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

NYSE

Website

www.eastgroup.net

CEO

Marshall Loeb

Incorporated

Maryland

Location

Mississippi

Fiscal year end

Dec 31

Sector

Finance and Insurance > Other Financial Vehicles

Industry (SIC)

Real Estate Investment Trusts

Annaly Capital Management • AGNC Investment • Simon Property • VEREIT • Prologis • Vornado Realty Trust • Vornado Realty • Welltower • Healthpeak Properties • Erp Operating LTD Partnership ...

Former names

EASTGROUP PROPERTIES, EASTGROUP PROPERTIES II INC

SEC CIK

0000049600

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

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

1M 1Y 5Y

News

From Benzinga Pro

Wells Fargo Maintains Equal-Weight on EastGroup Props, Raises Price Target to $178

11 Aug 22

Wells Fargo analyst Blaine Heck maintains EastGroup Props (NYSE:EGP) with a Equal-Weight and raises the price target from $170 to $178.

7 Analysts Have This to Say About EastGroup Props

1 Aug 22

EastGroup Props (NYSE:EGP) has observed the following analyst ratings within the last quarter:

Morgan Stanley Maintains Equal-Weight on EastGroup Props, Lowers Price Target to $195

1 Aug 22

Morgan Stanley analyst Vikram Malhotra maintains EastGroup Props (NYSE:EGP) with a Equal-Weight and lowers the price target from $215 to $195.

EastGroup Properties Q2 FFO $1.72 Up From $1.47 YoY

26 Jul 22

Earnings Scheduled For July 26, 2022

26 Jul 22

Press releases

From Benzinga Pro

EastGroup Properties Announces Second Quarter 2022 Results

26 Jul 22

Second Quarter 2022 Results Net Income Attributable to Common Stockholders of $1.09 Per Diluted Share for Second Quarter 2022 Compared to $0.69 Per Diluted Share for Second Quarter 2021 (Gains on Sales of Real Estate

EastGroup Properties Announces Second Quarter 2022 Earnings Conference Call and Webcast

30 Jun 22

JACKSON, Miss., June 30, 2022 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) (the "Company", "EastGroup") announced today that it will hold its Second Quarter Earnings Conference Call and Webcast on

EastGroup Properties Announces Presentation at the Nareit REITweek: 2022 Investor Conference

3 Jun 22

JACKSON, Miss., June 3, 2022 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE:EGP) ("EastGroup" or the "Company") announced today that it is scheduled to present at the Nareit REITweek: 2022 Investor

EastGroup Properties Announces Recent Acquisition and Disposition Activity

2 Jun 22

EastGroup Properties Announces 170th Consecutive Quarterly Cash Dividend

26 May 22

Analyst ratings and price targets

Last 3 months

Average target

$180.40

Low target

$144.00

High target

$210.00

Calendar

27 Jul 22

18 Aug 22

31 Dec 22

Financial summary

Financial statements Chart EGP financial data

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

Financial data from company earnings reports.

Recent insider trades

EGP insider ownership history Insider history

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

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q2 2022

EGP institutional ownership history Ownership history

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%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

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.