EastGroup Properties, Inc.
- Open
- 221.77
- Day high
- 223.37
- Day low
- 220.09
- Prev close
- 222.20
- Volume
- 340K
- Mkt cap
- $11.8B
- P/E (TTM)
- 40.1
- EPS (TTM)
- $5.51
- P/B
- 3.3
- P/S
- 16.0
- Yield
- 2.80%
- Per share
- $6.20
- ▼Insiders net selling -$99K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
EastGroup Properties, Inc. (EGP) is a Real Estate company listed on NYSE. The stock is up 33% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
EastGroup Properties, Inc. (EGP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
EGP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $1.22 | $2.34 | +91.8% | $190M | -0.2% |
| Feb 4, 2026 | $2.33 | $2.34 | +0.4% | $187M | -1.0% |
| Oct 23, 2025 | $2.28 | $2.27 | -0.4% | $182M | -1.8% |
| Jul 23, 2025 | $2.20 | $2.21 | +0.5% | $177M | -1.7% |
| Apr 23, 2025 | $2.11 | $2.12 | +0.5% | $174M | +0.2% |
| Feb 6, 2025 | $1.16 | $2.15 | +85.3% | $164M | -1.2% |
| Oct 23, 2024 | $2.10 | $2.13 | +1.4% | $163M | -1.9% |
| Jul 23, 2024 | $2.05 | $2.05 | +0.0% | $160M | +2.0% |
| Feb 7, 2024 | $2.01 | $2.03 | +1.0% | $149M | -1.8% |
| Jul 25, 2023 | $1.88 | $1.89 | +0.5% | $140M | +2.3% |
| Feb 7, 2023 | $1.77 | $1.82 | +2.8% | $130M | +1.4% |
| Oct 25, 2022 | $1.76 | $1.77 | +0.6% | $126M | +1.6% |
EGP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 8, 2026 | Fields David Michaeldirector | Sell | 504 | $195.77 |
| Jun 2, 2026 | SHELLEY-KESSLER PAMELAdirector | Grant | 122 | — |
| Jun 2, 2026 | ALOIAN D PIKEdirector | Grant | 707 | — |
| Jun 2, 2026 | McCormick Mary Edirector | Grant | 707 | — |
| Jun 2, 2026 | BOLTON H ERIC JRdirector | Grant | 707 | — |
| Jun 2, 2026 | SHELLEY-KESSLER PAMELAdirector | Grant | 707 | — |
| Jun 2, 2026 | Colleran Donald Fdirector | Grant | 707 | — |
| Jun 2, 2026 | Fields David Michaeldirector | Grant | 707 | — |
| Apr 29, 2026 | Traynor James J.officer: EXECUTIVE VICE PRESIDENT | Grant | 1,612 | — |
| Feb 27, 2026 | Collins Ryan Mofficer: Executive Vice President | Grant | 796 | — |
| Feb 27, 2026 | Dunbar Richard Reidofficer: President | Grant | 1,695 | — |
| Feb 27, 2026 | WOOD BRENTofficer: Executive Vice President & COO | Grant | 1,603 | — |
| Feb 27, 2026 | LOEB MARSHALL Adirector, officer: Chief Executive Officer | Grant | 5,888 | — |
| Feb 27, 2026 | Rayner Michelleofficer: Senior Vice President, CAO | Grant | 202 | — |
| Feb 27, 2026 | Tyler Staci H.officer: Executive Vice President, CFO | Grant | 930 | — |
Source: EGP SEC Form 4 filings, latest Jun 8, 2026. For informational purposes only — not investment advice.
See the full EGP insider & 13F page →EastGroup Properties, Inc. company profile
Overview
EastGroup Properties, Inc. (NYSE:EGP) is a self-administered equity real estate investment trust (REIT) that has been publicly traded since 1983. The company specializes in the development, acquisition, and operation of industrial properties across major Sunbelt markets in the United States, with particular emphasis on Florida, Texas, Arizona, California, and North Carolina. As an S&P MidCap 400 component, EastGroup has built a portfolio of approximately 45.8 million square feet of industrial real estate, focusing primarily on distribution facilities that serve location-sensitive customers requiring spaces between 15,000 and 70,000 square feet.
Business
EastGroup Properties operates in the industrial real estate sector, specifically focusing on distribution and logistics facilities. The company's core business involves owning, developing, and leasing industrial properties that serve as distribution centers, warehouses, and logistics hubs for businesses that need to store and move goods efficiently. The industrial real estate market serves companies that require physical space for storing inventory, processing orders, and distributing products to end customers. These facilities are critical components of modern supply chains, particularly for e-commerce companies, third-party logistics providers, and businesses that need to position inventory close to major population centers for rapid delivery. EastGroup's properties are strategically located near major transportation infrastructure such as airports, highways, and ports in supply-constrained submarkets. The company targets what it calls "shallow bay" spaces - smaller format industrial buildings typically ranging from 15,000 to 70,000 square feet that are ideal for last-mile distribution and regional logistics operations. This contrasts with larger "big box" distribution centers that can exceed 500,000 square feet. The company operates as a single business segment focused entirely on industrial properties, with no meaningful diversification into other real estate types such as office, retail, or residential properties. Their geographic concentration in Sunbelt markets reflects a strategy of following population and economic growth trends, as these regions have experienced significant migration and business expansion over the past decade.
Revenue model
EastGroup Properties generates revenue primarily through rental income from leasing industrial properties to tenants under multi-year lease agreements. The company's business model is built around three core activities: developing new industrial properties, acquiring existing stabilized properties, and managing the ongoing operations of their portfolio. The revenue model is straightforward - tenants pay monthly rent for the use of warehouse and distribution space, typically under lease terms ranging from 3 to 10 years. The company benefits from built-in rent escalations, either through fixed annual increases (typically 2-3%) or periodic market-rate resets. When leases expire, EastGroup has the opportunity to re-lease space at current market rates, which have been significantly higher than expiring rents in recent years. The company's customers are primarily businesses involved in distribution, logistics, and light manufacturing. The tenant base is highly diversified, with the top 10 tenants representing only 7.1% of total rental income as of Q1 2025. This includes third-party logistics companies, e-commerce fulfillment operations, food and beverage distributors, and manufacturing companies that need regional distribution capabilities. Several factors influence EastGroup's profitability and margins. Positive factors include limited land supply in their target markets, which constrains new development and supports rent growth. Population migration to Sunbelt markets increases demand for distribution services. The growth of e-commerce and need for faster delivery times drives demand for smaller, strategically located facilities. Negative factors include rising construction costs that can impact development returns, higher interest rates that increase financing costs and may reduce development activity, and potential economic downturns that could reduce tenant demand and increase vacancy rates. Competition from other developers and REITs in attractive markets can also pressure rental rates and acquisition opportunities.
Competitive moat
EastGroup Properties possesses a moderate but meaningful competitive moat built primarily around strategic land positions and local market expertise in supply-constrained Sunbelt submarkets. The company's competitive advantages stem from several factors that create barriers to entry and support pricing power. The most significant moat element is EastGroup's ownership of well-located land in markets where suitable industrial development sites are increasingly scarce. Many of their properties are positioned near major transportation infrastructure in areas where zoning restrictions, environmental constraints, or simply lack of available land make new development difficult. This scarcity supports both occupancy rates and the company's ability to push rents above market averages. EastGroup's focus on smaller-format "shallow bay" industrial properties also provides some competitive differentiation. While many industrial REITs chase large big-box distribution centers, EastGroup has carved out a niche serving tenants who need smaller spaces for last-mile distribution and regional logistics. This market segment has different dynamics and often less competition from large institutional developers. The company's deep local market knowledge and established relationships with brokers, contractors, and municipal authorities in their target markets create operational advantages. Their development expertise allows them to identify and execute projects that may not be apparent to outside competitors. However, the moat is not impregnable. Competitive threats include other well-capitalized industrial REITs expanding into EastGroup's markets, private developers with local expertise, and the potential for large e-commerce companies to develop their own distribution networks. Additionally, if economic conditions deteriorate significantly, the demand advantages that support current rent growth could erode quickly. The industrial real estate sector is also susceptible to technological disruption, such as automation reducing space needs or changes in logistics patterns that could alter location preferences.
Risks & safety
EastGroup Properties demonstrates a strong margin of safety with conservative financial management and solid operational metrics, though current valuation levels warrant caution. **Financial Stability:** • Low debt levels with debt-to-total market capitalization of only 13.7% as of Q1 2025 • Strong debt service coverage with interest and fixed charge coverage ratio of 15x • Debt-to-EBITDA ratio of 3.4x, well below typical REIT leverage levels • Positive free cash flow of $134 million in Q1 2025, supporting dividend coverage • No significant near-term debt maturities creating refinancing risk **Valuation Metrics:** • Current P/E ratio of 38.5x appears elevated for a REIT • EV/EBITDA of 22.2x suggests premium valuation • Price-to-book ratio of 2.7x reflects market confidence but limits downside protection • FFO yield (inverse of FFO multiple) around 5.3% is relatively low for industrial REITs **Other Considerations:** • High occupancy rates of 96.5% provide limited upside buffer but demonstrate operational excellence • Diversified tenant base reduces single-tenant risk • Strong re-leasing spreads of 47% GAAP indicate embedded rent growth potential • Geographic concentration in Sunbelt markets provides growth exposure but also regional risk
Recent development
Over the past few years, EastGroup Properties has executed a strategy focused on disciplined growth through development and selective acquisitions while maintaining balance sheet strength. The company has significantly ramped up its development activity, with development starts increasing from $330 million in 2023 to a planned $300 million in 2025, though they've shown flexibility to adjust based on market conditions. A key strategic shift has been the company's approach to market timing and capital allocation. In 2024 and early 2025, management reduced planned development starts due to economic uncertainty and extended lease-up periods, demonstrating a cautious approach to new investments. They've pushed development starts later in the year and reduced the 2025 budget to $250 million, showing responsiveness to market conditions. EastGroup has also pursued strategic market expansion, entering the Raleigh, North Carolina market in 2024 with the acquisition of the 147 Exchange property. The company has made several targeted acquisitions, including fully leased buildings near DFW Airport and in Phoenix's Season Valley, focusing on immediately accretive deals that enhance long-term portfolio quality. The company has maintained aggressive rent growth strategies, achieving remarkable re-leasing spreads of 50% GAAP and 30% cash for full-year 2024. This reflects both the strength of their markets and their ability to capture embedded rent growth as older leases expire and are renewed at current market rates. Balance sheet optimization has been another focus area, with EastGroup utilizing forward equity agreements to provide financing flexibility while maintaining low leverage ratios. They've also refinanced debt to reduce credit spreads and extended credit facility maturities, positioning the company for various market scenarios.
EGP company profile · for informational purposes only — not investment advice.
Track EGP with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free