EastGroup Properties Announces Leadership Promotions
Rhea-AI Summary
EastGroup Properties (NYSE: EGP) announced leadership promotions effective January 1, 2026 to support long‑term growth. Reid Dunbar becomes President; Staci Tyler becomes Chief Financial Officer; Brent Wood moves from CFO to Chief Operating Officer; Michelle Rayner becomes Chief Accounting Officer. Brent Wood will oversee leasing, asset, and property management across the company's portfolio of approximately 65 million square feet. John Coleman will retire on June 30, 2026; Todd Johnson will succeed him as Executive Vice President of the Eastern Region.
The changes emphasize internal succession, operational alignment, and continued focus on capital allocation, financial discipline, and growth in key U.S. markets.
Positive
- Internal succession promoting continuity effective Jan 1, 2026
- New COO role oversees ~65 million square feet portfolio
- CFO role filled by 18‑year company veteran Staci Tyler
- Eastern Region successor named: Todd Johnson upon June 30, 2026
Negative
- Loss of 25‑year veteran Executive VP John Coleman on June 30, 2026
Key Figures
Market Reality Check
Peers on Argus
EGP is up 0.53% while key peers like FR (-0.48%), STAG (-1.03%), and TRNO (-1.05%) are down, suggesting the leadership news impact was more company-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 12 | Dividend declaration | Positive | -0.9% | Announced 184th consecutive quarterly dividend with stable, long-term growth record. |
| Dec 08 | Operations update | Positive | -0.6% | Reported high leasing/occupancy, strong rent spreads, development and financing activity. |
| Dec 04 | Peer activist note | Neutral | +0.7% | Activist highlighted upside and strategic options at peer First Industrial (FR). |
| Oct 23 | Earnings report | Positive | -1.3% | Q3 2025 earnings beat prior year with strong FFO and portfolio metrics. |
| Sep 24 | Earnings call notice | Neutral | +0.3% | Scheduled Q3 2025 earnings call and reiterated industrial REIT portfolio focus. |
Recent positive operational and dividend updates often saw modest negative next-day moves, indicating a tendency for the stock to underreact or fade good news in the short term.
Over the last few months, EastGroup reported strong Q3 2025 results with higher EPS and FFO, solid leasing metrics, and continued development and acquisition activity. It maintained its long dividend track record, declaring the 184th consecutive quarterly dividend. Business updates highlighted high occupancy and sizable term loan financing. Against this backdrop of operational consistency and active capital markets activity, today’s leadership promotions reflect internal succession within an already established growth strategy.
Regulatory & Risk Context
An effective automatic shelf registration on Dec 5, 2025 (Form S-3ASR) allows EastGroup to issue common stock, preferred stock, depositary shares, and warrants, and to support resales by selling securityholders, providing flexibility to raise capital for debt repayment and property development or acquisitions.
Market Pulse Summary
This announcement details internal promotions that maintain continuity across EastGroup’s development, finance, and operational functions, with executives sharing nearly 70 years of combined company tenure. The new roles cover capital allocation, financial strategy, and oversight of roughly 65 million square feet of industrial space. In context of recent strong earnings, active capital markets activity, and an effective shelf registration, investors may watch future disclosures for how this team executes on growth and capital deployment.
Key Terms
real estate investment trust financial
Securities and Exchange Commission regulatory
AI-generated analysis. Not financial advice.
Effective January 1, 2026:
- Reid Dunbar, Head of EastGroup's Central Region, will become President of the Company,
- Staci Tyler, Chief Administrative Officer and Chief Accounting Officer, will become Chief Financial Officer,
- Brent Wood, Chief Financial Officer, will assume the newly created position of Chief Operating Officer, and
- Michelle Rayner, Controller, will assume the role of Chief Accounting Officer.
"On behalf of the Board, I am delighted to announce these important changes to our management team," said Marshall Loeb, Chief Executive Officer. "With a combined EastGroup tenure of nearly 70 years, Reid, Staci, Brent and Michelle represent the exceptional talent we have at EastGroup, and their promotions reflect our confidence in their ability to grow and drive shareholder value. We've experienced meaningful growth and believe we are well positioned to continue executing our strategy and capitalizing on the strength of our portfolio."
Mr. Loeb continued, "Reid, Staci, Brent, and Michelle each possess deep institutional knowledge and are proven leaders. Their new roles are a natural evolution that enhances operational alignment across our development, acquisition, financial, and regional functions and ensures we're well positioned to execute on the opportunities ahead and continue delivering long-term value."
As President, Mr. Dunbar will work directly with Mr. Loeb and the entire team to oversee capital allocation decisions and play a larger role in corporate strategy and investor relations. Since joining EastGroup in 2017, Mr. Dunbar has led the Central Region, driving consistent portfolio growth and strengthening EastGroup's development pipeline in some of our fastest-growing markets.
As Chief Financial Officer, Ms. Tyler will lead all aspects of EastGroup's financial strategy, including capital markets, accounting, financial planning, risk management, and investor relations. As an 18-year veteran of the Company, Ms. Tyler has been instrumental in maintaining the Company's financial discipline and transparent reporting culture, leading our corporate responsibility functions and developing our investor relations platform.
As Chief Operating Officer, Mr. Wood will take on a new role of overseeing leasing and asset and property management for the Company's entire portfolio of approximately 65 million square feet. During his nearly 30-year tenure with EastGroup, Mr. Wood has played a central role in shaping the Company's operational and financial foundation, having served as a regional leader and later as our Chief Financial Officer since 2017.
As Chief Accounting Officer, Ms. Rayner will be responsible for the Company's accounting function, including financial reporting and Securities and Exchange Commission filings. She joined the Company in 2011 as Assistant Controller, and in 2020, she became Vice President and Controller of the Company. Prior to joining EastGroup, Ms. Rayner served as a Senior Audit Associate with KPMG LLP. Ms. Rayner brings to this position her deep experience in accounting, financial reporting, and forecasting.
Following a successful 25-year tenure with EastGroup, John Coleman, Executive Vice President of EastGroup's Eastern Region, will retire on June 30, 2026. Upon Mr. Coleman's retirement, Todd Johnson, Senior Vice President of
"We thank John for his innumerable contributions and his outstanding leadership over the past 25 years. John was pivotal in helping EastGroup develop one of the strongest industrial portfolios in the
About EastGroup Properties, Inc.
EastGroup, a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in high-growth markets throughout
EastGroup Properties, Inc. press releases are available at www.eastgroup.net.
Forward-Looking Information
The statements and certain other information contained in this press release, which can be identified by the use of forward-looking terminology such as "may," "will," "seek," "expects," "anticipates," "believes," "targets," "intends," "should," "estimates," "could," "continue," "assume," "projects," "goals," "plans" or variations of such words and similar expressions or the negative of such words, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These forward-looking statements reflect the Company's current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the Company and on assumptions it has made. Although the Company believes that its plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that such plans, intentions, expectations or strategies will be attained or achieved. Furthermore, these forward-looking statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties could cause actual results to differ materially from those projected. These uncertainties include, but are not limited to: international, national, regional and local economic conditions and conflicts; the competitive environment in which the Company operates; fluctuations of occupancy or rental rates; potential defaults (including bankruptcies or insolvency) on or non-renewal of leases by tenants, or our ability to lease space at current or anticipated rents, particularly in light of the ongoing uncertainty around interest rates, tariffs and general economic conditions; disruption in supply and delivery chains; increased construction and development costs, including as a result of tariffs or the recent inflationary environment; acquisition and development risks, including failure of such acquisitions and development projects to perform in accordance with our projections or to materialize at all; potential changes in the law or governmental regulations and interpretations of those laws and regulations, including changes in real estate laws, real estate investment trust ("REIT") or corporate income tax laws, potential changes in zoning laws, or increases in real property tax rates, and any related increased cost of compliance; our ability to maintain our qualification as a REIT; natural disasters such as fires, floods, tornadoes, hurricanes, earthquakes, or other extreme weather events, which may or may not be directly caused by longer-term shifts in climate patterns, could destroy buildings and damage regional economies; the availability of financing and capital, increases in or long-term elevated interest rates, and our ability to raise equity capital on attractive terms; financing risks, including the risks that our cash flows from operations may be insufficient to meet required payments of principal and interest, and we may be unable to refinance our existing debt upon maturity or obtain new financing on attractive terms or at all; our ability to retain our credit agency ratings; our ability to comply with applicable financial covenants; credit risk in the event of non-performance by the counterparties to our interest rate swaps; how and when pending forward equity sales may settle; lack of or insufficient amounts of insurance; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; our ability to attract and retain key personnel or lack of adequate succession planning; risks related to the failure, inadequacy or interruption of our data security systems and processes, including security breaches through cyber attacks; pandemics, epidemics or other public health emergencies, such as the coronavirus pandemic; potentially catastrophic events such as acts of war, civil unrest and terrorism; and environmental liabilities, including costs, fines or penalties that may be incurred due to necessary remediation of contamination of properties presently owned or previously owned by us. All forward-looking statements should be read in light of the risks identified in Part I, Item 1A. Risk Factors within the Company's most recent Annual Report on Form 10-K, as such factors may be updated from time to time in the Company's periodic filings and current reports filed with the SEC. The Company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: investor@eastgroup.net
View original content to download multimedia:https://www.prnewswire.com/news-releases/eastgroup-properties-announces-leadership-promotions-302643889.html
SOURCE EastGroup Properties
FAQ
What leadership changes did EastGroup (EGP) announce effective January 1, 2026?
Who will oversee EastGroup's leasing and property management for ~65 million square feet?
When is John Coleman retiring from EastGroup and who succeeds him for the Eastern Region?
What experience does new CFO Staci Tyler bring to EastGroup (EGP)?
How do these promotions affect EastGroup's corporate strategy and investor relations?
