EastGroup Properties, Inc. | REIT Profile
Symbol: EGP
CIK: 49600
Exchange: NYSE
Founded: 1969 (55 years)
HQ: Jackson, MS, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Industrial
Internally Managed REIT
See EGP on Yahoo Finance
See EGP on SEC.gov
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EastGroup Properties, Inc. (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, 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. The Company’s portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 56.0 million square feet.
Stock Chart
REITMovers
REITMovers tracks the stock price and other indicators for all US REITs tracked by REITNotes during normal trading hours. This data is updated every 4 minutes during normal trading hours. Note: All prices have a 15 minute delay.
| Latest Price | High | Low | Open | Previous Close | Volume | Change $ | Change % |
|---|---|---|---|---|---|---|---|
| $171.01 | $173.65 | $169.30 | $173.42 | $174.11 | 302,832 | -$3.10 | -1.78% |
Last update: 2024-11-21 06:09:22 PST
REITRating™ Trend
REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.
Dividend of Trading Day 2024-11-20
Annualized Dividend: $5.6*
Dividend Yield (TTM): 3%
Annualized Dividend (TTM): $5.21
Ex-Dividend Date: 2024-09-30
Dividend Date: 2024-10-15
Dividend Frequency: Quarterly
*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.
Latest REIT Press Releases
- EastGroup Properties Announces Third Quarter 2024 Results - Wed, 23 Oct 2024 20:07:15 UTC
- EastGroup Properties Announces Dividend Increase - Mon, 26 Aug 2024 19:36:04 UTC
- EastGroup Properties Announces Second Quarter 2024 Results - Tue, 23 Jul 2024 20:07:27 UTC
- EastGroup Properties Announces Recent Business Activity and Presentation at Nareit's REITweek - Thu, 30 May 2024 20:34:08 UTC
- EastGroup Properties Announces 178th Consecutive Quarterly Cash Dividend - Thu, 23 May 2024 19:13:05 UTC
Funds From Operations (FFO)
FFO Amount and Payout Ratio
Below are the FFO amounts, dividends, and payout ratios for the last two quarters for EGP.
| Year | Quarter | Type | Amount | Dividend Paid | Payout Ratio |
|---|---|---|---|---|---|
| 2024 | Q2 | FFO | $--- | $--- | ---% |
| 2024 | Q1 | FFO | $--- | $--- | ---% |
REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.
Key Stats of Trading Day 2024-11-20
EBITDA: $412,092,000
P/E Ratio: 35.90
PEG Ratio: 5.78
Book Value: 57.66
Dividend Per Share: $5.21
EPS: 4.85
Revenue Per Share TTM: $13.09
ProfitMargin: 37.00%
Operating Margin TTM: 39.60%
Return on Equity TTM: 8.90%
Revenue TTM: $627,818,000
Gross Profit TTM: $353,110,000
Diluted EPS TTM: $4.85
Quarterly Earnings Growth YOY: 5.50%
Quarterly Revenue Growth YOY: 12.80%
Trailing P/E: 35.90
Forward P/E: N/A
Beta: 1.01
Price to Book Ratio: 3.02
EV to Revenue: 16.27
EV to EBITDA: 22.34x
Shares Outstanding: 49,505,600
52 Week High: $191.17
52 Week Low: $152.91
50 Day Moving Average: $180.25
200 Day Moving Average: $176.27
Properties Owned by EGP
Sample of REIT’s Properties. Image Source - REIT’s website
Occupancy Rate
REIT Simulation
Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.
| With $1,000 USD | With $500 USD | With $250 USD | With $100 USD | With $50 USD | |
|---|---|---|---|---|---|
| Initial investment | @ $132.55 per share you would have been able to buy 7 shares of EGP on 2023-11-21 costing $927.85 | @ $132.55 per share you would have been able to buy 3 shares of EGP on 2023-11-21 costing $397.65 | @ $132.55 per share you would have been able to buy 1 shares of EGP on 2023-11-21 costing $132.55 | @ $132.55 per share you would have been able to buy 0 shares of EGP on 2023-11-21 costing $0.00 | @ $132.55 per share you would have been able to buy 0 shares of EGP on 2023-11-21 costing $0.00 |
| Current worth | On 2024-07-05 these 7 shares would be worth $1,215.27 @ $173.61 | On 2024-07-05 these 3 shares would be worth $520.83 @ $173.61 | On 2024-07-05 these 1 shares would be worth $173.61 @ $173.61 | On 2024-07-05 these 0 shares would be worth $0.00 @ $173.61 | On 2024-07-05 these 0 shares would be worth $0.00 @ $173.61 |
| Dividends earned | $36.47 in dividends would have been earned since 2023-11-21 with 7 shares. | $16 in dividends would have been earned since 2023-11-21 with 3 shares. | $5.21 in dividends would have been earned since 2023-11-21 with 1 shares. | $0.00 in dividends would have been earned since 2023-11-21 with 0 shares. | $0.00 in dividends would have been earned since 2023-11-21 with 3 shares. |
| Net (gain / loss)* | 323.89 USD | 138.81 USD | 46.27 USD | 0.00 USD | 0.00 USD |
| ROI** | 34.91% | 34.91% | 34.91% | nan% | nan% |
*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.
Dividend History
Below are the most recent cash dividends paid by EGP. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.
| Symbol | Ex Date | Cash Amount | Change in Dividend | Declaration Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| EGP | 2024-09-30 | 1.400 | 10.24% | 2024-08-23 | 2024-09-30 | 2024-10-15 |
| EGP | 2024-06-28 | 1.270 | --- | 2024-05-23 | 2024-06-28 | 2024-07-15 |
| EGP | 2024-03-27 | 1.270 | --- | 2024-03-08 | 2024-03-28 | 2024-04-15 |
| EGP | 2023-12-28 | 1.270 | --- | 2023-12-08 | 2023-12-29 | 2024-01-12 |
| EGP | 2023-09-28 | 1.270 | 1.60% | 2023-08-25 | 2023-09-29 | 2023-10-13 |
| EGP | 2023-06-29 | 1.250 | --- | 2023-05-25 | 2023-06-30 | 2023-07-14 |
| EGP | 2023-03-30 | 1.250 | --- | 2023-03-03 | 2023-03-31 | 2023-04-14 |
| EGP | 2022-12-29 | 1.250 | --- | 2022-12-01 | 2022-12-30 | 2023-01-13 |
| EGP | 2022-09-29 | 1.250 | 13.64% | 2022-08-26 | 2022-09-30 | 2022-10-14 |
| EGP | 2022-06-29 | 1.100 | --- | 2022-05-26 | 2022-06-30 | 2022-07-15 |
| EGP | 2022-03-30 | 1.100 | --- | 2022-03-04 | 2022-03-31 | 2022-04-14 |
| EGP | 2021-12-30 | 1.100 | 22.22% | 2021-12-01 | 2021-12-31 | 2022-01-15 |
| EGP | 2021-09-29 | 0.900 | 13.92% | 2021-08-26 | 2021-09-30 | 2021-10-15 |
| EGP | 2021-06-29 | 0.790 | --- | 2021-05-27 | 2021-06-30 | 2021-07-15 |
| EGP | 2021-03-30 | 0.790 | --- | 2021-03-05 | 2021-03-31 | 2021-04-15 |
| EGP | 2020-12-30 | 0.790 | --- | 2020-12-03 | 2020-12-31 | 2021-01-15 |
| EGP | 2020-09-29 | 0.790 | 5.33% | 2020-08-27 | 2020-09-30 | 2020-10-15 |
| EGP | 2020-06-29 | 0.750 | --- | 2020-05-21 | 2020-06-30 | 2020-07-15 |
| EGP | 2020-03-30 | 0.750 | --- | 2020-03-05 | 2020-03-31 | 2020-04-15 |
| EGP | 2019-12-27 | 0.750 | --- | 2019-12-06 | 2019-12-30 | 2020-01-15 |
Financial Statements Overview
Balance Sheet | Quarterly
See Annual Balance Sheet | See Quarterly Balance Sheet
Income Statement | Quarterly
See Annual Income Statement | See Quarterly Income Statement
Cash Flow | Quarterly
See Annual Cash Flow | See Quarterly Cash Flow
REITRating™ Scorecard
| Rating | Dividend Section | Avg. Rating |
|---|---|---|
| 8 | Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. | 5.0 |
| 10 | Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. | 7.9 |
| 9 | Dividend to FFO Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Payout Ratios during the last four quarters. | 8.6 |
| 8 | Dividend to FFO Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Payout Ratios trend during the last two years. | 7.5 |
| Rating | AFFO & Efficiency Section | Avg. Rating |
| 10 | FFO Trend: Analysis of the REIT’s FFO trend during the last two years. | 8.6 |
| 8 | FFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. | 6.8 |
| 9 | Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. | 6.9 |
| 9 | Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. | 8.1 |
| Rating | Leverage Section | Avg. Rating |
| 10 | Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. | 5.9 |
| 10 | Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. | 6.5 |
| 10 | Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. | 7.8 |
| 8 | Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. | 7.3 |
| 8 | Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. | 4.8 |
| 10 | Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. | 6.8 |
| Rating | Asset & Revenue Section | Avg. Rating |
| 10 | G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. | 7.5 |
| 10 | G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. | 8.3 |
| 10 | Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. | 7.3 |
| 10 | Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. | 6.3 |
| Rating | Properties Section | Avg. Rating |
| 9 | Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. | 7.8 |
| 9 | Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. | 7.8 |
| 10 | Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. | 8.1 |
| Rating | Market Cap Section | Avg. Rating |
| 4 | Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. | 5.6 |
| 9.1 | Overall REITRating™ Score (See trend) | 6.4 |
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.
REITProperty
| Name | Type | Address | City | State |
|---|---|---|---|---|
| Ten Sky Harbor | Distribution Center | 3825 South 36th Street | Phoenix | AZ |
| 55th Avenue Distribution Center | Distribution Center | 616 S 55th Ave | Phoenix | AZ |
| Chandler Freeways | Distribution Center | 6850 W Morelos Pl | Chandler | AZ |
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Last updated: 2024-11-21 - v5.8