EastGroup Acquires Atlanta Property, Sees Healthy Leasing Activity
EGP's expansion efforts in the thriving Sunbelt, shallow bay industrial market align with broader trends in the industrial real estate market.
EastGroup Properties: The Surprising Growth Catalyst in Sun Belt Real Estate
EastGroup's strengths, management, and financials-all in 12 minutes or less!
EastGroup Properties: Double-Digit Dividend Growth, Industrial Powerhouse You Should Consider
EastGroup Properties has shown strong fundamentals, growing FFO and revenue despite industrial sector headwinds, and has raised its dividend and FFO guidance for the year. The REIT's focus on attractive Sun Belt markets and lower leverage ratios positions it well for future growth, even amid current market volatility. With a forward P/FFO multiple of 21.20x and Wall Street's buy rating, EastGroup Properties offers potential double-digit upside.
EastGroup Properties, Inc. (EGP) Q3 2024 Earnings Call Transcript
EastGroup Properties, Inc. (NYSE:EGP ) Q3 2024 Earnings Call Transcript October 24, 2024 11:00 AM ET Company Participants Marshall Loeb - President & Chief Executive Officer Keena Frazier - Director-Leasing Statistics Brent Wood - Chief Financial Officer Conference Call Participants Craig Mailman - Citigroup Rich Anderson - Wedbush Andrew Berger - Bank of America Samir Khanal - Evercore ISI Todd Thomas - KeyBanc Capital Markets Blaine Heck - Wells Fargo Michael Carroll - RBC Capital Markets Alexander Goldfarb - Piper Sandler Nick Thillman - Baird Mike Mueller - JPMorgan Jessica Zheng - Green Street John Kim - BMO Capital Markets Brendan Lynch - Barclays Operator Good morning, ladies and gentlemen, and welcome to the EastGroup Properties Third Quarter 2024 Earnings Conference Call and Webcast. At this time, all lines are in a listen-only mode.
EastGroup Properties (EGP) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
While the top- and bottom-line numbers for EastGroup Properties (EGP) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
EastGroup Properties (EGP) Tops Q3 FFO and Revenue Estimates
EastGroup Properties (EGP) came out with quarterly funds from operations (FFO) of $2.13 per share, beating the Zacks Consensus Estimate of $2.10 per share. This compares to FFO of $1.95 per share a year ago.
Want Decades of Passive Income? 3 Stocks to Buy Right Now
Realty Income has routinely increased its dividend over the last three decades. EastGroup Properties has delivered a dependable and steadily rising dividend payment.
EastGroup Acquires Austin Property, Sees Healthy Leasing Activity
EGP's expansion efforts in the thriving Sunbelt, shallow bay industrial market align with broader trends in the industrial real estate market.
EastGroup Announces a 10.2% Dividend Hike: Is This Hike Sustainable?
Maintaining its impressive track record of increasing dividends, EGP announces a 10.2% hike in quarterly distributions.
Beyond the Recession Hype: 3 Unstoppable Stocks That Can Reward You for Years
Essex Property Trust has raised its dividend in each of the last three recessions. EastGroup Properties has given its investors a raise for a dozen straight years.
EastGroup Properties Still Looks Buyable After Solid Q2 2024 Delivery
EastGroup Properties operates in attractive sunbelt markets, accompanied by a strong job market, population growth, and increasing tourism significance. The Company focuses on last-mile industrial properties with historically lower vacancy rates. As the industrial property sector faces some headwinds, EGP upholds solid business and credit metrics with compelling growth prospects.
Industrial Real Estate Returning To Growth
Second quarter earnings reports from Prologis and First Industrial indicate growth returning to the industrial sector. Industrial real estate market rental rates stopped growing in late 2023, but recent data suggests supply is subsiding, demand is returning, and rates are increasing. Mark-to-market opportunities for industrial REITs range from 20% to 100%, indicating stabilized P/FFO multiples of 10X to 14X.
