Welcome to our dedicated news page for EastGroup Properties (Ticker: EGP), a resource for investors and traders seeking the latest updates and insights on EastGroup Properties.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect EastGroup Properties's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of EastGroup Properties's position in the market.
Rhea-AI Summary
EastGroup Properties, Inc. (NYSE: EGP) reported strong first-quarter 2024 results with a net income of $1.22 per diluted share, an increase from $1.02 in the same period last year. Funds from Operations (FFO) saw a rise to $1.98 per share, excluding gains, marking an 8.8% increase from the previous year. Same Property Net Operating Income grew by 4.9% on a straight-line basis and 7.7% on a cash basis. Rental rates on new and renewal leases increased by 57.8% on a straight-line basis. The company acquired new properties, started development projects, and sold assets in strategic moves to strengthen its portfolio. EastGroup's CEO remains optimistic about future trends benefiting the company's market portfolio.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.68%
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Rhea-AI Summary
EastGroup Properties, Inc. (NYSE: EGP) will host its First Quarter Earnings Conference Call and Webcast on April 24, 2024, discussing financial results, operations, and 2024 earnings outlook. The Company aims to maximize shareholder value through industrial property development and acquisition in Sunbelt markets, focusing on functional distribution space.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.37%
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Rhea-AI Summary
EastGroup Properties (EGP) declares a quarterly cash dividend of $1.27 per share, marking the 177th consecutive distribution to shareholders. The annualized dividend rate is $5.08 per share, with a history of 31 years of dividend increases or maintenance. EastGroup focuses on industrial properties in Sunbelt markets, aiming to provide quality business distribution space.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.39%
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Rhea-AI Summary
EastGroup Properties, Inc. (NYSE: EGP) reports strong occupancy and leasing trends in 2024. The portfolio is 97.9% leased and 97.6% occupied. Rental rates have increased significantly, with forward equity sale agreements in place for additional proceeds.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.88%
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Rhea-AI Summary
EastGroup Properties, Inc. (EGP) reported strong fourth quarter and full-year 2023 results with an increase in net income, funds from operations, and same property net operating income. The company also made acquisitions, started construction projects, and completed dispositions. The CEO remains bullish on the company's future, despite global economic uncertainties.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.13%
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Rhea-AI Summary
EastGroup Properties, Inc. (NYSE: EGP) has announced the income tax treatment of its 2023 distributions, totaling $5.02083 per share, with no foreign taxes incurred. Shareholders are encouraged to consult with their tax advisors for specific tax treatment. The company is a self-administered equity real estate investment trust focused on industrial properties in major Sunbelt markets throughout the United States.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.23%
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Rhea-AI Summary
EastGroup Properties, Inc. (NYSE: EGP) has announced its Fourth Quarter Earnings Conference Call and Webcast on February 8, 2024, featuring discussions by CEO Marshall Loeb and CFO Brent Wood on the company's fourth quarter results, current operations, and earnings outlook for 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.65%
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Rhea-AI Summary
EastGroup Properties (NYSE: EGP) declared a quarterly cash dividend of $1.27 per share, marking the 176th consecutive distribution to shareholders. The annualized dividend rate is $5.08 per share, with 31 consecutive years of increased or maintained dividends. The company focuses on industrial properties in major Sunbelt markets, with a portfolio of approximately 59.1 million square feet.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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Rhea-AI Summary
EastGroup Properties, Inc. (NYSE: EGP) announced its recent business activity, including the acquisition of Park at Myatt in Nashville, Tennessee. The company's portfolio remains highly leased and occupied, with rental rates showing significant increases. EastGroup also sold shares of common stock, generating substantial gross proceeds. The company's management is scheduled to participate in Nareit's REITworld: 2023 Annual Conference in Los Angeles.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.75%
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Rhea-AI Summary
EastGroup Properties reports Q3 2023 results with net income of $1.07 per diluted share, FFO of $2.00 per share, and 6.0% increase in same property net operating income. The company acquired a property for $53 million and started construction on three development projects.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.65%
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EastGroup Properties Inc.
NYSE:EGP
EGP Rankings
EGP Stock Data
7.60B
47.09M
1.47%
93.53%
1.81%
Other Financial Vehicles
Finance and Insurance
United States of America
RIDGELAND
About EGP
eastgroup properties, inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major sunbelt markets throughout the united states with an emphasis in the states of florida, texas, arizona, california and north carolina. the company’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets.