EastGroup Properties, Inc. (NYSE:EGP) Q4 2023 Earnings Conference Call February 8, 2024 11:00 AM ET Company Participants Marshall Loeb - President & Chief Executive Officer Keena Frazier - Director of Leasing Statistics Brent Wood - Chief Financial Officer Staci Tyler - Senior Vice President, Chief Accounting Officer & Chief Administrative Officer Conference Call Participants Craig Mailman - Citibank Jeff Spector - Bank of America Alexander Goldfarb - Piper Sandler Todd Thomas - KeyBanc Capital Markets Bill ...

EastGroup Properties (EGP) reported $149.15 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 14.9%. EPS of $2.03 for the same period compares to $0.89 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $149.33 million, representing a surprise of -0.12%. The company delivered an EPS surprise of +1.00%, with the consensus EPS estimate being $2.01.While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

EastGroup Properties (EGP) came out with quarterly funds from operations (FFO) of $2.03 per share, beating the Zacks Consensus Estimate of $2.01 per share. This compares to FFO of $1.82 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 1%. A quarter ago, it was expected that this real estate investment trust would post FFO of $1.93 per share when it actually produced FFO of $1.95, delivering a surprise of 1.04%.Over the last four qua ...

EastGroup Properties (EGP) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a changing ...

EastGroup Properties, Inc. (NYSE:EGP) Q3 2023 Earnings Conference Call October 25, 2023 11:00 AM ET Company Participants Marshall Loeb - President and Chief Executive Officer Keena Frazier - Director of Leasing Statistics Brent Wood - Chief Financial Officer Conference Call Participants Craig Mailman - Citigroup Inc. Jeffrey Spector - Bank of America Alexander Goldfarb - Piper Sandler Nick Thillman - Robert W. Baird & Co. Todd Thomas - KeyBanc Capital Markets Samir Khanal - Evercore ISI William Crow - Raymo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ Maryland 13-2711135 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 400 W Parkway Place Suite 100 Ridgeland, Mississippi 39157 (Address of principal executive offices) (Zip code) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPOR ...

Financial Data and Key Metrics Changes - Funds from operations (FFO) per share for Q2 2023 was $1.91, exceeding the upper end of guidance and up from $1.72 in the same quarter last year, representing a 10% increase year-over-year [91] - Cash same-store NOI increased by 6.4% for the quarter and 8.7% year-to-date [123] - Revised guidance for same-store growth midpoint increased to 7.3%, up 30 basis points from the previous quarter [5] Business Line Data and Key Metrics Changes - Average occupancy increased to 98.2% at quarter-end, up 30 basis points from March 31 [123] - Quarterly releasing spreads reached approximately 53% GAAP and 38% cash, pushing year-to-date spreads to 51% GAAP and 35% cash [123] Market Data and Key Metrics Changes - Strong rental rate growth observed in El Paso, with historical performance resembling California-like markets [1] - Industrial starts forecasted at $360 million for 2023, with a notable decrease in industrial starts due to capital market volatility and credit tightening [3] Company Strategy and Development Direction - The company is focusing on long-term positive trends in last-mile distribution and shallow-bay markets, particularly in sunbelt regions [6] - Increased stock issuance assumption from $180 million to $475 million, with $300 million already completed, reflecting a strategic approach to capital raising [4] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong demand in key markets and a favorable occupancy rate [6][81] - The company is closely monitoring demand and adjusting development starts accordingly, with a cautious approach due to current economic conditions [3][40] Other Important Information - The company has no variable rate debt other than revolver facilities, and its near-term maturity schedule is light, with only $50 million scheduled to mature through July 2024 [125] - The company is strategically opportunistic in pursuing core investment opportunities while focusing on development [124] Q&A Session Summary Question: How is the company thinking about new development starts given current construction costs and demand? - Management noted that while the market is not as frenetic as in previous years, they see strong demand and are encouraged by the tapering supply, which may lead to increased development opportunities [8][16] Question: What is holding back the company from pushing development starts higher? - Management indicated that they will adjust development starts based on market demand and leasing performance, remaining flexible to market conditions [40][60] Question: How have initial targeted yields for new development projects changed over time? - Management stated that the threshold for new developments has risen by about 100 basis points due to higher construction and financing costs, but market rents have kept yields consistent [43][44] Question: What are the current trends in the industrial market? - Management highlighted that while there is a slowdown in some areas, overall demand remains strong, particularly in markets like Texas and Florida, with a focus on last-mile delivery and on-shoring trends [55][112]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 1-07094 EASTGROUP PROPERTIES, INC. (Exact Name of Registrant as Specified in its Charter) Mar ...

EastGroup Properties, Inc. (NYSE:EGP) Q1 2023 Earnings Conference Call April 26, 2023 11:00 AM ET Company Participants Keena Frazier – Director-Leasing Statistics Marshall Loeb – President and Chief Executive Officer Brent Wood – Chief Financial Officer Conference Call Participants Bill Crow – Raymond James Craig Mailman – Citi Connor Mitchell – Piper Sandler Nick Thillman – Baird Jason Belcher – Wells Fargo Jessica Zheng – Green Street Jeff Spector – Bank of America Ki Bin Kim – Truist Todd Thomas – KeyBa ...

2023 FIRST QUARTER r | --- | --- | |--------------------------------------------------------------------------------------------------------------------------|-------| | | | | Real Estate Improvements and Leasing Costs ....................................................... 14 | | | Property Information: | | | Leasing Statistics and Occupancy Summary ......................................................... 15 | | | Core Market Operating Statistics ........................................................... ...