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 |
|---|---|---|---|
| 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 |
| 7/22/2024 | $162.00 → $208.00 | Neutral → Outperform | Wedbush |
| 6/4/2024 | $167.00 | Neutral | Exane BNP Paribas |
| 4/22/2024 | $190.00 | Outperform | BMO Capital Markets |
| 4/11/2024 | $190.00 | Neutral | JP Morgan |
| 3/27/2024 | $181.00 | Equal Weight | Barclays |
| 12/5/2023 | $185.00 | Buy → Neutral | Mizuho |
| 10/27/2023 | $180.00 | Mkt Perform → Outperform | Raymond James |
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
Second Quarter 2024 Highlights Net Income Attributable to Common Stockholders of $1.14 Per Diluted Share for Second Quarter 2024 Compared to $0.97 Per Diluted Share for Second Quarter 2023 Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $2.05 Per Share for Second Quarter 2024 Compared to $1.89 Per Share for Second Quarter 2023, an Increase of 8.5% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 5.3% Both on a Straight-Line Basis and on a Cash Basis for Second Quarter 2024 Compared to the Same Period in 2023 Operating Portfolio was 97.4% Leased and 97.1% Occupied as
JACKSON, Miss., July 1, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its Second Quarter Earnings Conference Call and Webcast on Wednesday, July 24, 2024, at 11:00 a.m. Eastern Time. On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will discuss the Company's second quarter results, current operations, and earnings outlook for 2024. EastGroup plans to release financial results for the quarter after the market closes on July 23, 2024. The earnings release and supplemental information package wil
JACKSON, Miss., May 23, 2024 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.27 per share payable on July 15, 2024, to shareholders of record of Common Stock on June 28, 2024. This dividend is the 178th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.08 per share. EastGroup has increased or maintained its dividend for 31 consecutive years. The Company has increased it 28 years over that period, including increases in each of the last 12 years.
First Quarter 2024 Highlights Net Income Attributable to Common Stockholders of $1.22 Per Diluted Share for First Quarter 2024 Compared to $1.02 Per Diluted Share for First Quarter 2023Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $1.98 Per Share for First Quarter 2024 Compared to $1.82 Per Share for First Quarter 2023, an Increase of 8.8%Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 4.9% on a Straight-Line Basis and 7.7% on a Cash Basis for First Quarter 2024 Compared to the Same Period in 2023Operating Portfolio was 98.0% Leased and 97.7% Occupied as of March 31,
JACKSON, Miss., April 4, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its First Quarter Earnings Conference Call and Webcast on Wednesday, April 24, 2024, 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 2024. EastGroup plans to release financial results for the quarter after the market closes on April 23, 2024. The earnings release and supplemental information package wi
JACKSON, Miss., March 8, 2024 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.27 per share payable on April 15, 2024, to shareholders of record of Common Stock on March 28, 2024. This dividend is the 177th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.08 per share. EastGroup has increased or maintained its dividend for 31 consecutive years. The Company has increased it 28 years over that period, including increases in each of the last 12 years.
JACKSON, Miss., Jan. 25, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today the income tax treatment of its 2023 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 UnrecapturedSec. 1250Gain (2) Nondividend Distributions (3) Section 199ADividends (4) 1
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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., Sept. 5, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company", "we", "us" or "EastGroup") announced today its recent business activity. Commenting on the Company's activity, Marshall Loeb, CEO, stated, "We continue to be pleased by the resiliency of the Sunbelt, shallow bay industrial market. Our year to date results remain in line to slightly ahead of our forecast. Looking ahead, we are excited to see the market opportunities that will be created given the rapid decline in the industrial construction pipeline along with slowly improving te
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
Second Quarter 2024 Highlights Net Income Attributable to Common Stockholders of $1.14 Per Diluted Share for Second Quarter 2024 Compared to $0.97 Per Diluted Share for Second Quarter 2023 Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $2.05 Per Share for Second Quarter 2024 Compared to $1.89 Per Share for Second Quarter 2023, an Increase of 8.5% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 5.3% Both on a Straight-Line Basis and on a Cash Basis for Second Quarter 2024 Compared to the Same Period in 2023 Operating Portfolio was 97.4% Leased and 97.1% Occupied as
JACKSON, Miss., July 1, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its Second Quarter Earnings Conference Call and Webcast on Wednesday, July 24, 2024, at 11:00 a.m. Eastern Time. On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will discuss the Company's second quarter results, current operations, and earnings outlook for 2024. EastGroup plans to release financial results for the quarter after the market closes on July 23, 2024. The earnings release and supplemental information package wil
JACKSON, Miss., May 30, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company", "we", "us" or "EastGroup") announced today its recent business activity. Commenting on the Company's activity, Marshall Loeb, CEO, stated, "We continue to be pleased by the resiliency of the Sunbelt, shallow bay industrial market. The trends we saw during the first quarter are carrying over to date. Meanwhile, given the volatility and uncertainty in the capital markets, we continue to opportunistically improve the strength and flexibility of our balance sheet, which allows us to
JACKSON, Miss., May 23, 2024 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.27 per share payable on July 15, 2024, to shareholders of record of Common Stock on June 28, 2024. This dividend is the 178th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.08 per share. EastGroup has increased or maintained its dividend for 31 consecutive years. The Company has increased it 28 years over that period, including increases in each of the last 12 years.
First Quarter 2024 Highlights Net Income Attributable to Common Stockholders of $1.22 Per Diluted Share for First Quarter 2024 Compared to $1.02 Per Diluted Share for First Quarter 2023Funds from Operations ("FFO") Excluding Gain on Involuntary Conversion and Business Interruption Claims of $1.98 Per Share for First Quarter 2024 Compared to $1.82 Per Share for First Quarter 2023, an Increase of 8.8%Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 4.9% on a Straight-Line Basis and 7.7% on a Cash Basis for First Quarter 2024 Compared to the Same Period in 2023Operating Portfolio was 98.0% Leased and 97.7% Occupied as of March 31,
JACKSON, Miss., April 4, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) (the "Company" or "EastGroup") announced today that it will hold its First Quarter Earnings Conference Call and Webcast on Wednesday, April 24, 2024, 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 2024. EastGroup plans to release financial results for the quarter after the market closes on April 23, 2024. The earnings release and supplemental information package wi
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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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
Wedbush upgraded EastGroup from Neutral to Outperform and set a new price target of $208.00 from $162.00 previously
Exane BNP Paribas initiated coverage of EastGroup with a rating of Neutral and set a new price target of $167.00
BMO Capital Markets initiated coverage of EastGroup with a rating of Outperform and set a new price target of $190.00
JP Morgan initiated coverage of EastGroup with a rating of Neutral and set a new price target of $190.00
Barclays initiated coverage of EastGroup with a rating of Equal Weight and set a new price target of $181.00
Mizuho downgraded EastGroup from Buy to Neutral and set a new price target of $185.00
Raymond James upgraded EastGroup from Mkt Perform to Outperform and set a new price target of $180.00
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Wedbush analyst Richard Anderson upgrades EastGroup Props (NYSE:EGP) from Neutral to Outperform and raises the price target from $162 to $208.
Providing a diverse range of perspectives from bullish to bearish, 12 analysts have published ratings on EastGroup Props (NYSE:EGP) in the last three months. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 4 8 0 0 Last 30D 0 0 1 0 0 1M Ago 0 1 2 0 0 2M Ago 0 3 4 0 0 3M Ago 0 0 1 0 0 Analysts have recently evaluated EastGroup Props and provided 12-month price targets. The average target is $181.83, accompanied by a high estimate of $200.00 and a low estimate of $172.00. This curre
Mizuho analyst Vikram Malhotra maintains EastGroup Props (NYSE:EGP) with a Neutral and lowers the price target from $185 to $175.
RBC Capital analyst Michael Carroll maintains EastGroup Props (NYSE:EGP) with a Sector Perform and lowers the price target from $190 to $172.
JP Morgan analyst Michael Mueller maintains EastGroup Props (NYSE:EGP) with a Neutral and lowers the price target from $190 to $183.
Baird analyst David Rodgers maintains EastGroup Props (NYSE:EGP) with a Outperform and lowers the price target from $195 to $175.
Keybanc analyst Todd Thomas maintains EastGroup Props (NYSE:EGP) with a Overweight and lowers the price target from $198 to $178.
Barclays analyst Brendan Lynch maintains EastGroup Props (NYSE:EGP) with a Equal-Weight and lowers the price target from $181 to $175.
Piper Sandler analyst Alexander Goldfarb maintains EastGroup Props (NYSE:EGP) with a Overweight and lowers the price target from $215 to $200.