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 Industial, LLC ...
IRS number
132711135
EGP stock data
Analyst ratings and price targets
Latest filings (excl ownership)
10-K
2022 FY
Annual report
15 Feb 23
8-K
Fourth Quarter 2022 Results
7 Feb 23
8-K
Entry into a Material Definitive Agreement
13 Jan 23
8-K
Other Events
16 Dec 22
424B5
Prospectus supplement for primary offering
16 Dec 22
S-3ASR
Automatic shelf registration
16 Dec 22
10-Q
2022 Q3
Quarterly report
26 Oct 22
8-K
Third Quarter 2022 Results
25 Oct 22
8-K
Entry into a Material Definitive Agreement
19 Aug 22
10-Q
2022 Q2
Quarterly report
27 Jul 22
Transcripts
EGP
Earnings call transcript
2022 Q4
8 Feb 23
EGP
Earnings call transcript
2022 Q3
27 Oct 22
EGP
Earnings call transcript
2022 Q2
27 Jul 22
EGP
Earnings call transcript
2022 Q3
27 Apr 22
EGP
Earnings call transcript
2021 Q4
9 Feb 22
EGP
Earnings call transcript
2021 Q3
27 Oct 21
EGP
Earnings call transcript
2021 Q2
28 Jul 21
EGP
Earnings call transcript
2021 Q1
29 Apr 21
EGP
Earnings call transcript
2020 Q4
10 Feb 21
EGP
Earnings call transcript
2020 Q3
28 Oct 20
Financial summary
| Quarter (USD) | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
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| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|---|
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| 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) | 56.00 k | 56.00 k | 56.00 k | 56.00 k | 56.00 k | 56.00 k |
| Cash burn (monthly) | 1.60 mm | 361.42 k | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | 4.82 mm | 1.09 mm | n/a | n/a | n/a | n/a |
| Cash remaining | -4.77 mm | -1.03 mm | n/a | n/a | n/a | n/a |
| Runway (months of cash) | -3.0 | -2.9 | n/a | n/a | n/a | n/a |
Institutional ownership, Q4 2022
90.8% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 362 |
| Opened positions | 55 |
| Closed positions | 40 |
| Increased positions | 139 |
| Reduced positions | 108 |
| 13F shares | Current |
|---|---|
| Total value | 5.80 tn |
| Total shares | 39.53 mm |
| Total puts | 9.30 k |
| Total calls | 8.80 k |
| Total put/call ratio | 1.1 |
| Largest owners | Shares | Value |
|---|---|---|
| Vanguard | 6.42 mm | $949.91 bn |
| BLK Blackrock | 4.88 mm | $723.02 bn |
| STT State Street | 2.33 mm | $347.95 bn |
| T. Rowe Price Investment Management | 2.07 mm | $307.42 bn |
| MS Morgan Stanley | 2.04 mm | $302.68 bn |
| FMR | 1.36 mm | $201.01 bn |
| JPM JPMorgan Chase & Co. | 1.26 mm | $186.85 bn |
| Deutsche Bank AG - Registered Shares | 1.22 mm | $180.00 bn |
| Brown Advisory | 870.59 k | $128.90 bn |
| Zimmer Partners | 812.50 k | $120.30 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 Mar 23 | Coleman John F | Common Stock | Grant | Acquire A | No | No | 0 | 1,074 | 0.00 | 91,505 |
| 2 Mar 23 | Collins Ryan M | Common Stock | Grant | Acquire A | No | No | 0 | 871 | 0.00 | 14,298 |
| 2 Mar 23 | Dunbar Richard Reid | Common Stock | Grant | Acquire A | No | No | 0 | 962 | 0.00 | 18,888 |
| 2 Mar 23 | Loeb Marshall A | Common Stock | Grant | Acquire A | No | No | 0 | 4,559 | 0.00 | 117,563 |
| 2 Mar 23 | Staci H. Tyler | Common Stock | Grant | Acquire A | No | No | 0 | 456 | 0.00 | 9,237 |
News
6 Analysts Have This to Say About EastGroup Props
20 Mar 23
Benzinga's Top Ratings Upgrades, Downgrades For March 20, 2023
20 Mar 23
Mizuho Upgrades EastGroup Props to Buy, Raises Price Target to $185
20 Mar 23
Morgan Stanley Maintains Equal-Weight on EastGroup Props, Raises Price Target to $158
22 Feb 23
Truist Securities Maintains Hold on EastGroup Props, Raises Price Target to $180
21 Feb 23
Press releases
EastGroup Properties Announces 173rd Consecutive Quarterly Cash Dividend
3 Mar 23
EastGroup Properties Announces Recent Business Activity
1 Mar 23
EastGroup Properties Announces Fourth Quarter and Year 2022 Results
7 Feb 23
EastGroup Properties Announces the Income Tax Treatment of its 2022 Distributions
26 Jan 23
EastGroup Properties Announces Fourth Quarter 2022 Earnings Conference Call and Webcast
10 Jan 23