EastGroup Properties, Inc. (NYSE: EGP), an S&P MidCap 400 company, 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 goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 15,000 to 70,000 square foot range). The Company's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup's portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 45.8 million square feet.
IPO Year:
Exchange: NYSE
Website: eastgroup.net
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/10/2025 | Hold → Buy | Truist | |
| 4/7/2025 | $175.00 | Overweight → Neutral | Piper Sandler |
| 3/17/2025 | $181.00 → $185.00 | Outperform → In-line | Evercore ISI |
| 1/14/2025 | $180.00 | Buy | Deutsche Bank |
| 1/2/2025 | $174.00 → $194.00 | Hold → Buy | Jefferies |
| 12/17/2024 | Overweight → Sector Weight | KeyBanc Capital Markets | |
| 12/11/2024 | $185.00 → $200.00 | Outperform → Strong Buy | Raymond James |
| 9/16/2024 | $192.00 → $204.00 | In-line → Outperform | Evercore ISI |
| 9/5/2024 | $175.00 → $200.00 | Neutral → Outperform | Mizuho |
| 8/28/2024 | $179.00 → $214.00 | Equal Weight → Overweight | Wells Fargo |
Urban Edge Properties (NYSE:UE) today announced the appointment of Katherine M. Sandstrom to the Company's Board of Trustees, effective October 1, 2022. Ms. Sandstrom will also serve as a member of the Audit Committee and the Corporate Governance and Nominating Committee. Ms. Sandstrom brings deep experience in real estate investment including more than twenty years of service at Heitman LLC, a real estate investment management firm, where she held a variety of senior leadership positions including her role as Senior Managing Director of Public Real Estate Securities. Ms. Sandstrom oversaw the growth of assets under management to more than $5 billion invested in domestic and global funds,
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Truist upgraded EastGroup from Hold to Buy
Piper Sandler downgraded EastGroup from Overweight to Neutral and set a new price target of $175.00
Evercore ISI downgraded EastGroup from Outperform to In-line and set a new price target of $185.00 from $181.00 previously
Deutsche Bank initiated coverage of EastGroup with a rating of Buy and set a new price target of $180.00
Jefferies upgraded EastGroup from Hold to Buy and set a new price target of $194.00 from $174.00 previously
KeyBanc Capital Markets downgraded EastGroup from Overweight to Sector Weight
Raymond James upgraded EastGroup from Outperform to Strong Buy and set a new price target of $200.00 from $185.00 previously
Evercore ISI upgraded EastGroup from In-line to Outperform and set a new price target of $204.00 from $192.00 previously
Mizuho upgraded EastGroup from Neutral to Outperform and set a new price target of $200.00 from $175.00 previously
Wells Fargo upgraded EastGroup from Equal Weight to Overweight and set a new price target of $214.00 from $179.00 previously
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Quarter Highlights Net Income Attributable to Common Stockholders of $1.14 Per Diluted Share for First Quarter 2025 Compared to $1.22 Per Diluted Share for First Quarter 2024 (Gains on Sales of Real Estate Investments Were $9 Million, or $0.18 Per Diluted Share, in First Quarter 2024; There Were No Sales in First Quarter 2025)Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $2.12 Per Diluted Share for First Quarter 2025 Compared to $1.98 Per Diluted Share for First Quarter 2024, an Increase of 7.1%Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 5.3% on a Straight-Line Ba
JACKSON, Miss., April 1, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company", "we", "our", "us" or "EastGroup") announced today a coalition of industrial real estate investment trusts – EastGroup, First Industrial Realty Trust, Inc., Prologis, Inc., and STAG Industrial, Inc. (collectively, the "Industrial REIT Group") – has updated its standardized methodology for calculating key non-GAAP property metrics to improve comparability across the sector. Building on the 2018 harmonization initiative, the Industrial REIT Group reaffirmed its approach to determin
JACKSON, Miss., March 25, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its First Quarter 2025 Earnings Conference Call and Webcast on Thursday, April 24, 2025, at 11:00 a.m. Eastern Time. On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will discuss the Company's first quarter results, current operations, and earnings outlook for 2025. EastGroup plans to release financial results for the quarter after the market closes on April 23, 2025. The earnings release and supplemental information packa
JACKSON, Miss., March 7, 2025 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company" or "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.40 per share payable on April 15, 2025, to shareholders of record of Common Stock on March 31, 2025. This dividend is the 181st consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.60 per share. EastGroup has increased or maintained its dividend for 32 consecutive years. The Company has increased it 29 years over that period, including increases in each of the last 13 years.
JACKSON, Miss., Feb. 28, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company", "we", "our", "us" or "EastGroup") announced today its recent business activity. As of February 27, 2025, EastGroup's portfolio was 97.1% leased and 95.8% occupied. During the first quarter of 2025 to date, 1,438,000 square feet of new and renewal leases were signed with rental rate increases averaging 45.0% on a straight-line basis and 30.9% on a cash basis. Also, since our earnings release dated February 6, 2025, the Company executed three leases on development properties total
Fourth Quarter 2024 Highlights Net Income Attributable to Common Stockholders of $1.16 Per Diluted Share for Fourth Quarter 2024 Compared to $1.35 Per Diluted Share for Fourth Quarter 2023 (Gains on Sales of Real Estate Investments Were $13 Million, or $0.28 Per Diluted Share, in Fourth Quarter 2023; There Were No Sales in Fourth Quarter 2024)Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $2.15 Per Diluted Share for Fourth Quarter 2024 Compared to $2.03 Per Diluted Share for Fourth Quarter 2023, an Increase of 5.9%Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 3.6% on
JACKSON, Miss., Jan. 27, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today the income tax treatment of its 2024 distributions as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of EastGroup distributions. Common Stock:Ticker Symbol EGP, CUSIP #277 276 101 Record Dates Payment Dates Total Distributions Per Share (1) Ordinary Dividends Capital Gain Distributions Unrecaptured Sec. 1250 Gain (2) Nondividend Distributions (3) Section 199A Dividends
JACKSON, Miss., Jan. 7, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its Fourth Quarter Earnings Conference Call and Webcast on Friday, February 7, 2025, at 11:00 a.m. Eastern Time. On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will discuss the Company's fourth quarter results, current operations, and earnings outlook for 2025. EastGroup plans to release financial results for the quarter after the market closes on February 6, 2025. The earnings release and supplemental information package
JACKSON, Miss., Dec. 30, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company", "we", "us" or "EastGroup") announced today its recent business activity. In November, EastGroup acquired DFW Global Logistics Centre 5-8, four multi-tenant business distribution buildings totaling 492,000 square feet, for approximately $76,000,000. These buildings, which are 100% leased to 13 tenants, are located adjacent to the Company's DFW Global Logistics Centre 1-4 buildings near the Dallas-Fort Worth Airport. This acquisition increased the Company's ownership of properties
JACKSON, Miss., Dec. 2, 2024 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.40 per share payable on January 15, 2025, to shareholders of record of Common Stock on December 31, 2024. This dividend is the 180th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.60 per share. EastGroup has increased or maintained its dividend for 32 consecutive years. The Company has increased it 29 years over that period, including increases in each of the last 13 years.
Quarter Highlights Net Income Attributable to Common Stockholders of $1.14 Per Diluted Share for First Quarter 2025 Compared to $1.22 Per Diluted Share for First Quarter 2024 (Gains on Sales of Real Estate Investments Were $9 Million, or $0.18 Per Diluted Share, in First Quarter 2024; There Were No Sales in First Quarter 2025)Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $2.12 Per Diluted Share for First Quarter 2025 Compared to $1.98 Per Diluted Share for First Quarter 2024, an Increase of 7.1%Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 5.3% on a Straight-Line Ba
JACKSON, Miss., March 25, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its First Quarter 2025 Earnings Conference Call and Webcast on Thursday, April 24, 2025, at 11:00 a.m. Eastern Time. On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will discuss the Company's first quarter results, current operations, and earnings outlook for 2025. EastGroup plans to release financial results for the quarter after the market closes on April 23, 2025. The earnings release and supplemental information packa
JACKSON, Miss., March 7, 2025 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company" or "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.40 per share payable on April 15, 2025, to shareholders of record of Common Stock on March 31, 2025. This dividend is the 181st consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.60 per share. EastGroup has increased or maintained its dividend for 32 consecutive years. The Company has increased it 29 years over that period, including increases in each of the last 13 years.
Fourth Quarter 2024 Highlights Net Income Attributable to Common Stockholders of $1.16 Per Diluted Share for Fourth Quarter 2024 Compared to $1.35 Per Diluted Share for Fourth Quarter 2023 (Gains on Sales of Real Estate Investments Were $13 Million, or $0.28 Per Diluted Share, in Fourth Quarter 2023; There Were No Sales in Fourth Quarter 2024)Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $2.15 Per Diluted Share for Fourth Quarter 2024 Compared to $2.03 Per Diluted Share for Fourth Quarter 2023, an Increase of 5.9%Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 3.6% on
JACKSON, Miss., Jan. 27, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today the income tax treatment of its 2024 distributions as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of EastGroup distributions. Common Stock:Ticker Symbol EGP, CUSIP #277 276 101 Record Dates Payment Dates Total Distributions Per Share (1) Ordinary Dividends Capital Gain Distributions Unrecaptured Sec. 1250 Gain (2) Nondividend Distributions (3) Section 199A Dividends
JACKSON, Miss., Jan. 7, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its Fourth Quarter Earnings Conference Call and Webcast on Friday, February 7, 2025, at 11:00 a.m. Eastern Time. On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will discuss the Company's fourth quarter results, current operations, and earnings outlook for 2025. EastGroup plans to release financial results for the quarter after the market closes on February 6, 2025. The earnings release and supplemental information package
JACKSON, Miss., Dec. 2, 2024 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.40 per share payable on January 15, 2025, to shareholders of record of Common Stock on December 31, 2024. This dividend is the 180th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.60 per share. EastGroup has increased or maintained its dividend for 32 consecutive years. The Company has increased it 29 years over that period, including increases in each of the last 13 years.
Third Quarter 2024 Highlights Net Income Attributable to Common Stockholders of $1.13 Per Diluted Share for Third Quarter 2024 Compared to $1.07 Per Diluted Share for Third Quarter 2023Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $2.13 Per Share for Third Quarter 2024 Compared to $1.95 Per Share for Third Quarter 2023, an Increase of 9.2%Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 5.5% on a Straight-Line Basis and 5.9% on a Cash Basis for Third Quarter 2024 Compared to the Same Period in 2023Operating Portfolio was 96.9% Leased and 96.5% Occupied as of September
JACKSON, Miss., Oct. 1, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its Third Quarter Earnings Conference Call and Webcast on Thursday, October 24, 2024, at 11:00 a.m. Eastern Time. On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will discuss the Company's third quarter results, current operations, and earnings outlook for 2024. EastGroup plans to release financial results for the quarter after the market closes on October 23, 2024. The earnings release and supplemental information package
JACKSON, Miss., Aug. 23, 2024 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company", "EastGroup") announced today that its Board of Directors approved a 10.2% increase in its quarterly dividend, raising it to $1.40 per share from $1.27 per share. The dividend is payable on October 15, 2024, to shareholders of record of Common Stock on September 30, 2024. This dividend is the 179th consecutive quarterly cash distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.60 per share. EastGroup has increased or maintained its dividend for 32 consecutive years. The Company has increased it 29 years over that period, including increases in each of the last