A Business at a Glance
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EASTGROUP PROPERTIES INC
EGP
$11.3B
Mkt Cap
$213.10
-0.44%
EASTGROUP PROPERTIES INC (EGP) has a current P/E ratio of 43.8, compared to its historical median P/E of 33.7. The stock is currently considered Expensive based on its historical valuation range.
EASTGROUP PROPERTIES INC (EGP) has a 5-year average return on invested capital (ROIC) of 8.3%. This is below average and may indicate limited pricing power.
EASTGROUP PROPERTIES INC (EGP) has a market capitalization of $11.5B. It is classified as a large-cap stock.
Yes, EASTGROUP PROPERTIES INC (EGP) pays a dividend with a trailing twelve-month yield of 2.73%.
Based on historical P/E analysis, EASTGROUP PROPERTIES INC (EGP) appears expensive. The current P/E of 43.8 is 30% above its historical median of 33.7. The estimated fair value CAGR (P/E method) is 9.3%.
EASTGROUP PROPERTIES INC (EGP) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
EASTGROUP PROPERTIES INC (EGP) reported annual revenue of $721 million in its most recent fiscal year, based on SEC EDGAR filings.
EastGroup Properties is an internally-managed equity REIT focused on the development, acquisition, and operation of industrial distribution facilities in high-growth U.S. markets, primarily Texas, Florida, California, Arizona, and North Carolina. The company owns 550 industrial properties across 12 states comprising approximately 65 million square feet, including business distribution properties (the core segment), bulk distribution facilities, and business service properties, with the majority of assets clustered near major transportation features in supply-constrained submarkets targeting location-sensitive tenants in the 20,000 to 100,000 square foot range. EastGroup's business model centers on owning premier, functional distribution space with a diversified tenant base—no single tenant represents more than approximately 1.5% of annualized base rent—and generates revenue through long-term leases with approximately 1,700 tenants across its operating portfolio, which was 97.0% leased as of December 31, 2025. The company funds growth through its $675 million unsecured bank credit facility, debt issuance, and opportunistic equity offerings, while maintaining an internally-managed structure with regional offices and property management teams positioned to provide on-site services to 88% of the operating portfolio by square footage. EastGroup's competitive positioning rests on supply-constrained market selection, infill location sourcing, and a high-quality, well-diversified portfolio of multi-tenant assets that serve as a strategic hedge against economic cycles through geographic and tenant diversity.
【Market supply tightening, rent growth ahead】 Management anticipates continued positive absorption in core markets with new supply remaining limited, which is expected to accelerate tenant decision-making and place upward pressure on rents as the supply of competing product continues to tighten. The company projects strong cash same-property net operating income growth driven by rental rate increases on in-place and budgeted leases, with same-property occupancy expected to remain elevated. Development starts are being pulled by market demand rather than pushed by the company, with management noting that new development sites in targeted infill locations remain challenging to source due to entitlements and zoning constraints, positioning the company to benefit from the supply-demand imbalance. Looking ahead, management remains confident in the high-quality portfolio and the team's ability to execute in the steadily improving environment, with goals centered on driving FFO per share growth and raising portfolio quality to create NAV growth for shareholders.
| Metric | Target | Period |
|---|---|---|
| FFO per share | $9.52 per share | FY2026 |
| Same-property cash NOI growth | 6.2% | FY2026 |
| Same-property occupancy | 96.4% | FY2026 |
FFO per share (FY2026): “we increased the midpoint of our 2026 FFO guidance to $9.52 per share, excluding gains on involuntary conversion”
Same-property cash NOI growth (FY2026): “we raised the midpoint of our guidance assumption by 10 basis points to 6.2%”
Same-property occupancy (FY2026): “expected same property occupancy of 96.4%, which is also 10 basis points ahead of our initial guidance”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 737M | 721M | 640M | 571M | 487M | 409M |
| Net Income | 293M | 257M | 228M | 200M | 186M | 158M |
| EPS | $5.49 | $4.87 | $4.66 | $4.42 | $4.36 | $3.90 |
| Free Cash Flow | 496M | 405M | 357M | 287M | 276M | 220M |
| ROIC | 5.6% | 5.9% | 5.9% | 7.6% | 10.8% | 11.4% |
| Gross Margin | - | 43.3% | 43.2% | 43.0% | 41.0% | 40.9% |
| Debt/Equity | 0.45 | 0.46 | 0.46 | 0.64 | 0.17 | 0.19 |
| Dividends/Share | $5.82 | $5.90 | $5.34 | $5.04 | $4.70 | $3.58 |
| Operating Income | 136K | 290M | 267M | 248M | 225M | 191M |
| Operating Margin | 0.0% | 40.1% | 41.7% | 43.5% | 46.1% | 46.5% |
| ROE | 8.2% | 7.6% | 7.7% | 8.8% | 10.6% | 11.1% |
| Shares Outstanding | 54M | 53M | 49M | 45M | 43M | 40M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 220M | 235M | 253M | 274M | 300M | 331M | 363M | 409M | 487M | 571M | 640M | 721M | 737M |
| Gross Margin | 41.9% | 43.3% | 44.0% | 44.2% | 52.4% | 50.5% | 48.6% | 40.9% | 41.0% | 43.0% | 43.2% | 43.3% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 13M | 15M | 13M | 15M | 14M | 16M | 14M | 16M | 16M | 17M | 21M | 24M | 24M |
| EBIT | 74M | 79M | 87M | 95M | 109M | 156M | 142M | 191M | 225M | 248M | 267M | 290M | 136K |
| Op. Margin | 33.6% | 33.6% | 34.5% | 34.7% | 36.1% | 47.1% | 39.2% | 46.5% | 46.1% | 43.5% | 41.7% | 40.1% | 0.0% |
| Net Income | 48M | 48M | 96M | 83M | 89M | 122M | 108M | 158M | 186M | 200M | 228M | 257M | 293M |
| Net Margin | 21.8% | 20.4% | 37.7% | 30.3% | 29.5% | 36.7% | 29.9% | 38.5% | 38.2% | 35.1% | 35.6% | 35.7% | 39.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 9.6% | 10.2% | 10.0% | 9.5% | 9.4% | 11.5% | 9.6% | 11.4% | 10.8% | 7.6% | 5.9% | 5.9% | 5.6% |
| ROE | 8.8% | 8.5% | 16.0% | 12.0% | 10.7% | 11.6% | 8.8% | 11.1% | 10.6% | 8.8% | 7.7% | 7.6% | 8.2% |
| ROA | 3.1% | 3.0% | 5.5% | 4.4% | 4.3% | 5.2% | 4.1% | 5.3% | 5.1% | 4.7% | 4.7% | 4.9% | 5.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 116M | 130M | 139M | 155M | 165M | 196M | 196M | 256M | 317M | 338M | 417M | 481M | 489M |
| Free Cash Flow | 96M | 105M | 115M | 128M | 127M | 158M | 163M | 220M | 276M | 287M | 357M | 405M | 496M |
| Owner Earnings | 41M | 50M | 56M | 66M | 68M | 84M | 73M | 122M | 155M | 158M | 217M | 252M | 270M |
| CapEx | 21M | 25M | 24M | 27M | 38M | 38M | 33M | 37M | 41M | 51M | 59M | 76M | 6.2M |
| Maint. CapEx | 70M | 73M | 78M | 84M | 92M | 105M | 116M | 127M | 154M | 171M | 189M | 217M | 220M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 70M | 73M | 78M | 84M | 92M | 105M | 116M | 127M | 154M | 171M | 189M | 217M | 220M |
| CapEx/OCF | 17.5% | 18.8% | 17.1% | 17.7% | 22.8% | 19.3% | 16.9% | 14.3% | 12.9% | 15.1% | 2.6% | 1.3% | 1.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 70M | 76M | 81M | 87M | 71M | 109M | 120M | 132M | 194M | 226M | 253M | 303M | 313M |
| Dividend Yield | 5.0% | 5.5% | 5.0% | 3.9% | 2.7% | 3.0% | 2.8% | 2.2% | 3.0% | 3.2% | 3.1% | 3.4% | 2.7% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 5.1M | 6.7M | 4.6M | 5.5M | 5.3M | 6.8M | 6.6M | 7.5M | 8.3M | 9.0M | 10M | 12M | 33K |
| Debt Repayment | 499K | 2.0M | 1.5M | 380K | 1.9M | 893K | 1.1M | 541M | 981M | 642M | 65M | 321M | 321M |
| Balance Sheet | |||||||||||||
| Net Debt | 171M | 260M | 297M | 310M | 335M | 283M | 211M | 298M | 337M | 1.6B | 1.5B | 1.6B | 1.6B |
| Cash & Equiv. | 11K | 48K | 522K | 16K | 374K | 224K | 21K | 4.4M | 56K | 40M | 18M | 1.0M | 31M |
| Long-Term Debt | 75M | 150M | 191M | 196M | 194M | 111M | 124M | 207M | 168M | N/A | N/A | N/A | 1.6B |
| Debt/Equity | 0.30 | 0.47 | 0.47 | 0.41 | 0.37 | 0.24 | 0.17 | 0.19 | 0.17 | 0.64 | 0.46 | 0.46 | 0.45 |
| Interest Coverage | 2.1 | 2.3 | 2.5 | 2.7 | 3.1 | 4.5 | 4.2 | 5.8 | 5.8 | 5.2 | 6.8 | 9.0 | 0.0 |
| Equity | 571M | 555M | 638M | 749M | 903M | 1.2B | 1.3B | 1.6B | 2.0B | 2.6B | 3.3B | 3.5B | 3.6B |
| Total Assets | 1.6B | 1.7B | 1.8B | 2.0B | 2.1B | 2.5B | 2.7B | 3.2B | 4.0B | 4.5B | 5.1B | 5.4B | 5.5B |
| Total Liabilities | 1.0B | 1.1B | 1.2B | 1.2B | 1.2B | 1.3B | 1.5B | 1.6B | 2.1B | 1.9B | 1.8B | 1.9B | 1.9B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 21M | 20M | 39M | 36M | 36M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 513K |
| Per Share Data | |||||||||||||
| EPS | 1.52 | 1.49 | 2.93 | 2.44 | 2.49 | 3.24 | 2.76 | 3.90 | 4.36 | 4.42 | 4.66 | 4.87 | 5.49 |
| Owner EPS | 1.29 | 1.56 | 1.73 | 1.92 | 1.91 | 2.25 | 1.87 | 3.02 | 3.62 | 3.49 | 4.43 | 4.77 | 5.02 |
| Book Value | 18.11 | 17.27 | 19.56 | 21.98 | 25.41 | 31.97 | 32.34 | 38.86 | 45.74 | 57.50 | 67.36 | 66.15 | 66.53 |
| Cash Flow/Share | 3.68 | 4.05 | 4.26 | 4.55 | 4.63 | 5.22 | 5.00 | 6.35 | 7.41 | 7.46 | 8.52 | 9.10 | 9.53 |
| Dividends/Share | 2.22 | 2.34 | 2.44 | 2.52 | 2.72 | 2.94 | 3.08 | 3.58 | 4.70 | 5.04 | 5.34 | 5.90 | 5.82 |
| Shares Out. | 31.5M | 32.1M | 32.6M | 34.1M | 35.5M | 37.5M | 39.3M | 40.4M | 42.7M | 45.4M | 48.9M | 52.9M | 53.8M |
| Valuation | |||||||||||||
| P/E Ratio | 30.3 | 28.4 | 19.2 | 29.1 | 30.0 | 34.2 | 43.1 | 50.5 | 30.1 | 39.2 | 33.2 | 36.8 | 38.8 |
| P/FCF | 15.2 | 12.9 | 15.9 | 19.0 | 20.9 | 26.3 | 28.6 | 36.2 | 20.3 | 27.4 | 21.1 | 23.4 | 23.1 |
| EV/EBIT | 24.8 | 19.1 | 23.1 | 27.5 | 23.1 | 27.4 | 33.7 | 42.8 | 33.2 | 38.2 | 33.8 | 38.4 | N/A |
| Price/Book | 2.5 | 2.4 | 2.9 | 3.2 | 2.9 | 3.5 | 3.7 | 5.1 | 2.9 | 3.0 | 2.3 | 2.7 | 3.2 |
| Price/Sales | 6.4 | 5.8 | 6.3 | 8.1 | 8.8 | 11.1 | 11.6 | 14.4 | 13.5 | 12.4 | 12.7 | 12.2 | 15.5 |
| FCF Yield | 6.6% | 7.7% | 6.3% | 5.3% | 4.8% | 3.8% | 3.5% | 2.8% | 4.9% | 3.7% | 4.7% | 4.3% | 4.3% |
| Market Cap | 1.5B | 1.4B | 1.8B | 2.4B | 2.7B | 4.2B | 4.7B | 8.0B | 5.6B | 7.9B | 7.6B | 9.5B | 11.5B |
| Avg. Price | 44.29 | 42.57 | 49.23 | 64.89 | 73.95 | 97.67 | 107.42 | 146.09 | 153.89 | 155.62 | 166.61 | 167.17 | 213.10 |
| Year-End Price | 46.02 | 42.31 | 56.21 | 70.95 | 74.77 | 110.82 | 118.90 | 197.05 | 131.13 | 173.34 | 154.55 | 179.41 | 213.10 |
EASTGROUP PROPERTIES INC passes 3 of 9 quality checks, indicating weak fundamentals.
EASTGROUP PROPERTIES INC trades at 43.8x trailing earnings, compared to its 15-year median P/E of 33.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 24.0x vs a median of 22.3x. The company's 5-year average ROIC is 8.3% with a gross margin of 42.3%. Total shareholder yield (dividends) is 2.7%. At current prices, the estimated annualized return to fair value is +11.3%.
EASTGROUP PROPERTIES INC (EGP) has a net profit margin of 35.7%. This is a strong margin indicating high profitability.
EASTGROUP PROPERTIES INC (EGP) generated $405 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
EASTGROUP PROPERTIES INC (EGP) has a debt-to-equity ratio of 0.46. This indicates a conservatively financed balance sheet.
EASTGROUP PROPERTIES INC (EGP) reported earnings per share (EPS) of $4.87 in its most recent fiscal year.
EASTGROUP PROPERTIES INC (EGP) has a return on equity (ROE) of 7.6%. This indicates moderate shareholder returns.
EASTGROUP PROPERTIES INC (EGP) has a 5-year average gross margin of 42.3%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for EASTGROUP PROPERTIES INC (EGP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EASTGROUP PROPERTIES INC (EGP) has a book value per share of $66.15, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management anticipates continued positive absorption in core markets with new supply remaining limited, which is expected to accelerate tenant decision-making and place upward pressure on rents as the supply of competing product continues to tighten. The company projects strong cash same-property net operating income growth driven by rental rate increases on in-place and budgeted leases, with same-property occupancy expected to remain elevated. Development starts are being pulled by market demand rather than pushed by the company, with management noting that new development sites in targeted infill locations remain challenging to source due to entitlements and zoning constraints, positioning the company to benefit from the supply-demand imbalance. Looking ahead, management remains confident in the high-quality portfolio and the team's ability to execute in the steadily improving environment, with goals centered on driving FFO per share growth and raising portfolio quality to create NAV growth for shareholders.
Based on recent SEC filings and earnings calls, EASTGROUP PROPERTIES INC (EGP) has provided the following forward guidance: FFO per share: $9.52 per share (FY2026); Same-property cash NOI growth: 6.2% (FY2026); Same-property occupancy: 96.4% (FY2026).