JACKSON, Miss., Feb. 29, 2024 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today its recent business activity.Commenting on the Company's activity, Marshall Loeb, CEO, stated, "We are pleased to see the occupancy and leasing trends we experienced late last year continuing thus far into 2024. Occupancy is trending inline to slightly ahead of our forecast. We look forward to speaking with many of you next week at the Citi conference and for those ...

Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Pebblebrook Hotel (PEB) and EastGroup Properties (EGP) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank empha ...

Richard Darko/iStock via Getty Images Co-produced by Austin Rogers. In the post-pandemic years of 2021 through 2023, commercial real estate (with the exception of the office sector) enjoyed an almost uniformly strong environment characterized by rising occupancy and strong rent growth. At the tip of the pyramid in terms of strength is industrial real estate. According to a December 2023 report by CommercialEdge, in-place rents for industrial real estate rose 7.4% year-over-year, while the national vacan ...

EastGroup Properties, Inc. (NYSE:EGP) Q4 2023 Earnings Conference Call February 8, 2024 11:00 AM ET Keena Frazier - Director of Leasing Statistics Conference Call Participants Alexander Goldfarb - Piper Sandler Samir Khanal - Evercore Michael Carroll - RBC Capital Markets Operator Good morning and thanks for calling in for our fourth quarter 2023 conference call. As always, we appreciate your interest. Brent Wood, our CFO is also on the call. Since we'll make forward-looking statements, we ask that you list ...

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 ...

Brent Wood - Chief Financial Officer Conference Call Participants Nick Thillman - Robert W. Baird & Co. Ronald Kamdem - Morgan Stanley And at this time, IÂ'd like to turn the floor over to Marshall Loeb, President and CEO. Sir, you may begin. Please also note that some statements during this call are forward-looking statements as defined in and within the safe harbors under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looki ...

Mostly what weÂ're, youÂ're right. WeÂ're seeing it within our releasing spreads and occupancy out in our main two markets, or maybe two and a half to three, weÂ're seeing, rental rate growth in El Paso thatÂ's historically strong, where itÂ's really kind of California-like markets where itÂ's triple digits. And we wonÂ't go to the other side of the border, but in reading about Juarez and Tijuana, both have incredibly low vacancy rates, and that will continue to drive those markets. EastGroup Properties, In ...

Yes, I would just add to that, Craig. This is Brent. I would just add to that, we're continually evaluating our best capital sources. Last year, we were – when our stock price initially fell, we were a little happier on the debt. We issued $525 million last year of debt at an average of $3.8 million. We got kind of in front of that and the head of rate hikes. We're very pleased with that result what turned out to be a difficult environment. And only – we did about $75 million in equity first quarter last ye ...