Eastgroup Pptys Inc Stock Price, News & Analysis

EastGroup Properties (NYSE: EGP) has declared a quarterly cash dividend of $1.40 per share, payable on July 15, 2025, to shareholders of record as of June 30, 2025. This marks the company's 182nd consecutive quarterly distribution, representing an annualized dividend rate of $5.60 per share. The REIT has maintained or increased its dividend for 32 consecutive years, with increases in 29 of those years, including the last 13 years consecutively.

EastGroup Properties is a self-administered equity REIT focused on industrial properties development, acquisition, and operation across high-growth U.S. markets, particularly in Texas, Florida, California, Arizona, and North Carolina. The company's portfolio currently encompasses approximately 63.1 million square feet, targeting business distribution spaces ranging from 20,000 to 100,000 square feet.

EastGroup Properties (NYSE: EGP) reported Q1 2025 results with net income of $1.14 per diluted share, down from $1.22 in Q1 2024. Funds from Operations (FFO) reached $2.12 per share, a 7.1% increase year-over-year.

Key operational highlights include:

• Operating portfolio was 97.3% leased and 96.5% occupied as of March 31, 2025
• Rental rates on new and renewal leases increased 46.9% on a straight-line basis
• Same Property Net Operating Income grew 5.3% on a straight-line basis
• Two development projects totaling 375,000 square feet were transferred to operating portfolio
• Signed 10 development project leases totaling 414,000 square feet

The company maintained strong financial metrics with a debt-to-market capitalization of 13.7% and declared a quarterly dividend of $1.40 per share. For 2025, EastGroup projects FFO per share to be between $8.84 and $9.04.

EastGroup Properties (NYSE: EGP) has announced a significant initiative to standardize key non-GAAP property metrics across the industrial REIT sector. The company has formed a coalition with First Industrial Realty Trust, Prologis, and STAG Industrial to enhance sector-wide comparability.

The updated methodology reaffirms the 2018 harmonization initiative's approach to determining property stabilization, occupancy, rent change, and customer retention. The annual same-store portfolio will continue to include only properties stabilized in both current and prior periods, with specific criteria for excluding value-added and redevelopment properties.

The standardization will be implemented in EastGroup's 2025 guidance and is not expected to materially impact the company's non-GAAP metrics for periods before 2025.

EastGroup Properties (NYSE: EGP) has scheduled its First Quarter 2025 Earnings Conference Call and Webcast for April 24, 2025, at 11:00 a.m. Eastern Time. CEO Marshall Loeb and CFO Brent Wood will present the quarterly results and discuss the company's 2025 earnings outlook. Financial results will be released after market close on April 23, 2025.

The company, a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered equity REIT specializing in industrial properties across high-growth U.S. markets, particularly in Texas, Florida, California, Arizona, and North Carolina. Their portfolio encompasses approximately 63.1 million square feet, including development projects and value-add acquisitions in lease-up and under construction.

EastGroup Properties (NYSE: EGP) has declared its 181st consecutive quarterly cash dividend of $1.40 per share, payable on April 15, 2025, to shareholders of record on March 31, 2025. The dividend represents an annualized rate of $5.60 per share.

The company has maintained or increased its dividend for 32 consecutive years, with increases in 29 of those years, including the last 13 years consecutively. EastGroup, a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered REIT focusing on industrial properties in high-growth U.S. markets, particularly in Texas, Florida, California, Arizona, and North Carolina.

The company's portfolio currently includes approximately 63.1 million square feet of business distribution space, primarily serving customers requiring 20,000 to 100,000 square feet in supply-constrained submarkets.

EastGroup Properties (NYSE: EGP) reported strong portfolio performance with 97.1% leasing and 95.8% occupancy rates as of February 27, 2025. The company secured 1,438,000 square feet of new and renewal leases in Q1 2025, achieving significant rental rate increases of 45.0% on a straight-line basis and 30.9% on a cash basis.

In Charlotte, following Conn's Inc.'s lease rejection due to bankruptcy, EastGroup successfully re-leased the 300,000 square foot space with a 20% rental rate increase for a 7.5-year term starting March 31, 2025. The company also executed three development property leases totaling 151,000 square feet.

On the financial front, EastGroup entered forward equity sale agreements for 611,956 shares at $180.27 per share, potentially generating $110 million in proceeds. Additionally, the company settled previous forward equity agreements by issuing 214,138 shares for net proceeds of approximately $37 million.

EastGroup Properties (NYSE: EGP) reported its Q4 and full-year 2024 results, showing solid performance with FFO per share increasing 5.9% to $2.15 in Q4 and 7.9% to $8.31 for the full year. The company's operating portfolio maintained strong occupancy at 97.1% leased and 96.1% occupied as of December 31, 2024.

Key highlights include impressive rental rate growth, with new and renewal leases increasing by 46.6% in Q4 and 53.0% for the full year on a straight-line basis. The company expanded its portfolio through acquisitions of three operating properties totaling 1,790,000 square feet and 26.8 acres of development land for approximately $257 million in Q4.

Development activity remained robust with five new projects started in Q4, totaling 802,000 square feet with projected costs of $125 million. Same Property Net Operating Income showed positive growth, increasing 3.6% on a straight-line basis and 3.4% on a cash basis in Q4 2024 compared to Q4 2023.

EastGroup Properties (NYSE: EGP) has released details about the tax treatment of its 2024 distributions. The company distributed a total of $5.21028 per share throughout the year, with all distributions classified as ordinary dividends. The distributions were made across five payments, ranging from $0.27342 to $1.40000 per share.

All distributions qualify as Section 199A dividends, which may be eligible for the 20% qualified business income deduction for non-corporate taxpayers. No portion of the distributions was classified as capital gains or nondividend distributions. The company, a self-administered REIT, maintains a portfolio of approximately 63.1 million square feet of industrial properties, primarily focusing on business distribution space in major Sunbelt markets.

EastGroup Properties (NYSE: EGP) has scheduled its Fourth Quarter 2024 Earnings Conference Call and Webcast for February 7, 2025, at 11:00 a.m. Eastern Time. CEO Marshall Loeb and CFO Brent Wood will discuss Q4 results and the 2025 earnings outlook. The company will release financial results after market close on February 6, 2025.

EastGroup is a self-administered equity real estate investment trust focused on industrial properties in major Sunbelt markets, particularly in Texas, Florida, California, Arizona and North Carolina. The company's portfolio includes approximately 63.1 million square feet of space, targeting business distribution facilities in the 20,000 to 100,000 square foot range. As a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, EastGroup emphasizes development in supply-constrained submarkets near major transportation features.