Marshall Loeb - President and CEO Keena Frazier - Director, Leasing Statistics Brent Wood - Chief Financial Officer Conference Call Participants Connor Mitchell - Piper Sandler Jeff Spector - Bank of America Connor Siversky - Berenberg Michael Carroll - RBC Capital Markets Craig Mailman - Citi Todd Thomas - KeyBanc Capital Markets Nick Yulico - Baird Ronald Kamdem - Morgan Stanley Vince Tibone - Green Street Advisors Amit Nihalani - Mizuho Jon Petersen - Jefferies Operator Good day. And welcome to the EastGroup Properties Second Quarter 2022 Earnings Conference Call and Webcast.

EastGroup Properties, Inc.'s (EGP) CEO Marshall Loeb on Q2 2022 Results - Earnings Call Transcript

EastGroup Properties (EGP) delivered FFO and revenue surprises of 1.78% and 3.85%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

EastGroup Properties (EGP) Q2 FFO and Revenues Surpass Estimates

Second Quarter 2022 Results Net Income Attributable to Common Stockholders of $1.09 Per Diluted Share for Second Quarter 2022 Compared to $0.69 Per Diluted Share for Second Quarter 2021 (Gains on Sales of Real Estate Investments Were $11 Million, or $0.25 Per Diluted Share, for Second Quarter 2022; There Were No Sales in Second Quarter 2021) Funds from Operations of $1.72 Per Share for Second Quarter 2022 Compared to $1.47 Per Share for Second Quarter 2021, an Increase of 17.0% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 9.5% on a Cash Basis and 7.7% on a Straight-Line Basis for Second Quarter 2022 Compared to the Same Period in 2021 The Operating Portfolio was 99.1% Leased and 98.5% Occupied as of June 30, 2022; Average Occupancy of the Operating Portfolio was 98.1% for Second Quarter 2022 Rental Rates on New and Renewal Leases Increased an Average of 37.2% on a Straight-Line Basis Acquired Tulloch Corporation, the Owner of an Industrial Real Estate Portfolio Located within the San Francisco and Sacramento Markets, Comprised of 14 Properties Totaling Approximately 1.7 Million Square Feet and Two Land Parcels Totaling 10.5 Acres Acquired 229,000 Square Feet of Value-Add Properties for $47 Million Acquired 116.8 Acres of Development Land (In Addition to the Land Owned by Tulloch Corporation) for $35 Million Started Construction of Three Development Projects Containing 522,000 Square Feet with Projected Total Costs of $70 Million Transferred Three Development and Value-Add Projects Totaling 842,000 Square Feet to the Operating Portfolio, Which Are Collectively 99% Leased Development and Value-Add Program Consisted of 28 Projects in 15 Cities (4.6 Million Square Feet) at June 30, 2022 with a Projected Total Investment of $558 Million Sold One Operating Property in Houston Containing 42,000 Square Feet for $13 Million (Gain of $11 Million Not Included in FFO) Declared 170 th Consecutive Quarterly Cash Dividend: $1.10 Per Share Issued and Funded $150 Million of Unsecured Debt During the Quarter with a 10-Year Term and a Fixed Interest Rate of 3.03% JACKSON, Miss. , July 26, 2022 /PRNewswire/ -- 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, 2022.

EastGroup Properties Announces Second Quarter 2022 Results

EastGroup Properties (EGP) could produce exceptional returns because of its solid growth attributes.

3 Reasons Why Growth Investors Shouldn't Overlook EastGroup Properties (EGP)

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The mean of analysts' price targets for EastGroup Properties (EGP) points to a 26.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Does EastGroup Properties (EGP) Have the Potential to Rally 27% as Wall Street Analysts Expect?

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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.

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