Welcome to our dedicated page for Eastgroup Pptys news (Ticker: EGP), a resource for investors and traders seeking the latest updates and insights on Eastgroup Pptys stock.
EastGroup Properties, Inc. (NYSE: EGP) is a self-administered equity REIT focused on industrial properties in high-growth U.S. markets, with an emphasis on Texas, Florida, California, Arizona and North Carolina. This news page aggregates company announcements, earnings updates and other disclosures that reflect EastGroup’s ongoing activities as an industrial-focused real estate investment trust.
Readers can find earnings-related news, including quarterly results, funds from operations, same property net operating income trends and commentary from management on portfolio performance and market conditions. EastGroup regularly announces the timing of its earnings conference calls and webcasts, where senior management discusses operating results, current operations and earnings outlook.
The news flow also covers capital allocation and financing actions, such as new unsecured term loans, amendments to credit facilities and at-the-market equity offering programs, as disclosed in press releases and Form 8-K filings. Updates on development and acquisition activity are frequent, detailing new projects started, properties transferred to the operating portfolio, acquisitions of operating assets and purchases of development land in markets like Dallas, Orlando, San Antonio, Miami, Atlanta and Raleigh-Durham.
Investors following EGP news will also see dividend declarations and increases, which highlight the company’s long record of consecutive quarterly cash distributions, as well as leadership and governance updates such as executive promotions and planned retirements. For those tracking the industrial REIT sector, EastGroup’s news provides insight into leasing activity, rental rate trends and the company’s positioning in supply-constrained, transportation-oriented industrial submarkets. Bookmark this page to review EastGroup’s official announcements and related regulatory news in one place.
EastGroup Properties (NYSE: EGP) will hold its Second Quarter 2024 Earnings Conference Call and Webcast on July 24, 2024, at 11:00 a.m. ET. CEO Marshall Loeb and CFO Brent Wood will discuss the company's quarterly results, operations, and 2024 earnings outlook. Financial results will be released after market close on July 23, 2024, with details available on EastGroup's website.
The live call can be accessed by dialing 1-800-836-8184 or via webcast. Replays will be available until July 31, 2024, by dialing 1-888-660-6345 or through the company's website. EastGroup, an S&P Mid-Cap 400 and Russell 1000 member, specializes in industrial properties in key Sunbelt markets, with a portfolio of approximately 60 million square feet.
EastGroup Properties (NYSE: EGP) has reported significant recent business activities.
In May, they acquired a 275,000 sq ft industrial property in Raleigh for $54M, marking their entry into this growing market.
Their portfolio is 97.7% leased and 97.0% occupied as of May 30, 2024.
EastGroup signed 1,232,000 sq ft of new and renewal leases in Q2 2024 with rental increases averaging 69.6% on a straight-line basis and 49.0% on a cash basis.
They issued 420,370 shares of common stock, raising approximately $76M and entered into forward equity agreements for 135,662 shares, potentially raising $23M.
EastGroup's management will present at Nareit's REITweek on June 5, 2024.
EastGroup Properties (NYSE: EGP) announced its 178th consecutive quarterly cash dividend of $1.27 per share, payable on July 15, 2024, for shareholders of record on June 28, 2024. This reflects an annualized dividend rate of $5.08 per share. EastGroup has consistently increased or maintained its dividend for 31 years, with increases in each of the last 12 years. The company, part of the S&P Mid-Cap 400 and Russell 1000 Indexes, specializes in industrial properties in Sunbelt markets like Florida, Texas, Arizona, California, and North Carolina. EastGroup aims to maximize shareholder value through high-quality, location-sensitive business distribution spaces, owning approximately 60 million square feet in its portfolio.
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