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Eastgroup Properties (EGP)

EastGroup Properties, Inc., 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 47 million square feet.

Company profile

Ticker
EGP
Exchange
CEO
Marshall Loeb
Employees
Incorporated
Location
Fiscal year end
Former names
EASTGROUP PROPERTIES, EASTGROUP PROPERTIES II INC
SEC CIK
Subsidiaries
EastGroup Properties General Partners, Inc. • EastGroup Properties Holdings, Inc. • EastGroup TRS, Inc. • EastGroup Properties, LP • EastGroup Property Services, LLC • EastGroup Property Services of Florida, LLC • EastGroup Kearn Creek, LLC • EGP Yosemite Land, LLC • Miramar Industrial, LLC • Otay Enrico Industrial, LLC ...
IRS number
132711135

EGP stock data

Calendar

27 Jul 22
18 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 5.56M 5.56M 5.56M 5.56M 5.56M 5.56M
Cash burn (monthly) 54.33K 2.75M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 89.59K 4.54M n/a n/a n/a n/a
Cash remaining 5.47M 1.02M n/a n/a n/a n/a
Runway (months of cash) 100.6 0.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Jun 22 Eaves Hayden C Iii Common Stock Buy Acquire P Yes No 163.29 600 97.97K 600
3 Jun 22 Aloian D Pike Common Stock Grant Acquire A No No 0 696 0 30,666
3 Jun 22 Bolton H Eric JR Common Stock Grant Acquire A No No 0 696 0 13,266
3 Jun 22 Colleran Donald F Common Stock Grant Acquire A No No 0 696 0 4,913
3 Jun 22 Eaves Hayden C Iii Common Stock Grant Acquire A No No 0 696 0 696
38.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 353 352 +0.3%
Opened positions 55 29 +89.7%
Closed positions 54 46 +17.4%
Increased positions 121 128 -5.5%
Reduced positions 113 125 -9.6%
13F shares Current Prev Q Change
Total value 5.95B 7.99B -25.6%
Total shares 38.53M 38.41M +0.3%
Total puts 0 3.7K EXIT
Total calls 2.1K 5.3K -60.4%
Total put/call ratio 0.7
Largest owners Shares Value Change
Vanguard 6.1M $940.78M -1.2%
BLK Blackrock 4.98M $767.95M -21.5%
TROW T. Rowe Price 2.96M $457.52M +7.9%
STT State Street 2.24M $347.93M -7.2%
Eaton Vance Management 1.64M $253.71M +79.4%
FMR 1.34M $207.13M +88.5%
DB Deutsche Bank AG - Registered Shares 1.06M $163.7M -3.2%
JPM JPMorgan Chase & Co. 1.02M $157.79M -3.7%
Zimmer Partners 850K $131.18M +70.0%
Brown Advisory 830.73K $128.68M -17.5%
Largest transactions Shares Bought/sold Change
BLK Blackrock 4.98M -1.36M -21.5%
Eaton Vance Management 1.64M +727.56K +79.4%
FMR 1.34M +630.21K +88.5%
Zimmer Partners 850K +350K +70.0%
Millennium Management 454.42K +325.86K +253.5%
Centersquare Investment Management 297.35K +269.95K +985.2%
LGEN Legal & General 0 -257.04K EXIT
TROW T. Rowe Price 2.96M +217.18K +7.9%
NTRS Northern Trust 409.05K -212.24K -34.2%
Brown Advisory 830.73K -176.43K -17.5%

Financial report summary

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Management Discussion
  • •PNOI increased by $14,499,000 ($0.34 per diluted share), or 20.2%, for the three months ended June 30, 2022, as compared to the same period in 2021. PNOI increased $6,229,000 from newly developed and value-add properties, $6,150,000 from same property operations and $3,106,000 from 2021 and 2022 acquisitions; PNOI decreased $811,000 from operating properties sold in 2021 and 2022. Lease termination fee income was $979,000 and $18,000 for the three month periods ended June 30, 2022 and 2021, respectively. The Company recorded net reserves for uncollectible rent of $36,000 and net recoveries of uncollectible rent of $12,000 for the three months ended June 30, 2022 and 2021, respectively. Straight-lining of rent increased PNOI by $1,450,000 and $2,102,000 for the three months ended June 30, 2022 and 2021, respectively.

Content analysis

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Positive
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Legalese
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Readability
H.S. sophomore Bad
New words: bearing, CA, owner, parcel, Sacramento, Size, South, sum, Tulloch, undeveloped
Removed: deferred, long