Sunbelt REIT Leade | EastGroup Properties excels in industrial real estate, focusing on last-mile logistics centers in high-growth Sunbelt markets, positioning it for e-commerce expansion |
Financial Resilience | Strong Q2 2024 results and increased FFO guidance showcase EGP's operational efficiency, with analysts projecting 7-10% earnings growth through 2026 |
Market Challenges | Explore EGP's strategy to navigate softer occupancy trends and exposure to the challenged Southern California market, representing 11% of annual base rent |
Future-Proofing Strategy | Delve into EGP's adaptation to AI and automation in warehousing, and its potential to benefit from shifting supply dynamics in the industrial real estate secto |
EastGroup Properties, Inc. (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California 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 59 million square feet.
Metrics to compare | EGP | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipEGPPeersSector | |
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P/E Ratio | 38.6x | −2.8x | 7.7x | |
PEG Ratio | 1.38 | −0.15 | 0.01 | |
Price/Book | 3.2x | 1.2x | 0.9x | |
Price / LTM Sales | 14.3x | 2.8x | 3.8x | |
Upside (Analyst Target) | 12.5% | 18.5% | 11.8% | |
Fair Value Upside | Unlock | −2.7% | 0.8% | Unlock |