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
Website
CEO
Marshall Loeb
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
EASTGROUP PROPERTIES, EASTGROUP PROPERTIES II INC
SEC CIK
Corporate docs
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
News
Wells Fargo Maintains Equal-Weight on EastGroup Props, Raises Price Target to $178
11 Aug 22
7 Analysts Have This to Say About EastGroup Props
1 Aug 22
Morgan Stanley Maintains Equal-Weight on EastGroup Props, Lowers Price Target to $195
1 Aug 22
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
EastGroup Properties Announces Second Quarter 2022 Results
26 Jul 22
EastGroup Properties Announces Second Quarter 2022 Earnings Conference Call and Webcast
30 Jun 22
EastGroup Properties Announces Presentation at the Nareit REITweek: 2022 Investor Conference
3 Jun 22
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
Current price
Average target
$180.40
Low target
$144.00
High target
$210.00
Wells Fargo
Maintains
$178.00
Morgan Stanley
Maintains
$195.00
Jefferies
Maintains
$144.00
Piper Sandler
Maintains
$210.00
Truist Securities
Maintains
$175.00
Calendar
27 Jul 22
18 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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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 |
Recent insider trades
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 |
Institutional ownership, Q2 2022
38.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 353 |
Opened positions | 55 |
Closed positions | 54 |
Increased positions | 121 |
Reduced positions | 113 |
13F shares | Current |
---|---|
Total value | 5.95B |
Total shares | 38.53M |
Total puts | 0 |
Total calls | 2.1K |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 6.1M | $940.78M |
BLK Blackrock | 4.98M | $767.95M |
TROW T. Rowe Price | 2.96M | $457.52M |
STT State Street | 2.24M | $347.93M |
Eaton Vance Management | 1.64M | $253.71M |
FMR | 1.34M | $207.13M |
DB Deutsche Bank AG - Registered Shares | 1.06M | $163.7M |
JPM JPMorgan Chase & Co. | 1.02M | $157.79M |
Zimmer Partners | 850K | $131.18M |
Brown Advisory | 830.73K | $128.68M |
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.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Bad
|
New words:
bearing, CA, owner, parcel, Sacramento, Size, South, sum, Tulloch, undeveloped
Removed:
deferred, long
Financial reports
Current reports
8-K
Second Quarter 2022 Results
26 Jul 22
8-K
Unregistered Sales of Equity Securities
2 Jun 22
8-K
Submission of Matters to a Vote of Security Holders
27 May 22
8-K
Unregistered Sales of Equity Securities
26 May 22
8-K
First Quarter 2022 Results
26 Apr 22
8-K
Fourth Quarter 2021 Results
8 Feb 22
8-K
Departure of Directors or Certain Officers
3 Feb 22
8-K
Third Quarter 2021 Results
26 Oct 21
8-K
Other Events
28 Jul 21
8-K
Second Quarter 2021 Results
27 Jul 21
Registration and prospectus
S-3ASR
Automatic shelf registration
3 Jun 22
424B5
Prospectus supplement for primary offering
28 Jul 21
424B5
Prospectus supplement for primary offering
20 Dec 19
S-3ASR
Automatic shelf registration
20 Dec 19
424B5
Prospectus supplement for primary offering
14 Feb 18
424B5
Prospectus supplement for primary offering
5 Mar 17
S-3ASR
Automatic shelf registration
5 Mar 17
424B5
Prospectus supplement for primary offering
18 Feb 14
S-3ASR
Automatic shelf registration
13 Feb 14
S-8 POS
Registration of securities for employees (post-effective amendment)
10 Feb 14
Proxies
DEFA14A
Additional proxy soliciting materials
14 Apr 22
DEFA14A
Additional proxy soliciting materials
12 Apr 21
PRE 14A
Preliminary proxy
30 Mar 21
DEFA14A
Additional proxy soliciting materials
6 May 20
DEFA14A
Additional proxy soliciting materials
9 Apr 20
DEFA14A
Additional proxy soliciting materials
12 Apr 19
DEF 14A
Definitive proxy
12 Apr 19
Other
UPLOAD
Letter from SEC
6 Jul 15
CORRESP
Correspondence with SEC
5 Jul 15
UPLOAD
Letter from SEC
30 Jun 15
UPLOAD
Letter from SEC
26 Apr 12
CORRESP
Correspondence with SEC
25 Apr 12
UPLOAD
Letter from SEC
15 Apr 12
UPLOAD
Letter from SEC
21 Jul 10
CORRESP
Correspondence with SEC
1 Jul 10
UPLOAD
Letter from SEC
22 Jun 10
CERTNYS
Certification of approval for NYSE listing
30 Jun 03
Ownership
4
EASTGROUP PROPERTIES / HAYDEN C EAVES III ownership change
10 Jun 22
4
EASTGROUP PROPERTIES / Katherine M Sandstrom ownership change
7 Jun 22
4
EASTGROUP PROPERTIES / Mary E McCormick ownership change
7 Jun 22
4
EASTGROUP PROPERTIES / DAVID H HOSTER II ownership change
7 Jun 22
4
EASTGROUP PROPERTIES / David Michael Fields ownership change
7 Jun 22
4
EASTGROUP PROPERTIES / HAYDEN C EAVES III ownership change
7 Jun 22
4
EASTGROUP PROPERTIES / Donald F Colleran ownership change
7 Jun 22
4
EASTGROUP PROPERTIES / H ERIC BOLTON JR ownership change
7 Jun 22
4
EASTGROUP PROPERTIES / D PIKE ALOIAN ownership change
7 Jun 22
4
EASTGROUP PROPERTIES / Staci H. Tyler ownership change
7 Mar 22
Transcripts
2022 Q2
Earnings call transcript
27 Jul 22
2022 Q3
Earnings call transcript
27 Apr 22
2021 Q4
Earnings call transcript
9 Feb 22
2021 Q3
Earnings call transcript
27 Oct 21
2021 Q2
Earnings call transcript
28 Jul 21
2021 Q1
Earnings call transcript
29 Apr 21
2020 Q4
Earnings call transcript
10 Feb 21
2020 Q3
Earnings call transcript
28 Oct 20
2020 Q2
Earnings call transcript
29 Jul 20
2020 Q1
Earnings call transcript
1 May 20
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