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REITs Set for a 2026 Rebound? 7 Top Picks as Rate Cuts ApproachEastGroup Properties NYSE: EGP reported a stronger-than-expected second quarter, with executives pointing to record leasing activity, resilient occupancy and rising development demand across its industrial portfolio.

Chief Executive Officer Marshall Loeb said the company’s second-quarter funds from operations were $2.36 per share, $0.02 above the midpoint of guidance and up 6.8% from the same quarter a year earlier. Year-to-date FFO per share increased 7.6%, continuing what Loeb described as a more than decade-long trend of quarterly FFO per share exceeding the prior-year quarter.

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After Earnings Results, Markets Love Prologis Stock “We had a strong quarter as well as first half of the year,” Loeb said, citing the quality of the company’s portfolio and strength in industrial markets.

Leasing Hits Quarterly Record President Reid Dunbar said signed leases totaled 3.9 million square feet during the second quarter, a new quarterly record for EastGroup. Development and first-generation leasing also reached a record, at nearly 1.1 million square feet.

Dunbar said customers are increasingly looking past geopolitical and macroeconomic uncertainty and focusing on longer-term space requirements. He said demand remains positive across EastGroup’s markets and that the company’s “high-quality infill portfolio” is positioned to generate organic growth.

At quarter-end, EastGroup’s portfolio was 96.8% leased and 95.6% occupied. Average quarterly occupancy was 95.6%, down 30 basis points from the second quarter of 2025. Same-store occupancy at quarter-end was 96.9%.

The company reported leasing spreads of 34% on a GAAP basis and 19% on a cash basis for leases signed during the quarter. Year-to-date leasing spreads were similar, at 35% GAAP and 19% cash. Cash same-store net operating income increased 8.3% for the quarter and 8.8% year to date.

Loeb also highlighted EastGroup’s tenant diversification, saying its top 10 tenants accounted for 6.6% of rents, down 30 basis points from last year. He said the company targets both geographic and tenant diversity as a way to stabilize earnings through different economic environments.

Guidance Raised on Same-Property Strength and Development Starts Chief Financial Officer Staci Tyler said second-quarter FFO outperformance was primarily driven by higher-than-projected same-property net operating income, largely due to higher occupancy than expected.

For the third quarter, EastGroup expects FFO of $2.37 to $2.45 per share, with a midpoint of $2.41. The company raised the midpoint of its full-year 2026 FFO guidance by $0.03 to $9.59 per share, representing a 6.8% increase over 2025 actual results.

EastGroup also raised several operating and investment assumptions:

Cash same-property NOI growth guidance was increased by 60 basis points to 6.8% for the year. Expected same-property occupancy was raised to 96.7%, 30 basis points above prior guidance. Average month-end portfolio occupancy guidance increased to 95.7%. Projected 2026 development starts were increased by $60 million to $325 million. Acquisition guidance was increased by $55 million to $215 million. Tyler said the company has started $123 million of development projects year to date and now assumes another $202 million of starts in the second half. She said the increase reflects strong development leasing year to date and the current leasing pipeline.

On the balance sheet, Tyler said EastGroup ended the quarter with no balance drawn on its unsecured bank credit facility, leaving $675 million of available capacity. Debt to total market capitalization was 12.9%, the annualized debt-to-EBITDA ratio was 3 times, and interest and fixed charge coverage was 15.1 times.

Development and Acquisitions Expand Dunbar said EastGroup transferred four development projects in Houston, Austin and Los Angeles to the operating portfolio during the quarter. The projects totaled 669,000 square feet and were 100% leased.

Subsequent to quarter-end, EastGroup acquired a 143,000-square-foot building in the southeast Phoenix submarket. In Austin, the company is under contract to acquire a five-building portfolio in the northeast submarket totaling 388,000 square feet.

Dunbar said development remains the company’s preferred external growth channel from a risk-adjusted return perspective. He said EastGroup has land holdings in more than 20 submarkets, giving it flexibility to pursue additional development if leasing activity continues.

Loeb said the acquisition market remains competitive, with strong private buyer interest in high-quality industrial properties. He said EastGroup has been a “strategic” acquirer rather than an opportunistic one, given the market conditions.

Data Centers, Texas and Infill Demand in Focus During the question-and-answer session, Loeb said data center-related tenants accounted for about 40% of first-quarter development leasing and 20% of second-quarter development leasing. He characterized the demand driver as early-stage and said EastGroup is leasing to suppliers serving data centers rather than building tenant-specific data center space.

Loeb said markets including Dallas, Phoenix and Atlanta have substantial planned data center capacity relative to current capacity, adding that EastGroup has land presence in markets where that demand may grow.

Executives also pointed to strength in Texas. Dunbar said Dallas and Houston were among EastGroup’s strongest markets at midyear. He said Texas demand is broader than energy and includes data center activity, population growth and corporate relocations.

Loeb said higher diesel prices have not affected leasing decisions in the short term. However, he said sustained higher transportation costs could make last-mile industrial locations more valuable over time, particularly in markets with heavy traffic and growing populations.

Executives Cite Consumer Demand as Key Risk Asked where weakness could emerge, Loeb said the company is most focused on the consumer. He said higher interest rates and fuel costs could pressure businesses and ultimately affect tenant demand or credit quality.

Chief Operating Officer Brent Wood said supply could typically be a concern in an improving market, but he said supply is currently “in check” across EastGroup’s markets, particularly in smaller, multi-tenant industrial buildings. He said the company has land, buildings and permits positioned to respond if demand continues to improve.

Loeb closed by saying market demand has been gaining momentum for several consecutive quarters. He said EastGroup’s goals remain driving FFO per share growth while improving portfolio quality, which he said should continue to create net asset value growth for shareholders.

About EastGroup Properties (NYSE:EGP)EastGroup Properties, Inc NYSE: EGP is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company's portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Quarter Highlights

Net Income Attributable to Common Stockholders of $1.40 Per Diluted Share for Second Quarter 2026 Compared to $1.20 Per Diluted Share for Second Quarter 2025 (Gains on Sales of Real Estate Investments were $5 Million, or $0.10 Per Diluted Share, in Second Quarter 2026; There Were No Sales in Second Quarter 2025) Funds from Operations ("FFO"), Excluding Gain on Involuntary Conversion and Business Interruption Claims, of $2.36 Per Diluted Share for Second Quarter 2026 Compared to $2.21 Per Diluted Share for Second Quarter 2025, an Increase of 6.8% Same Property Net Operating Income for the Same Property Pool, Excluding Income From Lease Terminations, Increased 6.2% on a Straight-Line Basis and 8.3% on a Cash Basis for Second Quarter 2026 Compared to the Same Period in 2025 Operating Portfolio was 96.8% Leased and 95.6% Occupied as of June 30, 2026; Average Month-End Occupancy of Operating Portfolio was 95.6% for Second Quarter 2026 as Compared to 95.9% for Second Quarter 2025 Rental Rates on New and Renewal Leases Increased an Average of 34.1% on a Straight-Line Basis Raised Approximately $160 Million Pursuant to the Company's Continuous Common Equity Offering Program at a Weighted Average Price of $203.15 Transferred Four Development Projects Containing 669,000 Square Feet which are 100% Leased to the Operating Portfolio Started Construction of Two Development Projects Located in Charlotte and Houston Totaling 347,000 Square Feet with Projected Total Costs of Approximately $39 Million Signed 16 Leases on Active Development and First Generation Development Properties From April 1, 2026 through July 21, 2026, Totaling Approximately 1,101,000 Square Feet Subsequent to Quarter-End, Acquired an Operating Property in Phoenix Containing 143,000 Square Feet for Approximately $28 Million and Under Contract to Acquire an Operating Property in Austin Containing Five Multi-Tenant Buildings Totaling 388,000 Square Feet for Approximately $83 Million , /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today the results of its operations for the three and six months ended June 30, 2026.

Commenting on EastGroup's performance, Marshall Loeb, CEO, stated, "The team and the portfolio have performed ahead of expectations this year. The leasing environment has 'normalized' compared to the protracted decision making we experienced much of last year. Looking beyond the current environment, I remain bullish on the continuing external trends benefitting our shallow bay, last mile, high-growth market portfolio."

Reid Dunbar, President, added, "Record leasing activity this quarter reflects the continued strength of demand across our markets and has enabled us to steadily increase our full-year development guidance, and we are now projecting $325 million of starts for 2026. As we have said before, our developments are pulled by market demand, and the leasing progress we are seeing today supports both near-term execution and long-term value creation."

EARNINGS PER SHARE

Three Months Ended June 30, 2026
On a diluted per share basis, earnings per common share ("EPS") were $1.40 for the three months ended June 30, 2026, compared to $1.20 for the same period of 2025. The increase in EPS was primarily due to the following:

The Company's property net operating income ("PNOI") was $142,916,000 ($2.66 per diluted share) for the three months ended June 30, 2026, as compared to $129,184,000 ($2.46 per diluted share) for the same period of 2025, which was an increase of $0.20 per diluted share. EastGroup recognized gains on sales of real estate investments of $5,189,000 ($0.10 per diluted share) during the three months ended June 30, 2026. There were no sales during the three months ended June 30, 2025. The increase in EPS was partially offset by the following:

Depreciation and amortization expense was $56,406,000 ($1.05 per diluted share) for the three months ended June 30, 2026, as compared to $53,012,000 ($1.01 per diluted share) for the same period of 2025, which was an increase of $0.04 per diluted share. General and administrative expense was $7,207,000 ($0.13 per diluted share) for the three months ended June 30, 2026, as compared to $5,290,000 ($0.10 per diluted share) for the same period of 2025, which was an increase of $0.03 per diluted share. Interest expense was $8,990,000 ($0.17 per diluted share) for the three months ended June 30, 2026, as compared to $7,690,000 ($0.15 per diluted share) for the same period of 2025, which was an increase of $0.02 per diluted share. Weighted average shares outstanding increased by 1,204,000 shares on a diluted basis for the three months ended June 30, 2026, as compared to the same period of 2025. Six Months Ended June 30, 2026
EPS for the six months ended June 30, 2026 were $3.17 per diluted share, as compared to $2.35 per diluted share for the same period of 2025. The increase in EPS was primarily due to the following:

PNOI was $282,936,000 ($5.27 per diluted share) for the six months ended June 30, 2026, as compared to $255,362,000 ($4.88 per diluted share) for the same period of 2025, which was an increase of $0.39 per diluted share. EastGroup recognized gains on sales of real estate investments of $30,074,000 ($0.56 per diluted share) during the six months ended June 30, 2026. There were no sales during the six months ended June 30, 2025. The increase in EPS was partially offset by the following:

Depreciation and amortization expense was $111,903,000 ($2.09 per diluted share) for the six months ended June 30, 2026, as compared to $105,532,000 ($2.02 per diluted share) for the same period of 2025, which was an increase of $0.07 per diluted share. Interest expense was $18,069,000 ($0.34 per diluted share) for the six months ended June 30, 2026, as compared to $15,715,000 ($0.30 per diluted share) for the same period of 2025, which was an increase of $0.04 per diluted share. General and administrative expense was $14,823,000 ($0.28 per diluted share) for the six months ended June 30, 2026, as compared to $13,244,000 ($0.25 per diluted share) for the same period of 2025, which was an increase of $0.03 per diluted share. Weighted average shares outstanding increased by 1,361,000 shares on a diluted basis for the six months ended June 30, 2026, as compared to the same period of 2025. FUNDS FROM OPERATIONS AND PROPERTY NET OPERATING INCOME

Three Months Ended June 30, 2026
For the three months ended June 30, 2026, funds from operations attributable to common stockholders ("FFO") and FFO, Excluding Gain on Involuntary Conversion and Business Interruption Claims, were $2.36 per diluted share compared to $2.21 per diluted share during the same period of 2025, an increase of 6.8%.

PNOI increased by $13,732,000, or 10.6%, during the three months ended June 30, 2026, compared to the same period of 2025. PNOI increased $7,644,000 due to same property operations (based on the same property pool), $3,561,000 due to newly developed and value-add properties, and $2,965,000 due to 2025 and 2026 acquisitions. PNOI decreased $671,000 due to operating properties sold in 2025 and 2026.

Same PNOI, Excluding Income from Lease Terminations, increased 6.2% on a straight-line basis for the three months ended June 30, 2026, compared to the same period of 2025; on a cash basis (excluding straight-line rent adjustments and amortization of above/below market rent intangibles), Same PNOI increased 8.3%. 

On a straight-line basis, rental rates on new and renewal leases signed during the three months ended June 30, 2026 (representing 4.5% of the operating portfolio's square footage) increased an average of 34.1%.

Six Months Ended June 30, 2026
FFO for the six months ended June 30, 2026, were $4.70 per diluted share compared to $4.37 per diluted share during the same period of 2025, an increase of 7.6%.

FFO, Excluding Gain on Involuntary Conversion and Business Interruption Claims, were $4.66 per diluted share for the six months ended June 30, 2026, compared to $4.33 per diluted share for the same period of 2025, an increase of 7.6%.

PNOI increased by $27,574,000, or 10.8%, during the six months ended June 30, 2026, compared to the same period of 2025. PNOI increased $16,434,000 due to same property operations (based on the same property pool), $6,264,000 due to newly developed and value-add properties, and $5,623,000 due to 2025 and 2026 acquisitions. PNOI decreased $1,043,000 due to operating properties sold in 2025 and 2026.

Same PNOI, Excluding Income from Lease Terminations, increased 6.8% on a straight-line basis for the six months ended June 30, 2026, compared to the same period of 2025; on a cash basis (excluding straight-line rent adjustments and amortization of above/below market rent intangibles), Same PNOI increased 8.8%. 

On a straight-line basis, rental rates on new and renewal leases signed during the six months ended June 30, 2026 (representing 7.8% of the operating portfolio's square footage) increased an average of 35.2%.

The same property pool for the three and six months ended June 30, 2026 includes properties which were included in the operating portfolio for the entire period from January 1, 2025 through June 30, 2026; this pool is comprised of properties containing 58,269,000 square feet.

FFO, FFO Excluding Gain on Involuntary Conversion and Business Interruption Claims, PNOI, and Same PNOI are non-GAAP financial measures, which are defined under Definitions later in this release. Reconciliations of Net Income to PNOI and Same PNOI, and Net Income Attributable to EastGroup Properties, Inc. Common Stockholders to FFO and FFO, Excluding Gain on Involuntary Conversion and Business Interruption Claims, are presented in the attached schedule "Reconciliations of GAAP to Non-GAAP Measures."

ACQUISITIONS AND DISPOSITIONS

Subsequent to June 30, 2026, EastGroup closed on the acquisition of Airgate in Phoenix for approximately $28,000,000. The industrial building contains 143,000 square feet, which is 100% leased to a single tenant. This acquisition expands the Company's portfolio in the Phoenix market to 3,661,000 square feet.

EastGroup is under contract to acquire a property in the Northeast submarket of Austin for approximately $83,000,000. The property includes five buildings containing 388,000 square feet, is currently 92% leased to nine tenants, and increases the Company's ownership in Austin to 2,273,000 square feet. The closing is expected to occur in the third quarter of 2026.

As previously announced, in April 2026, the Company closed on the disposition of Beach Commerce Center, a 46,000 square foot building in Jacksonville. The property was sold for $7,000,000 resulting in a gain of $5,189,000. Gains on sales of real estate investments are excluded from FFO.

Subsequent to quarter-end, the Company sold a 6.9 acre parcel of land in Miami for approximately $14,000,000. A gain of approximately $5,000,000 is expected to be recognized during the three months ended September 30, 2026; this gain will be excluded from FFO.

DEVELOPMENT AND VALUE-ADD PROPERTIES

During the second quarter of 2026, EastGroup began construction of two development projects containing 347,000 square feet located in Charlotte and Houston, with projected total costs of $39,200,000.

The development projects started during the six months ended June 30, 2026 are detailed in the table below: 

Development Projects Started During the Six Months Ended
June 30, 2026

Location

Size

Anticipated
Conversion Date

Projected Total
Costs

(Square feet)

(In thousands)

Country Club 5 Expansion (1)

Tucson, AZ

100,000

04/2027

$

10,600

Crossroads 3

Tampa, FL

156,000

10/2027

26,900

Grand West Crossing 3 & 4

Houston, TX

128,000

02/2028

18,900

Skyway 3

Charlotte, NC

156,000

03/2028

20,400

World Houston 48

Houston, TX

191,000

03/2028

18,800

Schertz Summit Park 1 & 2

San Antonio, TX

202,000

07/2028

27,700

   Total Development Projects Started

933,000

$

123,300

(1) 100% pre-leased expansion of an existing building that currently contains 305,000 square feet.

At June 30, 2026, EastGroup's development and value-add program consisted of 17 projects (3,175,000 square feet) in 12 markets. The projects, which were collectively 22% leased as of July 21, 2026, have a projected total cost of $486,800,000, of which $175,105,000 remained to be invested as of June 30, 2026.

During the second quarter of 2026, EastGroup transferred four projects to the operating portfolio (at the earlier of 90% occupancy or one year after completion). The projects, which are located in Houston, Austin and Los Angeles, contain 669,000 square feet and were collectively 100% leased as of July 21, 2026.

The development projects transferred to the operating portfolio during the six months ended June 30, 2026 are detailed in the table below:

Development and Value-Add Properties
Transferred to the Operating Portfolio During the
Six Months Ended June 30, 2026

Location

Size

Conversion Date

Cumulative Cost as
of 6/30/26

Percent Leased as
of 7/21/26

(Square feet)

(In thousands)

Denton 35 Exchange 1 & 2

Dallas, TX

244,000

02/20]26

$

33,194

100

%

Skyway 1 & 2

Charlotte, NC

318,000

03/2026

37,783

79

%

Grand West Crossing 2

Houston, TX

97,000

04/2026

11,183

100

%

Texas Avenue 1 & 2

Austin, TX

129,000

04/2026

21,770

100

%

World Houston 46

Houston, TX

181,000

04/2026

17,062

100

%

Dominguez (1)

Los Angeles, CA

262,000

06/2026

7,834

100

%

   Total Projects Transferred

1,231,000

$

128,826

95

%

Projected Stabilized Yield (2)

9.4 %

(1) Represents a redevelopment project.

(2) Weighted average yield based on projected stabilized annual property net operating income on a straight-line basis at 100% occupancy divided by projected total costs. The projected stabilized yield excluding the redevelopment project is 7.6%.

DIVIDENDS

EastGroup declared a cash dividend of $1.55 per share of common stock in the second quarter of 2026, which was paid on July 15, 2026. This was the Company's 186th consecutive quarterly cash distribution to shareholders. The Company has increased or maintained its dividend for 33 consecutive years and has increased it 30 years over that period, including increases in each of the last 14 years. The annualized dividend rate of $6.20 per share represents a dividend yield of 2.8% based on the closing stock price of $221.34 on July 21, 2026.

FINANCIAL STRENGTH AND FLEXIBILITY

EastGroup continues to maintain a strong and flexible balance sheet. Debt-to-total market capitalization was 12.9% at June 30, 2026. The Company's interest and fixed charge coverage ratio was 15.1x and 14.9x for the three and six months ended June 30, 2026, respectively. The Company's ratio of debt to earnings before interest, taxes, depreciation and amortization for real estate ("EBITDAre") was 3.0x for both the three and six months ended June 30, 2026. EBITDAre and the Company's interest and fixed charge coverage ratio are non-GAAP financial measures defined under Definitions later in this release. Refer to the schedule "Reconciliations of GAAP to Non-GAAP Measures" attached for the calculation of the Company's interest and fixed charge coverage ratio, the debt to EBITDAre ratio, and the reconciliation of Net Income to EBITDAre.

During the three months ended June 30, 2026, the Company entered into forward equity sale agreements with respect to 788,321 shares of common stock with an initial weighted average forward price of $203.15 per share and approximate gross sales proceeds of $160,144,000 based on the initial forward price. The Company did not receive any proceeds from the sale of common shares by the forward purchasers at the time it entered into forward equity sale agreements. As of July 21, 2026, EastGroup had 1,040,457 shares of common stock available for settlement prior to the expiration of the applicable settlement periods ranging from March to June 2027, for approximate net proceeds of $207,051,000, based on a weighted average forward price of $199.00 per share.

OUTLOOK FOR 2026

We now estimate EPS for 2026 to be in the range of $5.83 to $5.97 and FFO per share attributable to common stockholders for 2026 to be in the range of $9.52 to $9.66. The table below reconciles projected net income attributable to common stockholders to projected FFO. The Company is providing a projection of estimated net income attributable to common stockholders in order to meet the disclosure requirements of the U.S. Securities and Exchange Commission.

EastGroup's projections are based on management's current beliefs and assumptions about our business, the industry and the markets in which we operate; there are known and unknown risks and uncertainties associated with these projections. We assume no obligation to update publicly any forward-looking statements, including our Outlook for 2026, whether as a result of new information, future events or otherwise. Please refer to the "Forward-Looking Statements" disclosures included in this earnings release and "Risk Factors" disclosed in our annual and quarterly reports filed with the Securities and Exchange Commission for more information.

The following table presents the guidance range for 2026:

Low Range

High Range

Q3 2026

Y/E 2026

Q3 2026

Y/E 2026

(In thousands, except per share data)

Net income attributable to common stockholders

$

70,130

313,100

74,432

320,622

Depreciation and amortization

57,586

228,280

57,586

228,280

Gain on sales of real estate investments and non-operating
 real estate

—

(30,074)

—

(30,074)

Funds from operations attributable to common stockholders*

$

127,716

511,306

132,018

518,828

Weighted average shares outstanding — Diluted

53,786

53,726

53,786

53,726

Per share data (diluted):

   Net income attributable to common stockholders

$

1.30

5.83

1.38

5.97

   Funds from operations attributable to common stockholders

2.37

9.52

2.45

9.66

*This is a non-GAAP financial measure. Please refer to Definitions.

The following assumptions were used for the mid-point:

Metrics

Revised Guidance for
Year 2026

April Earnings Release
Guidance for Year
2026

Actual for Year 2025

FFO per share

$9.52 - $9.66

$9.46 - $9.66

$8.98

FFO per share increase over prior year

6.8 %

6.5 %

7.5 %

FFO per share, excluding gain on involuntary conversion and business
interruption claims

$9.48 - $9.62

$9.42 - $9.62

$8.95

FFO per share increase over prior year, excluding gain on involuntary
conversion and business interruption claims

6.7 %

6.4 %

7.7 %

Same PNOI growth: cash basis (1)

6.3% - 7.3% (2)

5.7% - 6.7% (2)

6.7 %

Average month-end occupancy — Operating portfolio

95.3% - 96.1%(3)

95.0% - 96.0%

95.9 %

Average month-end occupancy — Same property pool

96.3% - 97.1% (2)

95.9% - 96.9% (2)

96.5 %

Development starts:

   Square feet

2.2 million

1.8 million

1.4 million

   Projected total investment

$325 million

$265 million

$179 million

Operating property acquisitions

$215 million

$160 million

$143 million

Operating property dispositions

   (Potential gains on dispositions are not included in the projections)

$75 million

$75 million

$4 million

Gross capital proceeds (4)

$300 million

$300 million

$517 million

General and administrative expense

$26.7 million

$26.3 million

$24.0 million

(1) Excludes straight-line rent adjustments, amortization of market rent intangibles for acquired leases, and income from lease terminations.

(2) Includes properties which have been in the operating portfolio since 1/1/25 and are projected to be in the operating portfolio through 12/31/26; includes 58,047,000 square feet.

(3) Represents estimated average month-end occupancy from January-December 2026. Average month-end occupancy for July-September 2026 is estimated to be between 95.2%-96.0%.

(4) Gross capital proceeds includes proceeds raised from external sources, such as new long-term debt or equity issuances; excludes borrowings on unsecured bank credit facilities.

DEFINITIONS

Net income is used by the Company's management as the primary measure of operating results in making decisions. Investor and industry analysts primarily utilize two supplemental operating performance measures in analyzing operating results, which include: (1) funds from operations attributable to common stockholders ("FFO"), including FFO as adjusted as described below, and (2) property net operating income ("PNOI"), as defined below.  

FFO is computed in accordance with standards established by the National Association of Real Estate Investment Trusts, Inc. ("Nareit").  Nareit's guidance allows preparers an option as it pertains to whether gains or losses on sale, or impairment charges, on real estate assets incidental to a real estate investment trust's ("REIT's") business are excluded from the calculation of FFO. EastGroup has made the election to exclude activity related to such assets that are incidental to our business. FFO is calculated as net income (loss) attributable to common stockholders computed in accordance with U.S. generally accepted accounting principles ("GAAP"), excluding gains and losses from sales of real estate property (including other assets incidental to the Company's business) and impairment losses, adjusted for real estate related depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.

FFO, Excluding Gain on Involuntary Conversion and Business Interruption Claims, is calculated as FFO (as defined above), adjusted to exclude gains on involuntary conversion and business interruption claims. The Company believes that this exclusion presents a more meaningful comparison of operating performance across periods.

PNOI is defined as Income from real estate operations less Expenses from real estate operations (including market-based internal management fee expense) plus the Company's share of income and property operating expenses from its less-than-wholly-owned real estate investments. EastGroup sometimes refers to PNOI from Same Properties as "Same PNOI" in this press release and the accompanying reconciliation; the Company also presents Same PNOI Excluding Income from Lease Terminations. The Company presents Same PNOI and Same PNOI, Excluding Income from Lease Terminations, as a property-level supplemental measure of performance used to evaluate the performance of the Company's investments in real estate assets and its operating results on a same property basis. The Company believes it is useful to evaluate Same PNOI, Excluding Income from Lease Terminations, on both a straight-line and cash basis. The straight-line basis is calculated by averaging the customers' rent payments over the lives of the leases; GAAP requires the recognition of rental income on a straight-line basis. The cash basis excludes adjustments for straight-line rent and amortization of market rent intangibles for acquired leases; cash basis is an indicator of the rents charged to customers by the Company during the periods presented and is useful in analyzing the embedded rent growth in the Company's portfolio. "Same Properties" is defined as operating properties owned during the entire current period and prior year reporting period. Operating properties are stabilized real estate properties (land including building and improvements) that make up the Company's operating portfolio. Properties developed or acquired are excluded from the same property pool until held in the operating portfolio for both the current and prior year reporting periods. Properties sold during the current or prior year reporting periods are also excluded. A key component of the change in PNOI is the rental rate change on new and renewal leases. The Company calculates rental rate changes on new and renewal leases on a cash basis and straight-line basis. The cash basis rental changes are calculated as the difference, weighted by square feet, of the annualized base rent due the first month of the new lease's term and the annualized base rent of the rent due the last month of the former lease's term, for leases signed during the reporting period. If free rent, discounts, or premiums are in the lease terms, then the first full rent value is used. The straight-line basis rental changes are calculated as the difference, weighted by square feet, of the average rent over the life of the new lease and the average rent over the life of the former lease, for leases signed during the reporting period. Rent amounts exclude amortization of market rent intangibles for acquired leases, hold over rent, and base stop amounts. These calculations exclude leases with terms of less than 12 months and leases for first generation space on properties acquired or developed by EastGroup.

FFO and PNOI are supplemental industry reporting measurements used to evaluate the performance of the Company's investments in real estate assets and its operating results. The Company believes that the exclusion of depreciation and amortization in the industry's calculations of PNOI and FFO provides supplemental indicators of the properties' performance since real estate values have historically risen or fallen with market conditions. PNOI and FFO as calculated by the Company may not be comparable to similarly titled but differently calculated measures for other REITs. Investors should be aware that items excluded from or added back to FFO are significant components in understanding and assessing the Company's financial performance.

Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate ("EBITDAre") is also used by the Company's management as a key performance measure. EBITDAre is computed in accordance with standards established by Nareit and defined as Net Income, adjusted for gains and losses from sales of real estate investments, non-operating real estate and other assets incidental to the Company's business, interest expense, income tax expense, depreciation and amortization. EBITDAre is a non-GAAP financial measure used by the Company's management to measure the Company's operating performance and its ability to meet interest payment obligations and pay quarterly stock dividends on an unleveraged basis.

Debt-to-EBITDAre ratio is a non-GAAP financial measure calculated by dividing the Company's debt by its EBITDAre, and is used by the Company's management in analyzing the financial condition and operating performance of the Company relative to its leverage.

The Company's interest and fixed charge coverage ratio is a non-GAAP financial measure calculated by dividing the Company's EBITDAre by its interest expense. The Company believes this ratio is useful to investors because it provides a basis for analysis of the Company's leverage, operating performance and its ability to service the interest payments due on its debt.

CONFERENCE CALL

EastGroup will host a conference call and webcast to discuss the results of its second quarter, review the Company's current operations, and present its earnings outlook for 2026 on Thursday, July 23, 2026, at 10:00 a.m. Eastern Time. A live broadcast of the conference call is available by dialing 1-800-836-8184 (conference ID EastGroup) or by webcast through a link on the Company's website at www.eastgroup.net. If you are unable to listen to the live conference call, a telephone and webcast replay will be available on Thursday, July 23, 2026. The telephone replay will be available through Thursday, July 30, 2026, and can be accessed by dialing 1-888-660-6345 (access code 27874#). The webcast replay can be accessed through a link on the Company's website at www.eastgroup.net. 

SUPPLEMENTAL INFORMATION

Supplemental financial information is available under Quarterly Results in the Investor Relations section of the Company's website at www.eastgroup.net. 

COMPANY INFORMATION

EastGroup Properties, Inc. (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in high-growth markets throughout the United States with an emphasis in the states of Texas, Florida, California, Arizona 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 20,000 to 100,000 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 65.8 million square feet. EastGroup Properties, Inc. press releases are available at www.eastgroup.net. 

The Company announces information about the Company and its business to investors and the public using the Company's website (eastgroup.net), including the investor relations website (investor.eastgroup.net), filings with the Securities and Exchange Commission, press releases, public conference calls, and webcasts. The Company also uses social media to communicate with its investors and the public. While not all the information that the Company posts to the Company's website or on the Company's social media channels is of a material nature, some information could be deemed to be material. Therefore, the Company encourages investors, the media, and others interested in the Company to review the information that it posts on the social media channels, including Facebook (facebook.com/eastgroupproperties), LinkedIn (linkedin.com/company/eastgroup-properties-inc), and X (X.com/eastgroupprop). The list of social media channels that the Company uses may be updated on its investor relations website from time to time. The information contained on, or that may be accessed through, our website or any of our social media channels is not incorporated by reference into, and is not a part of, this document.

FORWARD-LOOKING STATEMENTS

The statements and certain other information contained in this press release, which can be identified by the use of forward-looking terminology such as "may," "will," "seek," "expects," "anticipates," "believes," "targets," "intends," "should," "estimates," "could," "continue," "assume," "projects," "goals," "plans" or variations of such words and similar expressions or the negative of such words, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These forward-looking statements reflect the Company's current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the Company and on assumptions it has made. For instance, the amount, timing and frequency of future dividends is subject to authorization by the Company's Board of Directors and will be based upon a variety of factors. Although the Company believes that its plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that such plans, intentions, expectations or strategies will be attained or achieved. Furthermore, these forward-looking statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties could cause actual results to differ materially from those projected. These uncertainties include, but are not limited to:

international, national, regional and local economic conditions and conflicts; the competitive environment in which the Company operates; fluctuations of occupancy or rental rates; potential defaults (including bankruptcies or insolvency) on or non-renewal of leases by tenants, or our ability to lease space at current or anticipated rents, particularly in light of the ongoing uncertainty around interest rates, tariffs and general economic conditions; disruption in supply and delivery chains; increased construction and development costs, including as a result of tariffs or the recent inflationary environment; acquisition and development risks, including failure of such acquisitions and development projects to perform in accordance with our projections or to materialize at all; potential changes in the law or governmental regulations and interpretations of those laws and regulations, including changes in real estate laws, real estate investment trust ("REIT") or corporate income tax laws, potential changes in zoning laws, or increases in real property tax rates, and any related increased cost of compliance; our ability to maintain our qualification as a REIT; natural disasters such as fires, floods, tornadoes, hurricanes, earthquakes or other extreme weather events, which may or may not be directly caused by longer-term shifts in climate patterns, could destroy buildings and damage regional economies; the availability of financing and capital, increases in or long-term elevated interest rates, and our ability to raise equity capital on attractive terms; financing risks, including the risks that our cash flows from operations may be insufficient to meet required payments of principal and interest, and we may be unable to refinance our existing debt upon maturity or obtain new financing on attractive terms or at all; our ability to retain our credit agency ratings; our ability to comply with applicable financial covenants; credit risk in the event of non-performance by the counterparties to our interest rate swaps; how and when pending forward equity sales may settle; lack of or insufficient amounts of insurance; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; our ability to attract and retain key personnel or lack of adequate succession planning; risks related to the failure, inadequacy or interruption of our data security systems and processes, including security breaches through cyber attacks; pandemics, epidemics or other public health emergencies, such as the coronavirus pandemic; potentially catastrophic events, such as acts of war, civil unrest and terrorism, including escalation or expansion of the war in the Middle East; and environmental liabilities, including costs, fines or penalties that may be incurred due to necessary remediation of contamination of properties presently owned or previously owned by us. All forward-looking statements should be read in light of the risks identified in Part I, Item 1A. Risk Factors within the Company's most recent Annual Report on Form 10-K, as such factors may be updated from time to time in the Company's periodic filings and current reports filed with the SEC.

The Company assumes no obligation to update publicly any forward-looking statements, including its Outlook for 2026, whether as a result of new information, future events or otherwise.

CONTACT

[email protected]

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

REVENUES

Income from real estate operations

$

193,292

177,256

383,526

349,900

Other revenue

39

30

61

1,835

193,331

177,286

383,587

351,735

EXPENSES

Expenses from real estate operations

50,684

48,363

101,207

95,123

Depreciation and amortization

56,406

53,012

111,903

105,532

General and administrative

7,207

5,290

14,823

13,244

Indirect leasing costs

231

171

456

434

114,528

106,836

228,389

214,333

OTHER INCOME (EXPENSE)

Interest expense

(8,990)

(7,690)

(18,069)

(15,715)

Gain on sales of real estate investments

5,189

—

30,074

—

Other income

521

553

2,944

1,063

NET INCOME

75,523

63,313

170,147

122,750

Net income attributable to noncontrolling interest in joint ventures

—

(14)

—

(28)

NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS

75,523

63,299

170,147

122,722

Other comprehensive income (loss) — Interest rate swaps

3,426

(4,136)

5,405

(11,063)

TOTAL COMPREHENSIVE INCOME

$

78,949

59,163

175,552

111,659

BASIC PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP
PROPERTIES, INC. COMMON STOCKHOLDERS

Net income attributable to common stockholders

$

1.41

1.21

3.18

2.35

Weighted average shares outstanding — Basic

53,672

52,508

53,562

52,237

DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP
PROPERTIES, INC. COMMON STOCKHOLDERS

Net income attributable to common stockholders

$

1.40

1.20

3.17

2.35

Weighted average shares outstanding — Diluted

53,783

52,579

53,665

52,304

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIES

RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON
STOCKHOLDERS

$

75,523

63,299

170,147

122,722

Depreciation and amortization

56,406

53,012

111,903

105,532

Company's share of depreciation from unconsolidated investment

31

31

62

62

Depreciation and amortization attributable to noncontrolling interest

—

(1)

(1)

(2)

Gain on sales of real estate investments

(5,189)

—

(30,074)

—

FUNDS FROM OPERATIONS ("FFO") ATTRIBUTABLE TO COMMON STOCKHOLDERS*

126,771

116,341

252,037

228,314

Gain on involuntary conversion and business interruption claims

—

—

(1,950)

(1,763)

FFO ATTRIBUTABLE TO COMMON STOCKHOLDERS, EXCLUDING GAIN ON
INVOLUNTARY CONVERSION AND BUSINESS INTERRUPTION CLAIMS*

$

126,771

116,341

250,087

226,551

NET INCOME

$

75,523

63,313

170,147

122,750

Interest expense (1)

8,990

7,690

18,069

15,715

Depreciation and amortization

56,406

53,012

111,903

105,532

Company's share of depreciation from unconsolidated investment

31

31

62

62

EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION ("EBITDA")

140,950

124,046

300,181

244,059

Gain on sales of real estate investments

(5,189)

—

(30,074)

—

EBITDA FOR REAL ESTATE ("EBITDAre")*

$

135,761

124,046

270,107

244,059

Debt

$

1,609,488

1,454,379

1,609,488

1,454,379

Debt-to-EBITDAre ratio*

3.0

2.9

3.0

3.0

EBITDAre*

$

135,761

124,046

270,107

244,059

Interest expense (1)

8,990

7,690

18,069

15,715

Interest and fixed charge coverage ratio*

15.1

16.1

14.9

15.5

DILUTED PER COMMON SHARE DATA FOR EASTGROUP PROPERTIES, INC. COMMON
STOCKHOLDERS

Net income attributable to common stockholders

$

1.40

1.20

3.17

2.35

FFO attributable to common stockholders*

$

2.36

2.21

4.70

4.37

FFO attributable to common stockholders, excluding gain on involuntary conversion and business
interruption claims*

$

2.36

2.21

4.66

4.33

Weighted average shares outstanding for EPS and FFO purposes — Diluted

53,783

52,579

53,665

52,304

(1) Net of capitalized interest of $5,649 and $5,340 for the three months ended June 30, 2026 and 2025, respectively; and $11,572 and $10,500 for the six months ended June 30, 2026 and 2025, respectively.

*This is a non-GAAP financial measure. Please refer to Definitions.

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIES

RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES (Continued)

(IN THOUSANDS)

(UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

NET INCOME

$

75,523

63,313

170,147

122,750

Gain on sales of real estate investments

(5,189)

—

(30,074)

—

Gain on involuntary conversion and business interruption claims

—

—

(1,950)

(1,763)

Interest income

(244)

(277)

(439)

(509)

Other

(39)

(30)

(61)

(72)

Indirect leasing costs

231

171

456

434

Depreciation and amortization

56,406

53,012

111,903

105,532

Company's share of depreciation from unconsolidated investment

31

31

62

62

Interest expense (1)

8,990

7,690

18,069

15,715

General and administrative expense (2)

7,207

5,290

14,823

13,244

Noncontrolling interest in PNOI of consolidated joint ventures

—

(16)

—

(31)

PROPERTY NET OPERATING INCOME ("PNOI")*

142,916

129,184

282,936

255,362

PNOI from 2025 and 2026 acquisitions

(2,965)

—

(5,623)

—

PNOI from 2025 and 2026 development and value-add properties

(6,138)

(2,577)

(10,625)

(4,361)

PNOI from 2025 and 2026 operating property dispositions

(5)

(676)

(363)

(1,406)

Other PNOI

222

455

417

713

SAME PNOI (Straight-Line Basis)*

134,030

126,386

266,742

250,308

Lease termination fee income from same properties

(52)

(193)

(95)

(732)

SAME PNOI, EXCLUDING INCOME FROM LEASE TERMINATIONS (Straight-Line Basis)*

133,978

126,193

266,647

249,576

Straight-line rent adjustments for same properties

(1,274)

(3,391)

(2,813)

(6,386)

Acquired leases — Market rent adjustment amortization for same properties

(1,323)

(1,520)

(2,692)

(3,087)

SAME PNOI, EXCLUDING INCOME FROM LEASE TERMINATIONS (Cash Basis)*

$

131,381

121,282

261,142

240,103

(1) Net of capitalized interest of $5,649 and $5,340 for the three months ended June 30, 2026 and 2025, respectively; and $11,572 and $10,500 for the six months ended June 30, 2026 and 2025, respectively.

(2) Net of capitalized development costs of $1,785 and $1,717 for the three months ended June 30, 2026 and 2025, respectively; and $4,124 and $3,671 for the six months ended June 30, 2026 and 2025, respectively.

*This is a non-GAAP financial measure. Please refer to Definitions.

SOURCE EastGroup Properties

Posted by Defense World Staff on Apr 8th, 2026

Shares of EastGroup Properties, Inc. (NYSE:EGP – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $200.1765.

EGP has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price on the stock. in a research note on Monday, January 5th. Citigroup upped their target price on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Truist Financial boosted their price target on shares of EastGroup Properties from $203.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Cantor Fitzgerald boosted their price target on shares of EastGroup Properties from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, Royal Bank Of Canada boosted their price target on shares of EastGroup Properties from $183.00 to $195.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 18th.

Check Out Our Latest Report on EastGroup Properties

Hedge Funds Weigh In On EastGroup Properties Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC boosted its position in EastGroup Properties by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock valued at $9,284,000 after buying an additional 7,212 shares in the last quarter. Principal Financial Group Inc. boosted its position in EastGroup Properties by 43.5% in the third quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock valued at $336,076,000 after buying an additional 602,253 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of EastGroup Properties by 13.4% during the third quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock worth $13,912,000 after purchasing an additional 9,776 shares in the last quarter. Citigroup Inc. lifted its position in shares of EastGroup Properties by 38.3% during the third quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock worth $10,403,000 after purchasing an additional 17,009 shares in the last quarter. Finally, APG Asset Management US Inc. lifted its position in shares of EastGroup Properties by 11.9% during the third quarter. APG Asset Management US Inc. now owns 300,159 shares of the real estate investment trust’s stock worth $51,660,000 after purchasing an additional 31,805 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance NYSE EGP opened at $189.58 on Wednesday. The stock has a market cap of $10.11 billion, a P/E ratio of 38.93, a PEG ratio of 3.07 and a beta of 1.09. The company’s 50-day simple moving average is $188.36 and its 200 day simple moving average is $181.75. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $197.95. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47.

EastGroup Properties Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $1.55 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.3%. EastGroup Properties’s payout ratio is 127.31%.

About EastGroup Properties (Get Free Report)

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.

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Posted by Defense World Staff on Apr 22nd, 2026

EastGroup Properties, Inc. (NYSE:EGP – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $203.60 and last traded at $202.0080, with a volume of 406866 shares trading hands. The stock had previously closed at $203.11.

Analyst Ratings Changes A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Royal Bank Of Canada upped their price target on shares of EastGroup Properties from $183.00 to $195.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 18th. Citigroup upped their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Robert W. Baird set a $203.00 price objective on shares of EastGroup Properties in a report on Wednesday, February 11th. Finally, Piper Sandler upped their price objective on shares of EastGroup Properties from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.76.

Read Our Latest Analysis on EGP

EastGroup Properties Price Performance The firm’s fifty day moving average price is $190.80 and its 200 day moving average price is $183.71. The firm has a market capitalization of $10.86 billion, a PE ratio of 41.48, a P/E/G ratio of 3.31 and a beta of 1.09. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.47.

EastGroup Properties Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 31st. EastGroup Properties’s dividend payout ratio is 127.31%.

Institutional Trading of EastGroup Properties Hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in EastGroup Properties by 159.7% during the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 99 shares in the last quarter. State of Wyoming purchased a new stake in EastGroup Properties during the second quarter worth $27,000. MAI Capital Management boosted its holdings in EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 82 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in EastGroup Properties during the third quarter worth $34,000. Finally, Mather Group LLC. purchased a new stake in EastGroup Properties during the third quarter worth $35,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Company Profile (Get Free Report)

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.

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EastGroup Properties (EGP - Free Report) came out with quarterly funds from operations (FFO) of $2.34 per share, beating the Zacks Consensus Estimate of $2.29 per share. This compares to FFO of $2.12 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +2.18%. A quarter ago, it was expected that this real estate investment trust would post FFO of $2.33 per share when it actually produced FFO of $2.34, delivering a surprise of +0.43%.

Over the last four quarters, the company has surpassed consensus FFO estimates three times.

EastGroup Properties, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $190.26 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.4%. This compares to year-ago revenues of $174.45 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

EastGroup Properties shares have added about 13.3% since the beginning of the year versus the S&P 500's gain of 3.2%.

What's Next for EastGroup Properties?While EastGroup Properties has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for EastGroup Properties was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $2.39 on $194.12 million in revenues for the coming quarter and $9.54 on $782.25 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Digital Realty Trust (DLR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on April 23.

This real estate investment trust is expected to post quarterly earnings of $1.94 per share in its upcoming report, which represents a year-over-year change of +9.6%. The consensus EPS estimate for the quarter has been revised 0.1% higher over the last 30 days to the current level.

Digital Realty Trust's revenues are expected to be $1.61 billion, up 14.3% from the year-ago quarter.

Industrial REITs, led by Prologis and EastGroup, offer durable moats, strong balance sheets, and resilient growth amid evolving supply chain dynamics. PLD and EGP delivered robust Q1 results, raising full-year guidance and reinforcing their sector leadership; PLD is attractive on pullback, and EGP offers steady 12–15% return potential. REXR presents a value opportunity through asset recycling and share repurchases but faces higher regulatory and political risk due to its California concentration.

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

EastGroup Properties (EGP - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

Here are three of the most important factors that make the stock of this real estate investment trust a great growth pick right now.

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for EastGroup Properties is 10.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 6.4% this year, crushing the industry average, which calls for EPS growth of 3.1%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for EastGroup Properties is 13.7%, which is higher than many of its peers. In fact, the rate compares to the industry average of 3.4%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 16.1% over the past 3-5 years versus the industry average of 9%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for EastGroup Properties. The Zacks Consensus Estimate for the current year has surged 0.6% over the past month.

Bottom LineEastGroup Properties has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination positions EastGroup Properties well for outperformance, so growth investors may want to bet on it.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company" or "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.55 per share payable on July 15, 2026, to shareholders of record of Common Stock on June 30, 2026. This dividend is the 186th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $6.20 per share. EastGroup has increased or maintained its dividend for 33 consecutive years. The Company has increased it 30 years over that period, including increases in each of the last 14 years.

About EastGroup Properties, Inc.
EastGroup, a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in high-growth markets throughout the United States with an emphasis in the states of Texas, Florida, California, Arizona 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 20,000 to 100,000 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 65.5 million square feet.

EastGroup Properties, Inc. press releases are available at www.eastgroup.net.

Contact: [email protected]

SOURCE EastGroup Properties

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On June 01, 2026, EastGroup Properties Inc (EGP) shares fell 3.5% to $194.83, continuing a downward trend observed over the past week and month. The stock has f

EastGroup Properties and Realty Income faced similar cost of capital challenges post-2022 but adopted sharply contrasting strategies. O maintained aggressive acquisition targets, pivoting to private funds and new asset classes to sustain volume despite diminished spreads and flat FFO/share growth. EGP exercised discipline, pausing acquisitions when spreads disappeared, focusing on development and organic growth to drive superior FFO/share performance.