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EGP EastGroup Properties, Inc.

EastGroup Properties, Inc. is an equity real estate investment trust, which engages in the development, acquisition and operation of industrial properties in the United States. It operates through Industrial Properties segment. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina. The company was founded in 1969 and is headquartered in Ridgeland, MS.

Company profile

Ticker
EGP
Exchange
NYSE
Website
www.eastgroup.net
CEO
Marshall A. Loeb
Employees
Incorporated in
Maryland
Location
Mississippi
Fiscal year end
Dec 31
Sector
Finance > Real Estate Investment Trusts
Industry (SEC)
Real Estate Investment Trusts
Annaly Capital Management • Vereit • Boston Properties LTD Partnership • Simon Property • Equity Residential • AGNC Investment • Boston Properties • Healthpeak Properties • Host Hotels & Resorts • Essex Portfolio ...
Former names
Eastgroup Properties, Eastgroup Properties Ii Inc
SEC CIK
0000049600
Corporate docs
IRS number
132711135

EGP stock data

(
)

Calendar

4 May 20
7 Jul 20
31 Dec 20

News

Company financial data Financial data

Chart EGP financial data
Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 88.63M 86.55M 83.94M 82.1M
Net income 23.3M 51.28M 22.58M 26.95M
Diluted EPS 0.6 1.28 0.6 0.73
Net profit margin 26.29% 59.25% 26.89% 32.82%
Net change in cash 447K 94K -196K -1.51M
Cash on hand 671K 224K 130K 326K
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 331.39M 300.39M 274.15M 253.05M
Net income 123.34M 88.64M 83.59M 96.09M
Diluted EPS 3.24 2.49 2.44 2.93
Net profit margin 37.22% 29.51% 30.49% 37.97%
Operating income 108.56M 95.2M 87.37M
Net change in cash -150K 358K -506K 474K
Cash on hand 224K 374K 16K 522K

Financial data from company earnings reports

Recent insider trades

EGP insider ownership history Insider history
Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
29 May 20 Leland R Speed Common Stock Grant Aquire A No 0 932 0 176,880
29 May 20 Eaves Hayden C Iii Common Stock Grant Aquire A No 0 932 0 10,672
29 May 20 Aloian D Pike Common Stock Grant Aquire A No 0 932 0 29,332
29 May 20 Hoster David H Ii Common Stock Grant Aquire A No 0 932 0 168,578
29 May 20 Bolton H Eric JR Common Stock Grant Aquire A No 0 932 0 11,932
Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

EGP institutional ownership history Ownership history
92.3% owned by funds/institutions
13F holders
 Current Prev Q Change
Total holders 273 293 -6.8%
Opened positions 32 39 -17.9%
Closed positions 52 38 +36.8%
Increased positions 105 108 -2.8%
Reduced positions 92 93 -1.1%
13F shares
 Current Prev Q Change
Total value 36.24B 53.66B -32.5%
Total shares 36.05M 36.02M +0.1%
Total puts 7.3K 0 NEW
Total calls 14.7K 0 NEW
Total put/call ratio 0.5 – –
Largest owners
 Shares Value Change
Vanguard 6M $627.33M +0.2%
BLK BlackRock 5.81M $607.31M -2.5%
N Price T Rowe Associates 2.64M $275.78M -1.1%
JPM JPMorgan Chase & Co. 2.37M $247.12M -0.5%
STT State Street 2.21M $232.77M +3.7%
IVZ Invesco 1.35M $140.93M +2.5%
Charles Schwab Investment Management 846.03K $88.39M +16.8%
DB Deutsche Bank 801.11K $83.7M +4.3%
NTRS Northern Trust 798.8K $83.46M +2.6%
Geode Capital Management 762.67K $79.68M +8.9%
Largest transactions
 Shares Bought/sold Change
Brown Advisory 650.96K +650.96K NEW
Norges Bank 0 -445.73K EXIT
Ajo 347.15K +258.48K +291.5%
Nuveen Asset Management 600.88K -186.69K -23.7%
Balyasny Asset Management 44.59K -168.24K -79.0%
BLK BlackRock 5.81M -146.55K -2.5%
SF Stifel Financial 23.13K -130.66K -85.0%
SAMG Silvercrest Asset Management 664.21K -130.26K -16.4%
Charles Schwab Investment Management 846.03K +121.62K +16.8%
FDx Advisors 112.75K +112.75K NEW
Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

?
Risks
  • Pandemics, such as COVID-19, and mitigation efforts to control the spread of such disease have impacted and are expected to continue to impact our business, and our financial condition, results of operations and cash flows could be adversely affected by factors relating to such pandemics.
Management Discussion
  • EastGroup signed 38 leases with free rent concessions on 1,149,000 square feet during the three months ended March 31, 2020, with total free rent concessions of $1,580,000 over the lives of the leases. During the same period of 2019, the Company signed 40 leases with free rent concessions on 1,288,000 square feet with total free rent concessions of $1,630,000 over the lives of the leases.
  • The Company’s percentage of leased square footage was 97.3% at March 31, 2020, compared to 97.7% at March 31, 2019.  Occupancy at March 31, 2020 was 96.7% compared to 96.9% at March 31, 2019.
  • Same property average occupancy represents the average month-end percentage of leased square footage for which the lease term has commenced as compared to the total leasable square footage for the same operating properties owned during the entire current and prior year reporting periods (January 1, 2019 through March 31, 2020). Same property average occupancy for the three months ended March 31, 2020, was 97.0% compared to 96.8% for the same period of 2019.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: accessing, adhering, age, assistance, characterized, combat, communication, curtail, Dan, deferral, delay, deterioration, directly, disease, disruption, distancing, drawn, eligible, enabling, ensure, evolving, experienced, experiencing, extraordinary, Facilitation, factor, favorable, fluid, fluidity, foreseeable, formal, Global, great, grid, handled, harm, health, heightening, human, importance, indirectly, infection, inhibit, instability, job, led, lifting, long, magnitude, Miramar, mitigation, notification, outbreak, outdoor, pacel, page, pandemic, past, physical, prevent, preventing, protect, rapid, reform, regulatory, relief, remote, reputational, requested, rest, retire, retirement, revolving, safety, scope, situation, slightly, slowdown, social, speculative, speed, spread, stand, storage, strength, striving, strong, support, surge, sustained, team, Tuscon, ultimate, unemployment, Unprecedented, waive, weighed, widespread, workforce
Removed: absent, Allen, Antonio, applied, applying, Atlanta, Avenue, bad, Baird, benchmark, Chino, conform, Department, description, direct, disclosed, exemption, expanding, expedient, factual, Fed, footnote, generating, Greenhill, Gwinnett, implementation, Inclusion, Incorporated, Indirect, legal, lessee, lessor, London, Los, matured, mentioned, met, Municipal, narrow, noted, obligation, office, opening, original, partner, penalty, permitting, placement, private, recognize, reduction, refer, registered, registration, relate, removed, retained, retrospective, reverted, Robert, SIFMA, source, standard, Station, submarket, Targeted, unchanged
From filing 10-Q 2020 Q1

Financial reports

View all
10-Q
2020 Q1
Quarterly report
4 May 20
10-K
2019 FY
Annual report
13 Feb 20
10-Q
2019 Q3
Quarterly report
25 Oct 19
10-Q
2019 Q2
Quarterly report
26 Jul 19
10-Q
2019 Q1
Quarterly report
24 Apr 19
10-K
2018 Q4
Annual report
14 Feb 19
10-Q
2018 Q3
Quarterly report
22 Oct 18
10-Q
2018 Q2
Quarterly report
23 Jul 18
10-Q
2018 Q1
Quarterly report
23 Apr 18
10-K
2017 FY
Annual report
14 Feb 18

Current reports

View all
8-K
Submission of Matters to a Vote of Security Holders
27 May 20
8-K
First Quarter 2020 Results
30 Apr 20
8-K
Fourth Quarter 2019 Results
6 Feb 20
8-K
Other Events
20 Dec 19
8-K
Departure of Directors or Certain Officers
9 Dec 19
8-K
Third Quarter 2019 Results
23 Oct 19
8-K
Second Quarter 2019 Results
24 Jul 19
8-K
Submission of Matters to a Vote of Security Holders
24 May 19
8-K
First Quarter 2019 Results
22 Apr 19
8-K
Fourth Quarter 2018 Results
6 Feb 19

Registration and prospectus

View all
424B5
Prospectus supplement for primary offering
20 Dec 19
S-3ASR
Automatic shelf registration
20 Dec 19
424B5
Prospectus supplement for primary offering
15 Feb 18
424B5
Prospectus supplement for primary offering
6 Mar 17
S-3ASR
Automatic shelf registration
6 Mar 17
424B5
Prospectus supplement for primary offering
19 Feb 14
S-3ASR
Automatic shelf registration
14 Feb 14
S-8 POS
Registration of securities for employees (post-effective amendment)
11 Feb 14
S-8 POS
Registration of securities for employees (post-effective amendment)
11 Feb 14
S-8 POS
Registration of securities for employees (post-effective amendment)
11 Feb 14

Proxies

View all
DEFA14A
Additional proxy soliciting materials
6 May 20
DEFA14A
Additional proxy soliciting materials
9 Apr 20
DEF 14A
Definitive proxy
9 Apr 20
DEFA14A
Additional proxy soliciting materials
12 Apr 19
DEF 14A
Definitive proxy
12 Apr 19
DEF 14A
Definitive proxy
13 Apr 18
DEFA14A
Additional proxy soliciting materials
13 Apr 18
DEF 14A
Definitive proxy
31 Mar 17
DEFA14A
Additional proxy soliciting materials
31 Mar 17
DEFA14A
Additional proxy soliciting materials
19 May 16

Other

View all
UPLOAD
Letter from SEC
7 Jul 15
CORRESP
Correspondence with SEC
6 Jul 15
UPLOAD
Letter from SEC
1 Jul 15
UPLOAD
Letter from SEC
27 Apr 12
CORRESP
Correspondence with SEC
26 Apr 12
UPLOAD
Letter from SEC
16 Apr 12
UPLOAD
Letter from SEC
22 Jul 10
CORRESP
Correspondence with SEC
2 Jul 10
UPLOAD
Letter from SEC
23 Jun 10
CERTNYS
Certification of approval for NYSE listing
1 Jul 03

Ownership

View all
3
EASTGROUP PROPERTIES / Staci H. Tyler ownership change
5 Jun 20
4
EASTGROUP PROPERTIES / H C BAILEY JR ownership change
1 Jun 20
4
EASTGROUP PROPERTIES / Mary E McCormick ownership change
29 May 20
4
EASTGROUP PROPERTIES / Donald F Colleran ownership change
29 May 20
4
EASTGROUP PROPERTIES / H ERIC BOLTON JR ownership change
29 May 20
4
EASTGROUP PROPERTIES / DAVID H HOSTER II ownership change
29 May 20
4
EASTGROUP PROPERTIES / HAYDEN C EAVES III ownership change
29 May 20
4
EASTGROUP PROPERTIES / LELAND R SPEED ownership change
29 May 20
4
EASTGROUP PROPERTIES / D PIKE ALOIAN ownership change
29 May 20
4
EASTGROUP PROPERTIES / MARSHALL A LOEB ownership change
9 Mar 20