Company Overview - EastGroup Properties focuses on industrial properties in high-growth US markets, particularly Florida, Texas, Arizona, California, and North Carolina[8] - The company targets functional, flexible business distribution space, primarily in the 20,000 to 100,000 square foot range[8] - EastGroup's portfolio includes approximately 63.9 million square feet, including development projects and value-add acquisitions[8] Market and Property Focus - EastGroup's markets are growing faster than the US average, with a 5-year GDP growth rate 58% greater than the US average from 2020-2024[18] - The company emphasizes multi-tenant, infill sites in supply-constrained submarkets, focusing on last-mile e-commerce locations and shallow bay industrial properties[23] - 75% of revenue is generated from tenants that lease under 100,000 square feet[36] Geographic Allocation - Texas accounts for 35% of the company's annualized base rent[20] - Florida accounts for 25% of the company's annualized base rent[20] - California accounts for 16% of the company's annualized base rent[20] - Arizona accounts for 8% of the company's annualized base rent[20] - North Carolina accounts for 5% of the company's annualized base rent[20] Financial Performance - As of June 30, 2025, the company's capitalization includes $8.82 billion in shareholders' market equity, representing 86% of the total[62] - Fixed-rate debt is $1.5 billion with an average rate of 3.38%, representing 14% of the total capitalization[62] - Leased percentage at June 30, 2025 was 97.1%[60]

Company Profile & Strategy - EastGroup Properties focuses on multi-tenant urban distribution properties in major Sunbelt markets[8, 12] - The company employs a three-pronged growth strategy: targeted development/redevelopment, recycling of capital, and internal growth[8, 24] - The company targets location-sensitive customers, competing on location rather than rent, primarily serving users requiring 15,000 to 50,000 square feet[20] Property Portfolio - As of December 31, 2018, the company owned 42 million square feet of industrial space[16] - Business distribution properties account for 88% of the portfolio, with bulk distribution at 9% and business service at 3%[23] - Development History: Since 1996, the company has developed 199 properties comprising 192 million square feet, representing a $15 billion investment, which accounts for 46% of the portfolio[35] Financial Performance & Capitalization - For the year ended December 31, 2018, same-property net operating income increased by 38%[44] - FFO per share increased by 96% for the year ended December 31, 2018[44] - As of December 31, 2018, shareholders' market equity was $335 billion, representing 75% of the capitalization, with variable-rate debt at $196 million (4%) and fixed-rate debt at $914 million (21%), with an average rate of 37%[46] Dividend & Returns - The company has declared 156 consecutive quarterly cash dividends, currently at $072 per share[47] - The company has increased or maintained its dividend for 26 consecutive years, increasing it in 23 of the past 26 years[47] - The dividend FFO payout ratio for 2018 was 65%[49]

Table of Contents Conference Call 800-836-8184 | ID – EastGroup July 24, 2024 11:00 a.m. Eastern Time webcast available at EastGroup.net 400 West Parkway Place, Suite 100 Ridgeland, MS 39157 TEL: 601-354-3555 | FAX: 601-352-1441 Page 1 of 24 Financial Information: Development and Value-Add Properties Transferred to Real Estate Properties ..... 12 Real Estate Improvements and Leasing Costs ........................................................ 14 | --- | --- | |--------------------------------------------- ...

Core Viewpoint - EastGroup Properties, Inc. is set to hold its Second Quarter 2025 Earnings Conference Call on July 24, 2025, to discuss its financial results and outlook for the year [1][2]. Company Overview - EastGroup Properties, Inc. is a self-administered equity real estate investment trust (REIT) focused on the development, acquisition, and operation of industrial properties in high-growth markets across the United States, particularly in Texas, Florida, California, Arizona, and North Carolina [4]. - The company aims to maximize shareholder value by providing functional, flexible, and quality business distribution space for location-sensitive customers, primarily in the 20,000 to 100,000 square foot range [4]. - EastGroup's growth strategy is centered on owning premier distribution facilities located near major transportation features in supply-constrained submarkets [4]. - The company's portfolio, including development projects and value-add acquisitions, currently encompasses approximately 63.6 million square feet [4].

Core Insights - Investors are considering Alpine Income (PINE) and EastGroup Properties (EGP) for potential value opportunities in the REIT and Equity Trust - Other sector [1] Valuation Metrics - Alpine Income has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while EastGroup Properties has a Zacks Rank of 3 (Hold) [3] - PINE has a forward P/E ratio of 8.47, significantly lower than EGP's forward P/E of 18.81 [5] - The PEG ratio for PINE is 1.41, while EGP's PEG ratio is 3.70, suggesting PINE is more favorably valued in terms of expected EPS growth [5] - PINE's P/B ratio is 0.8, compared to EGP's P/B of 2.63, indicating PINE is undervalued relative to its book value [6] - Based on these metrics, PINE has a Value grade of B, while EGP has a Value grade of F, highlighting PINE's superior valuation [6] Conclusion - PINE is positioned as the better value option due to its solid earnings outlook and favorable valuation metrics compared to EGP [7]

Core Viewpoint - Many companies pay dividends, but not all are suitable for generating reliable passive income due to volatile cash flows and weaker financial profiles [1] - Some companies, however, have demonstrated the ability to pay stable and growing dividends for over 100 consecutive quarters, indicating potential for future stability [2] Group 1: EastGroup Properties - EastGroup Properties has declared its 182nd consecutive quarterly dividend payment and has maintained or increased its dividend for 32 years, raising it in 29 of those years [4][5] - The company employs a four-pronged growth strategy focused on high-growth markets, including targeted development, acquisitions, capital recycling, and internal growth [7] - EastGroup's dividend yield is over 3%, more than double that of the S&P 500 [5] Group 2: Realty Income - Realty Income has declared its 659th consecutive monthly dividend and has increased its dividend for 110 straight quarters, raising it at least once every year for three decades [8][9] - The REIT focuses on net lease real estate, requiring tenants to cover all operating costs, which supports its financial flexibility and low dividend payout ratio [9] - Realty Income's dividend yield is nearly 6%, supported by one of the best balance sheets in the REIT sector [9] Group 3: Mid-America Apartment Communities - Mid-America Apartment Communities has declared its 126th consecutive quarterly dividend and has never suspended or reduced its dividend in 30 years as a public company [10][12] - The company owns apartments in high-growth markets across the Sun Belt region, benefiting from rising rental income and expansion opportunities [11] - With a strong balance sheet, Mid-America has the financial flexibility to support its nearly 4%-yielding dividend [12] Group 4: Summary of Bankable Dividend Stocks - EastGroup Properties, Realty Income, and Mid-America Apartment Communities have consistently paid dividends at or above prior levels for over 100 quarters, showcasing the durability of their dividends [13] - These REITs are well-positioned to continue providing resilient dividends, making them ideal for investors seeking sustainable income streams [13]

Summary of EastGroup Properties (EGP) 2025 Conference Call Company Overview - EastGroup Properties is identified as an industrial Real Estate Investment Trust (REIT) focusing on last mile delivery logistics, primarily in Sunbelt markets such as California, Texas, Florida, and the Carolinas [4][5][6] - The average building size is 95,000 square feet, with an average tenant size of 35,000 square feet [4][5] Core Business Strategy - The company targets last mile delivery, which is increasingly important as urban areas grow and industrial land becomes scarce [5][6] - EastGroup operates as a developer and is indifferent to whether it buys, builds, or acquires vacant properties based on market conditions [7][8] - The company has experienced record leasing activity, with a 97% occupancy rate, indicating strong demand despite macroeconomic uncertainties [10][12][16] Market Dynamics - The macro environment has shown fluctuations, with a recent slowdown in tenant activity, particularly for larger spaces [14][15] - Supply of industrial properties is at a record low, with construction in markets like Atlanta at its lowest since 2014 [18] - The company has a competitive advantage due to its existing land holdings that are zoned and permitted, allowing for quicker development compared to peers [20] Financial Performance - EastGroup has maintained a strong balance sheet, with a debt to EBITDA ratio trending below three and a fixed charge coverage ratio above 15 [42][43] - The company has seen organic growth in rents, with net effective rent increases of over 50% in the last two years [37][62] - The average Funds From Operations (FFO) multiple is currently below 19, compared to a five-year average of around 25, suggesting potential undervaluation [66][67] Regional Insights - The company has a diversified portfolio, with approximately 5% of its Net Operating Income (NOI) coming from Los Angeles, which has faced challenges with negative absorption rates [49][50][57] - Despite challenges in certain markets, EastGroup remains optimistic about long-term demand, particularly in areas with strong population growth [56][66] Future Outlook - The management expresses confidence in the company's positioning and anticipates a potential inflection point in the market as business confidence returns [66][67] - The company plans to remain patient and strategic in its development and acquisition activities, leveraging its strong balance sheet to capitalize on future opportunities [46][66] Key Takeaways - EastGroup Properties is well-positioned in the industrial REIT sector, focusing on last mile delivery in high-growth markets - The company has a strong financial foundation and is poised to take advantage of market opportunities as they arise - Management remains optimistic about future growth, despite current macroeconomic uncertainties and regional challenges

Group 1 - The article discusses the investment opportunities provided by the "Value in Corporate Events" service, which covers major corporate events such as earnings reports, M&A, and IPOs [1][2] - EastGroup Properties (NYSE: EGP) was previously identified as a fully valued industrial play in the Sunbelt region, benefiting from low leverage and positive business performance remarks [1] Group 2 - The investing group aims to provide members with actionable ideas and opportunities to capitalize on significant corporate events, covering around 10 major events each month [2] - The article emphasizes that past performance does not guarantee future results and that no specific investment recommendations are made [3]

Core Viewpoint - EastGroup Properties, Inc. has declared a quarterly cash dividend of $1.40 per share, marking its 182nd consecutive quarterly distribution and reflecting a strong commitment to returning value to shareholders [1] Group 1: Dividend Information - The quarterly cash dividend of $1.40 per share is payable on July 15, 2025, to shareholders of record on June 30, 2025 [1] - This dividend represents an annualized rate of $5.60 per share [1] - EastGroup has maintained or increased its dividend for 32 consecutive years, with increases in 29 of those years, including each of the last 13 years [1] Group 2: Company Overview - EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on industrial properties in high-growth markets across the United States, particularly in Texas, Florida, California, Arizona, and North Carolina [2] - The company's strategy aims to maximize shareholder value by providing functional, flexible, and quality business distribution space for location-sensitive customers, primarily in the 20,000 to 100,000 square foot range [2] - EastGroup's portfolio currently includes approximately 63.1 million square feet, encompassing development projects and value-add acquisitions in lease-up and under construction [2]

Financial Data and Key Metrics Changes - The meeting confirmed that a quorum was present, allowing for the transaction of business, but specific financial data and key metrics were not disclosed during the meeting [5][6]. Business Line Data and Key Metrics Changes - No specific data or key metrics related to individual business lines were provided during the meeting [5][6]. Market Data and Key Metrics Changes - There was no discussion regarding market data or key metrics changes during the meeting [5][6]. Company Strategy and Development Direction and Industry Competition - The meeting included proposals for the election of directors and the ratification of the independent accounting firm, indicating a focus on governance and oversight, but did not elaborate on specific strategic initiatives or competitive positioning [5][6]. Management's Comments on Operating Environment and Future Outlook - Management did not provide comments on the operating environment or future outlook during the meeting [5][6]. Other Important Information - The results of the meeting will be filed with the SEC within four business days, ensuring transparency and compliance with regulatory requirements [8]. Q&A Session All Questions and Answers Question: Were there any questions regarding the proposals? - No questions were submitted by shareholders regarding the proposals during the meeting [6][7].