EastGroup Properties (EGP)
Market Price (9/26/2026): $201.35 | Market Cap: $10.8 BilSector: Real Estate | Industry: Industrial REITs
EastGroup Properties (EGP)
Market Price (9/26/2026): $201.35Market Cap: $10.8 BilSector: Real EstateIndustry: Industrial REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.8%, Dividend Yield is 3.0% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 67%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 67% Low stock price volatilityVol 12M is 17% Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, E-commerce & Digital Retail, and Automation & Robotics. Themes include E-commerce Logistics REITs, Show more. | Weak multi-year price returns2Y Excs Rtn is -21%, 3Y Excs Rtn is -50% | Expensive valuation multiplesP/SPrice/Sales ratio is 14x Key risksEGP key risks include [1] its significant geographic concentration in the Sunbelt, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.8%, Dividend Yield is 3.0% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 67%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 67% |
| Low stock price volatilityVol 12M is 17% |
| Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, E-commerce & Digital Retail, and Automation & Robotics. Themes include E-commerce Logistics REITs, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -21%, 3Y Excs Rtn is -50% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 14x |
| Key risksEGP key risks include [1] its significant geographic concentration in the Sunbelt, Show more. |
Qualitative Assessment
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Updated on 9/1/2026
EastGroup Properties (EGP) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Earnings Performance. EastGroup Properties reported diluted earnings per share (EPS) of $1.40 for fiscal Q2 2026, which ended June 30, 2026. While this exceeded some analyst estimates of $1.31, it fell short of other consensus estimates of $2.37, resulting in a reported negative surprise of 40.93% by some sources. Additionally, quarterly revenue grew 9.0% year-over-year to $193.33 million but narrowly missed analyst expectations. This mixed financial performance likely contributed to the stock remaining largely flat as positive and negative sentiments balanced each other.
2. Positive Dividend Increase Offset by Broader Market Hesitation. On August 27, 2026, EastGroup Properties announced a significant 12.9% increase in its quarterly dividend, raising it to $1.75 per share from $1.55 per share. While this company-specific positive news typically appeals to income-focused investors and provides fundamental support, its impact on stock appreciation was likely moderated by prevailing macroeconomic conditions.
Show more
EastGroup Properties (EGP) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Earnings Performance. EastGroup Properties reported diluted earnings per share (EPS) of $1.40 for fiscal Q2 2026, which ended June 30, 2026. While this exceeded some analyst estimates of $1.31, it fell short of other consensus estimates of $2.37, resulting in a reported negative surprise of 40.93% by some sources. Additionally, quarterly revenue grew 9.0% year-over-year to $193.33 million but narrowly missed analyst expectations. This mixed financial performance likely contributed to the stock remaining largely flat as positive and negative sentiments balanced each other.
2. Positive Dividend Increase Offset by Broader Market Hesitation. On August 27, 2026, EastGroup Properties announced a significant 12.9% increase in its quarterly dividend, raising it to $1.75 per share from $1.55 per share. While this company-specific positive news typically appeals to income-focused investors and provides fundamental support, its impact on stock appreciation was likely moderated by prevailing macroeconomic conditions.
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Updated on 9/1/2026
EastGroup Properties (EGP) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Earnings Performance. EastGroup Properties reported diluted earnings per share (EPS) of $1.40 for fiscal Q2 2026, which ended June 30, 2026. While this exceeded some analyst estimates of $1.31, it fell short of other consensus estimates of $2.37, resulting in a reported negative surprise of 40.93% by some sources. Additionally, quarterly revenue grew 9.0% year-over-year to $193.33 million but narrowly missed analyst expectations. This mixed financial performance likely contributed to the stock remaining largely flat as positive and negative sentiments balanced each other.
2. Positive Dividend Increase Offset by Broader Market Hesitation. On August 27, 2026, EastGroup Properties announced a significant 12.9% increase in its quarterly dividend, raising it to $1.75 per share from $1.55 per share. While this company-specific positive news typically appeals to income-focused investors and provides fundamental support, its impact on stock appreciation was likely moderated by prevailing macroeconomic conditions.
3. Elevated Interest Rate Environment. The broader real estate market faced headwinds from elevated interest rates during the period. As of September 1, 2026, the average 30-year fixed mortgage rate stood at 6.759%, which was more than a full percentage point higher than six months prior. Forecasts from institutions like Fannie Mae and the Mortgage Bankers Association projected rates to remain in the mid-6% range for the remainder of 2026. Such higher borrowing costs generally increase the cost of capital for real estate investment trusts (REITs) like EastGroup Properties, potentially dampening investor enthusiasm for significant stock price growth despite the generally strong performance observed in the overall REIT sector through mid-2026.
Show less
EastGroup Properties (EGP) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Earnings Performance. EastGroup Properties reported diluted earnings per share (EPS) of $1.40 for fiscal Q2 2026, which ended June 30, 2026. While this exceeded some analyst estimates of $1.31, it fell short of other consensus estimates of $2.37, resulting in a reported negative surprise of 40.93% by some sources. Additionally, quarterly revenue grew 9.0% year-over-year to $193.33 million but narrowly missed analyst expectations. This mixed financial performance likely contributed to the stock remaining largely flat as positive and negative sentiments balanced each other.
2. Positive Dividend Increase Offset by Broader Market Hesitation. On August 27, 2026, EastGroup Properties announced a significant 12.9% increase in its quarterly dividend, raising it to $1.75 per share from $1.55 per share. While this company-specific positive news typically appeals to income-focused investors and provides fundamental support, its impact on stock appreciation was likely moderated by prevailing macroeconomic conditions.
3. Elevated Interest Rate Environment. The broader real estate market faced headwinds from elevated interest rates during the period. As of September 1, 2026, the average 30-year fixed mortgage rate stood at 6.759%, which was more than a full percentage point higher than six months prior. Forecasts from institutions like Fannie Mae and the Mortgage Bankers Association projected rates to remain in the mid-6% range for the remainder of 2026. Such higher borrowing costs generally increase the cost of capital for real estate investment trusts (REITs) like EastGroup Properties, potentially dampening investor enthusiasm for significant stock price growth despite the generally strong performance observed in the overall REIT sector through mid-2026.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 0.6% change in EGP stock from 5/31/2026 to 9/25/2026 was primarily driven by a 2.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312026 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 200.40 | 201.52 | 0.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 737 | 753 | 2.2% |
| Net Income Margin (%) | 39.7% | 40.5% | 2.0% |
| P/E Multiple | 36.6 | 35.5 | -3.1% |
| Shares Outstanding (Mil) | 53 | 54 | -0.4% |
| Cumulative Contribution | 0.6% |
Market Drivers
5/31/2026 to 9/25/2026| Return | Correlation | |
|---|---|---|
| EGP | 0.6% | |
| Market (SPY) | 2.2% | 8.5% |
| Sector (XLRE) | -4.7% | 63.5% |
Fundamental Drivers
The 4.3% change in EGP stock from 2/28/2026 to 9/25/2026 was primarily driven by a 13.4% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 193.19 | 201.52 | 4.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 721 | 753 | 4.4% |
| Net Income Margin (%) | 35.7% | 40.5% | 13.4% |
| P/E Multiple | 40.0 | 35.5 | -11.2% |
| Shares Outstanding (Mil) | 53 | 54 | -0.8% |
| Cumulative Contribution | 4.3% |
Market Drivers
2/28/2026 to 9/25/2026| Return | Correlation | |
|---|---|---|
| EGP | 4.3% | |
| Market (SPY) | 13.0% | 27.7% |
| Sector (XLRE) | -3.7% | 68.6% |
Fundamental Drivers
The 22.9% change in EGP stock from 8/31/2025 to 9/25/2026 was primarily driven by a 16.1% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 163.93 | 201.52 | 22.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 679 | 753 | 11.0% |
| Net Income Margin (%) | 34.9% | 40.5% | 16.1% |
| P/E Multiple | 36.4 | 35.5 | -2.5% |
| Shares Outstanding (Mil) | 53 | 54 | -2.2% |
| Cumulative Contribution | 22.9% |
Market Drivers
8/31/2025 to 9/25/2026| Return | Correlation | |
|---|---|---|
| EGP | 22.9% | |
| Market (SPY) | 20.9% | 24.1% |
| Sector (XLRE) | 1.6% | 65.6% |
Fundamental Drivers
The 23.4% change in EGP stock from 8/31/2023 to 9/25/2026 was primarily driven by a 42.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312023 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 163.24 | 201.52 | 23.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 530 | 753 | 42.0% |
| Net Income Margin (%) | 31.0% | 40.5% | 30.4% |
| P/E Multiple | 44.3 | 35.5 | -19.9% |
| Shares Outstanding (Mil) | 45 | 54 | -16.8% |
| Cumulative Contribution | 23.4% |
Market Drivers
8/31/2023 to 9/25/2026| Return | Correlation | |
|---|---|---|
| EGP | 23.4% | |
| Market (SPY) | 77.8% | 47.3% |
| Sector (XLRE) | 24.4% | 74.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| EGP Return | 68% | -33% | 28% | -10% | 15% | 16% | 72% |
| Peers Return | 62% | -30% | 16% | -12% | 13% | 7% | 39% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| EGP Win Rate | 75% | 25% | 67% | 50% | 58% | 78% | |
| Peers Win Rate | 73% | 35% | 50% | 45% | 68% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| EGP Max Drawdown | -10% | -38% | -16% | -17% | -22% | -12% | |
| Peers Max Drawdown | -10% | -39% | -25% | -22% | -24% | -14% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PLD, FR, REXR, STAG, TRNO. See EGP Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/25/2026 (YTD)
How Low Can It Go
| Event | EGP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.6% | -18.8% |
| % Gain to Breakeven | 22.9% | 23.1% |
| Time to Breakeven | 191 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.7% | -9.5% |
| % Gain to Breakeven | 18.7% | 10.5% |
| Time to Breakeven | 52 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.2% | -24.5% |
| % Gain to Breakeven | 59.3% | 32.4% |
| Time to Breakeven | 1287 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.4% | -33.7% |
| % Gain to Breakeven | 59.6% | 50.9% |
| Time to Breakeven | 203 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -14.2% | -3.7% |
| % Gain to Breakeven | 16.6% | 3.9% |
| Time to Breakeven | 55 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -12.4% | -12.2% |
| % Gain to Breakeven | 14.1% | 13.9% |
| Time to Breakeven | 24 days | 62 days |
In The Past
EastGroup Properties's stock fell -18.6% during the 2025 US Tariff Shock. Such a loss loss requires a 22.9% gain to breakeven.
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Asset Allocation
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| Event | EGP | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.2% | -24.5% |
| % Gain to Breakeven | 59.3% | 32.4% |
| Time to Breakeven | 1287 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.4% | -33.7% |
| % Gain to Breakeven | 59.6% | 50.9% |
| Time to Breakeven | 203 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -25.0% | -17.9% |
| % Gain to Breakeven | 33.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -47.9% | -53.4% |
| % Gain to Breakeven | 92.1% | 114.4% |
| Time to Breakeven | 189 days | 1085 days |
In The Past
EastGroup Properties's stock fell -18.6% during the 2025 US Tariff Shock. Such a loss loss requires a 22.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About EastGroup Properties (EGP)
EastGroup Properties (EGP) is a self-administered equity real estate investment trust (REIT) dedicated to industrial properties. The company's core business involves the development, acquisition, and operation of these facilities, with a strategic focus on maximizing shareholder value through its real estate portfolio management.
EGP's main product offering is functional, flexible, and high-quality business distribution space, specifically catering to location-sensitive customers. These properties typically provide leasable units ranging from 15,000 to 70,000 square feet, serving a variety of businesses that require efficient and strategically located industrial space for their operations.
The company's growth strategy emphasizes owning premier distribution facilities, which are generally clustered near major transportation features in supply-constrained submarkets. EastGroup Properties concentrates its operations in major Sunbelt markets across the United States, with a particular emphasis on Florida, Texas, Arizona, California, and North Carolina. Its current portfolio, including properties under development, spans approximately 45.8 million square feet.
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Here are 1-2 brief analogies for EastGroup Properties (EGP):
- Prologis, but for mid-sized industrial warehouses in the Sunbelt.
- Public Storage for businesses needing industrial distribution space.
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- Industrial Property Leasing: Providing functional, flexible, and quality business distribution space for lease to customers in major Sunbelt markets.
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EastGroup Properties (EGP) is a Real Estate Investment Trust (REIT) that develops, acquires, and operates industrial properties. As such, its customers are other businesses that lease its industrial distribution space.
Given the nature of its business as a diversified industrial REIT, EastGroup Properties serves a broad and diverse base of corporate tenants across various industries. It does not typically have a few "major customers" that dominate its revenue or are publicly disclosed by name, as its strategy involves leasing functional, flexible business distribution space to many different companies, primarily in the 15,000 to 70,000 square foot range. Its 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.
Since EastGroup Properties leases industrial space to a wide array of businesses rather than relying on a few anchor tenants, specific major customer company names are generally not publicly disclosed. Instead, its customer base consists of a diversified group of companies that require distribution, logistics, and light industrial space. These categories of customer companies generally include:
- Logistics and Distribution Companies: Businesses specializing in third-party logistics (3PL), warehousing, supply chain management, and the distribution of goods for various industries.
- E-commerce and Retailers: Online retailers, omnichannel businesses, and traditional retailers that utilize industrial facilities for fulfillment centers, last-mile distribution, and inventory storage.
- Light Manufacturing and Assembly: Companies involved in light manufacturing, assembly, research and development, or specialized production that require industrial space for operations, storage, and product distribution.
- Service and Wholesale Trade Companies: Various service providers (e.g., construction services, equipment rentals) and wholesale distributors that need industrial space for equipment storage, staging areas, and local distribution hubs.
This diversified tenant base helps mitigate risk for the REIT, as no single tenant or industry typically accounts for a disproportionate amount of its revenue.
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Marshall A. Loeb - Chief Executive Officer
Mr. Loeb rejoined EastGroup Properties as President and Chief Operating Officer in March 2015 and was named Chief Executive Officer and a director in January 2016. He previously served as President and Chief Operating Officer of Glimcher Realty Trust, a retail REIT, from 2005 to 2015, which was acquired by Washington Prime Group Inc. From 2000 to 2005, he was Chief Financial Officer of Parkway Properties, Inc., an office REIT. Mr. Loeb was also previously employed by EastGroup from 1991 to 2000. He has over 30 years of experience with publicly held REITs.
Staci H. Tyler, CPA - Executive Vice President, Chief Financial Officer and Treasurer
Ms. Tyler was appointed Executive Vice President, Chief Financial Officer and Treasurer, effective January 1, 2026. Prior to this, she served as Chief Administrative Officer and Chief Accounting Officer. Ms. Tyler joined EastGroup in 2011 as Assistant Controller and became Vice President and Controller in 2020. Before joining EastGroup, she was a Senior Audit Associate with KPMG LLP.
R. Reid Dunbar - President
Mr. Dunbar was appointed President of EastGroup Properties, effective January 1, 2026. He has served as Executive Vice President of the Company's Central Region since January 2025 and as a Senior Vice President from May 2017 to 2025, responsible for operations in the Texas, Louisiana, and Tennessee markets. Since joining EastGroup in 2017, Mr. Dunbar has led the Central Region, contributing to portfolio growth and strengthening the development pipeline.
Brent W. Wood - Executive Vice President and Chief Operating Officer
Mr. Wood transitioned to the newly created position of Executive Vice President and Chief Operating Officer, effective January 1, 2026. He previously served as Chief Financial Officer and Executive Vice President since 2017. Mr. Wood joined EastGroup in 1996 and has held various finance and asset management roles, including Assistant Controller, Senior Asset Manager, Vice President, and Senior Vice President overseeing the Texas region. Before joining EastGroup, he was a Senior Audit Consultant with a regional public accounting firm.
Michelle Rayner, CPA - Senior Vice President and Chief Accounting Officer
Ms. Rayner was appointed Senior Vice President and Chief Accounting Officer, effective January 1, 2026. She was previously the Controller and Vice President of Financial Reporting. Ms. Rayner joined EastGroup in 2011 as Assistant Controller and became Vice President and Controller in 2020. Prior to joining EastGroup, she served as a Senior Audit Associate with KPMG LLP.
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The key risks to EastGroup Properties' business are primarily centered around its development activities, sensitivity to interest rate fluctuations, and broader economic and market uncertainties.
- Development Risks: EastGroup Properties engages in significant development activities, which expose it to various risks. These include the potential for cost overruns, construction delays, and supply chain disruptions, all of which can impact the profitability of new projects and delay their growth trajectory. Additionally, there is a risk of slower-than-expected leasing on newly developed properties, which could negatively affect future growth outlook. Zoning and permitting challenges can also act as headwinds for development pacing.
- Interest Rate Sensitivity and Financial Risks: As a real estate investment trust (REIT), EastGroup Properties is particularly sensitive to fluctuations in interest rates. Rising interest rates can lead to increased borrowing costs, making it more expensive to finance acquisitions and new developments. This sensitivity can potentially squeeze profit margins, affect the company's ability to service its debt obligations efficiently, and pose refinancing challenges at higher rates. Furthermore, the company's financing strategy, which includes equity offerings, carries the risk of market dilution if a substantial number of shares are issued, potentially impacting per-share metrics and shareholder value.
- Economic Uncertainty and Market Risks: EastGroup Properties operates within the broader economic landscape, making it vulnerable to general economic uncertainties. Macroeconomic factors such as inflation, potential recessions, and geopolitical conflicts can affect the demand for industrial space, leading to fluctuations in occupancy rates or rental rates. These conditions may challenge the company's ability to lease space at current or anticipated rents, thereby impacting its revenue and profitability. The competitive environment in its target Sunbelt markets also presents a continuous market risk.
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The addressable market for EastGroup Properties, Inc. (EGP) is the industrial real estate market, specifically focusing on business distribution space, primarily in the 15,000 to 70,000 square foot range, within major Sunbelt markets across the United States.
The overall U.S. industrial real estate market is substantial. In 2024, the total industrial real estate inventory in the United States reached nearly 4.7 billion square feet. Furthermore, the broader U.S. commercial leasing market, which encompasses industrial properties, generates over $257 billion in annual revenue, with modest growth anticipated in 2025.
EastGroup Properties' primary addressable market is concentrated in the Sunbelt region of the U.S., which includes states like Florida, Texas, Arizona, California, and North Carolina. This region holds approximately 50% of the national population and accounted for 80% of total U.S. population growth over the past decade, driving significant demand for industrial space.
Within this broader market, EastGroup Properties targets a specific segment of "small-bay industrial" properties (generally under 50,000 square feet), which aligns with their focus on 15,000 to 70,000 square foot spaces. This segment of the market demonstrates particularly strong fundamentals, with vacancy rates for small-bay industrial space remaining critically tight, often below 5%, in contrast to higher rates for larger logistics facilities. This indicates a robust demand and limited supply for the property types EastGroup Properties develops and operates within their target Sunbelt markets.
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Here are the expected drivers of future revenue growth for EastGroup Properties (EGP) over the next 2-3 years:
- Strong Rental Rate Increases and Re-leasing Spreads: EastGroup Properties consistently achieves significant increases in rental rates on both new and renewal leases across its portfolio. For instance, quarterly re-leasing spreads reached a record of 62% GAAP and 43% cash in Q4 2023. In the first quarter of 2024, the average rent growth on new leases was 24% cash and 25% GAAP. Additionally, in Q3 2025, rental rates on new and renewal leases saw an average increase of 46.9% on a straight-line basis, directly contributing to future revenue and margin expansion. The company projects strong cash same-store net operating income (NOI) results for 2026, driven by anticipated rental rate increases on existing and budgeted leases.
- Strategic Development and Value-Add Acquisitions: The company's ongoing development and acquisition programs are key contributors to its revenue growth. EastGroup Properties focuses on owning premier distribution facilities, often clustered near major transportation hubs in supply-constrained submarkets. This strategy has led to continued outperformance, as highlighted by the success of its development and acquisition programs in Q4 2023. The company has a strong development pipeline, with $260 million in development starts expected in 2024, and actively acquires properties, such as Spanish Ridge in Las Vegas and entering the Raleigh market in Q1 2024. Analysts also emphasize that EastGroup is well-positioned to benefit from its sizable and permitted land bank and the attractive spread between development yields and acquisition capitalization rates.
- High Occupancy Rates and Tenant Retention: EastGroup Properties maintains consistently high occupancy rates and demonstrates strong tenant retention, ensuring a stable and growing revenue stream. The company reported a quarter-end occupancy of 98.2% in Q4 2023, up 50 basis points from the prior quarter, with its percent leased rising to 98.7%. In Q1 2024, the leasing rate was 98% with an occupancy rate of 97.7% and a tenant retention rate of 80% with high renewal rates. For Q4 2025, quarter-end leasing was 97% with occupancy at 96.5%. These high occupancy levels and successful tenant retention allow the company to capitalize on favorable re-leasing spreads and maintain a strong portfolio performance.
- Focus on High-Growth Sunbelt Markets: The company's strategic emphasis on industrial properties in major Sunbelt markets across the United States, including Florida, Texas, Arizona, California, and North Carolina, is a significant driver of future revenue growth. This focus allows EastGroup to benefit from sustained tenant demand and the robust economic activity in these regions. The strategy of targeting shallow-bay industrial properties in these high-growth markets consistently produces strong operating results, including high occupancy and robust rent spreads.
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Share Issuance
- EastGroup Properties announced a $1 billion at-the-market (ATM) equity and forward sale program as of March 2026.
- In June 2022, approximately 1.87 million shares were issued, valued at about $355.3 million, as part of the acquisition of Tulloch Corporation, an industrial real estate portfolio.
- The company experienced share dilution with an approximate 8% increase in share count in 2024 and weighted average diluted shares outstanding increasing by over 4 million in 2025.
Capital Expenditures
- For 2026, EastGroup Properties plans to initiate $250 million in new development starts and anticipates $160 million in operating property acquisitions.
- In 2025, the company acquired 739,000 square feet of operating properties for approximately $143.1 million and 300 acres of development land for approximately $118.6 million.
- Significant acquisitions in late 2024 included industrial properties in Phoenix for around $83 million, Dallas for approximately $76 million, and Atlanta for roughly $88 million.
Peer Outperformance in Industrial REITs
EGP has outperformed 100% of its 10 Industrial REITs peers over 5Y. Industrial REITs ranks 5th of 12 industries in Real Estate by median 5Y return.
Share of Industrial REITs constituents that EGP has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
83%
of 12 industry peers · 25.9% return
3Y
70%
of 10 industry peers · 33.0% return
5Y
100%
of 10 industry peers · 37.7% return
No Industrial REITs peer with a comparable growth profile has beaten EGP by more than 20pp over 5Y.
Median price return by industry across the Real Estate sector, ranked by 5Y. Industrial REITs is EGP's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 15 | 16.2% | 60.4% | 59.3% | WELL 213% · DHC 156% · CTRE 126% |
| Retail REITs | 22 | 8.7% | 39.4% | 30.6% | IVT 1490% · SKT 150% · SPG 100% |
| Real Estate Development | 6 | -16.8% | 22.6% | 19.1% | JOE 63% · AXR 49% · FOR 39% |
| Other Specialized REITs | 11 | 6.8% | 23.9% | 13.5% | IRM 204% · EPR 60% · LAMR 58% |
| Industrial REITs ← | 11 | 17.1% | 27.6% | 4.7% | EGP 38% · FR 32% · PLD 21% |
| Hotel & Resort REITs | 16 | 35.3% | 38.2% | 3.8% | HST 68% · RHP 64% · DRH 50% |
| Diversified REITs | 12 | 10.0% | 36.7% | -6.8% | CTO 72% · LXP 23% · WPC 20% |
| Single-Family Residential REITs | 4 | -3.7% | -0.1% | -17.8% | AMH -10% · ELS -15% · INVH -20% |
| Multi-Family Residential REITs | 13 | -3.7% | 6.9% | -22.0% | AIV 4% · ESS -1% · BRT -6% |
| Real Estate Services | 26 | -18.7% | -0.1% | -30.1% | REAX 783% · CHCI 289% · MLP 56% |
| Office REITs | 18 | -11.4% | 29.0% | -33.5% | PSTL 72% · CDP 52% · SLG -3% |
| Telecom Tower REITs | 3 | -12.8% | -11.6% | -47.6% | AMT -30% · SBAC -48% · CCI -52% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 63.62 |
| Mkt Cap | 8.2 |
| Rev LTM | 820 |
| Op Inc LTM | 324 |
| FCF LTM | 410 |
| FCF 3Y Avg | 383 |
| CFO LTM | 491 |
| CFO 3Y Avg | 451 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.0% |
| Rev Chg 3Y Avg | 10.2% |
| Rev Chg Q | 8.6% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Inc Chg LTM | 10.7% |
| Op Inc Chg 3Y Avg | 14.1% |
| Op Mgn LTM | 39.9% |
| Op Mgn 3Y Avg | 39.5% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 57.0% |
| CFO/Rev 3Y Avg | 56.6% |
| FCF/Rev LTM | 50.1% |
| FCF/Rev 3Y Avg | 51.1% |
Price Behavior
Price Behavior
| Market Price | $201.52 | |
| Market Cap ($ Bil) | 10.8 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -9.8% | |
| 50 Days | 200 Days | |
| DMA Price | $204.08 | $194.55 |
| DMA Trend | up | down |
| Distance from DMA | -1.3% | 3.6% |
| 3M | 1YR | |
| Volatility | 17.3% | 17.3% |
| Downside Capture | 5.48 | 8.71 |
| Upside Capture | -5.96 | 33.48 |
| Correlation (SPY) | 1.4% | 23.8% |
EGP Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.12 | -0.00 | 0.05 | 0.35 | 0.34 | 0.65 |
| Up Beta | -0.85 | -0.18 | 0.02 | 0.46 | 0.42 | 0.74 |
| Down Beta | -0.09 | 0.16 | 0.39 | 0.48 | 0.48 | 0.60 |
| Up Capture | -12% | -8% | -8% | 23% | 26% | 27% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 7 | 17 | 29 | 61 | 128 | 384 |
| Down Capture | 104% | 19% | -8% | 31% | 21% | 84% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 13 | 24 | 34 | 65 | 121 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EGP | |
|---|---|---|---|---|
| EGP | 26.4% | 17.3% | 1.18 | - |
| Sector ETF (XLRE) | 2.7% | 14.1% | -0.05 | 65.6% |
| Equity (SPY) | 17.7% | 13.0% | 0.98 | 23.4% |
| Gold (GLD) | 14.7% | 29.3% | 0.46 | 13.8% |
| Commodities (DBC) | 46.8% | 20.7% | 1.75 | -16.0% |
| Real Estate (VNQ) | 4.5% | 13.6% | 0.07 | 70.5% |
| Bitcoin (BTCUSD) | -25.5% | 44.8% | -0.53 | 8.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EGP | |
|---|---|---|---|---|
| EGP | 6.6% | 23.3% | 0.23 | - |
| Sector ETF (XLRE) | 1.0% | 19.1% | -0.05 | 79.5% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 57.2% |
| Gold (GLD) | 19.2% | 18.8% | 0.83 | 12.4% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | 7.2% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 81.1% |
| Bitcoin (BTCUSD) | 12.3% | 52.6% | 0.41 | 23.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EGP | |
|---|---|---|---|---|
| EGP | 14.4% | 26.3% | 0.54 | - |
| Sector ETF (XLRE) | 6.2% | 20.4% | 0.25 | 81.8% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 63.9% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 11.8% |
| Commodities (DBC) | 8.7% | 18.1% | 0.39 | 16.6% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 83.1% |
| Bitcoin (BTCUSD) | 63.9% | 66.2% | 1.04 | 16.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 8/24/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | -1.1% | -3.6% | -7.0% |
| 4/22/2026 | -0.2% | -1.4% | 2.1% |
| 2/4/2026 | 2.9% | 3.7% | 2.7% |
| 10/23/2025 | -1.3% | -2.1% | 0.2% |
| 7/23/2025 | -2.0% | -2.9% | -3.4% |
| 4/23/2025 | 1.5% | 1.8% | 3.4% |
| 2/6/2025 | 0.7% | 4.1% | 4.5% |
| 10/23/2024 | -1.5% | -3.9% | -6.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 12 |
| # Negative | 15 | 14 | 12 |
| Median Positive | 0.7% | 3.0% | 2.9% |
| Median Negative | -1.0% | -2.5% | -3.6% |
| Max Positive | 3.1% | 5.3% | 9.8% |
| Max Negative | -4.7% | -12.1% | -22.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | -1.1% | -3.6% | -7.0% |
| 4/22/2026 | -0.2% | -1.4% | 2.1% |
| 2/4/2026 | 2.9% | 3.7% | 2.7% |
| 10/23/2025 | -1.3% | -2.1% | 0.2% |
| 7/23/2025 | -2.0% | -2.9% | -3.4% |
| 4/23/2025 | 1.5% | 1.8% | 3.4% |
| 2/6/2025 | 0.7% | 4.1% | 4.5% |
| 10/23/2024 | -1.5% | -3.9% | -6.6% |
| 7/23/2024 | -2.4% | -1.2% | -2.8% |
| 4/23/2024 | -4.7% | -6.3% | -0.2% |
| 2/7/2024 | 3.1% | 2.3% | 1.0% |
| 10/24/2023 | 0.7% | 4.1% | 9.8% |
| 7/25/2023 | -0.4% | -5.2% | -3.2% |
| 4/25/2023 | -1.0% | 0.4% | -3.3% |
| 2/7/2023 | -0.9% | -1.5% | -5.6% |
| 10/25/2022 | 0.3% | 3.0% | 3.1% |
| 7/26/2022 | -1.1% | 2.4% | 2.1% |
| 4/26/2022 | -0.3% | -12.1% | -22.7% |
| 2/8/2022 | 2.2% | -3.0% | -3.7% |
| 10/26/2021 | 0.7% | 2.9% | 8.0% |
| 7/27/2021 | -0.2% | -0.8% | -2.8% |
| 4/27/2021 | 0.7% | -1.0% | 1.7% |
| 2/9/2021 | -0.2% | -1.8% | -4.0% |
| 10/27/2020 | -0.4% | 5.3% | 3.4% |
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 12 |
| # Negative | 15 | 14 | 12 |
| Median Positive | 0.7% | 3.0% | 2.9% |
| Median Negative | -1.0% | -2.5% | -3.6% |
| Max Positive | 3.1% | 5.3% | 9.8% |
| Max Negative | -4.7% | -12.1% | -22.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/22/2026 | 10-Q |
| 03/31/2026 | 04/22/2026 | 10-Q |
| 12/31/2025 | 02/11/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/23/2025 | 10-Q |
| 03/31/2025 | 04/23/2025 | 10-Q |
| 12/31/2024 | 02/12/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/15/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/22/2026 | 10-Q |
| 03/31/2026 | 04/22/2026 | 10-Q |
| 12/31/2025 | 02/11/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/23/2025 | 10-Q |
| 03/31/2025 | 04/23/2025 | 10-Q |
| 12/31/2024 | 02/12/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/15/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 02/16/2022 | 10-K |
| 09/30/2021 | 10/27/2021 | 10-Q |
| 06/30/2021 | 07/28/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/17/2021 | 10-K |
| 09/30/2020 | 10/28/2020 | 10-Q |
| 06/30/2020 | 07/29/2020 | 10-Q |
| 03/31/2020 | 05/04/2020 | 10-Q |
| 12/31/2019 | 02/13/2020 | 10-K |
| 09/30/2019 | 10/25/2019 | 10-Q |
Recent Forward Guidance
Updated 7/23/2026Latest: Q2 2026 Earnings Reported 7/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 FFO per share | Reported | 9.52 | 9.59 | 9.66 | 0.3% | Raised | Guidance: 9.56 for 2026 | |
| 2026 Development starts: Square feet | Reported | 2.20 Mil | ||||||
| 2026 Projected total investment | Reported | 325.00 Mil | ||||||
| 2026 Operating property acquisitions | Reported | 215.00 Mil | ||||||
| 2026 Operating property dispositions | Reported | 75.00 Mil | ||||||
| 2026 General and administrative expense | Reported | 26.70 Mil | 1.5% | Raised | Guidance: 26.30 Mil for 2026 | |||
| 2026 EPS | Reported | 5.83 | 5.9 | 5.97 | 2.4% | Raised | Guidance: 5.76 for 2026 | |
Prior: Q1 2026 Earnings Reported 4/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 FFO | Reported | 123.44 Mil | 125.59 Mil | 127.74 Mil | ||||
| Q2 2026 FFO per share | Reported | 2.3 | 2.34 | 2.38 | ||||
| Q2 2026 Net Income | Reported | 66.80 Mil | 68.95 Mil | 71.10 Mil | ||||
| Q2 2026 EPS | Reported | 1.24 | 1.28 | 1.32 | ||||
| 2026 FFO | Reported | 507.92 Mil | 513.30 Mil | 518.67 Mil | ||||
| 2026 FFO per share | Reported | 9.46 | 9.56 | 9.66 | 0.6% | Raised | Guidance: 9.5 for 2026 | |
| 2026 FFO per share increase over prior year | Reported | 0.07 | ||||||
| 2026 Same PNOI growth: cash basis | Reported | 5.7% | 6.2% | 6.7% | 0.1% | Raised | Guidance: 6.1% for 2026 | |
| 2026 General and administrative expense | Reported | 26.30 Mil | -2.6% | Lowered | Guidance: 27.00 Mil for 2026 | |||
| 2026 Net Income | Reported | 304.00 Mil | 309.37 Mil | 314.74 Mil | ||||
| 2026 EPS | Reported | 5.66 | 5.76 | 5.86 | 14.5% | Raised | Guidance: 5.03 for 2026 | |
Q4 2025 Earnings Reported 2/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 FFO per share | Reported | 2.25 | 2.29 | 2.33 | ||||
| 2026 FFO per share | Reported | 9.4 | 9.5 | 9.6 | 6.0% | Higher New | Actual: 8.96 for 2025 | |
| 2026 Same PNOI growth: cash basis | Reported | 5.6% | 6.1% | 6.6% | -0.6% | Lower New | Actual: 6.7% for 2025 | |
| 2026 Development starts: Square feet | Reported | 1.70 Mil | ||||||
| 2026 Development starts: Projected total investment | Reported | 250.00 Mil | ||||||
| 2026 Operating property acquisitions | Reported | 160.00 Mil | ||||||
| 2026 Operating property dispositions | Reported | 70.00 Mil | ||||||
| 2026 Gross capital proceeds | Reported | 300.00 Mil | ||||||
| 2026 General and administrative expense | Reported | 27.00 Mil | ||||||
| 2026 EPS | Reported | 4.93 | 5.03 | 5.13 | 3.3% | Higher New | Actual: 4.87 for 2025 | |
Q3 2025 Earnings Reported 10/23/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Funds from operations attributable to common stockholders | Reported | 122.51 Mil | 123.57 Mil | 124.62 Mil | ||||
| Q4 2025 Net income attributable to common stockholders | Reported | 66.61 Mil | 67.67 Mil | 68.72 Mil | ||||
| 2025 Funds from operations attributable to common stockholders | Reported | 471.93 Mil | 472.98 Mil | 474.04 Mil | ||||
| 2025 FFO per share | Reported | 8.94 | 8.96 | 8.98 | 0.0% | Affirmed | Guidance: 8.96 for 2025 | |
| 2025 Same PNOI growth: cash basis | Reported | 6.4% | 6.7% | 7.0% | 3.1% | 0.2% | Raised | Guidance: 6.5% for 2025 |
| 2025 Net income attributable to common stockholders | Reported | 256.28 Mil | 257.33 Mil | 258.39 Mil | ||||
| 2025 EPS | Reported | 4.85 | 4.87 | 4.89 | 0.8% | Raised | Guidance: 4.83 for 2025 | |
Investor Activity (13F)
Updated Sep 26, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Industrial REITs Resources |
| NAIOP |
| Industrial Property Journal |
| Commercial Property Executive - Industrial |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 9/25/2026