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EastGroup Properties
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Latest analysis
Updated Oct 22, 2026
EastGroup raises FFO, occupancy, and development-starts guidance across the board after a record-setting Q3 2026 leasing quarter.
EastGroup delivered a company-record 2.9 million square feet of second-generation leasing in Q3 2026, driving FFO of $2.45 per share — $0.04 above guidance midpoint and up 7.9% year-over-year — and pushing cash same-store NOI to 7.1% for the quarter and 8.2% year-to-date. Management raised full-year FFO guidance midpoint by $0.06 to $9.65 per share, lifted same-store NOI guidance by 70 basis points to 7.5%, and increased development starts target by $65 million to a projected record $390 million, funded by $695 million in outstanding forward equity share agreements. The acquisition window opened materially in Q3, with cap rates moving 20-30 basis points higher in most markets, enabling EastGroup to acquire five projects for $320 million at stabilized straight-line yields around 6.5% while maintaining a debt-to-EBITDA ratio of 3.2x.
Tone: bullishRevenue
$721.3M
EGP 10-K · FY 2025
Employees
103
Revenue FY2024
$640.2M
Founded
1969
Profile
EGP 10-K Item 1 · Feb 11, 2026EastGroup Properties is an internally-managed equity REIT focused on the development, acquisition and operation of industrial properties in high-growth U.S. markets, primarily Texas, Florida, California, Arizona and North Carolina. The company targets functional business distribution space in the 20,000 to 100,000 square foot range, clustered near major transportation features in supply-constrained submarkets. As of December 31, 2025, EastGroup owned 550 industrial properties across 12 states totaling approximately 65 million square feet.
Read filing description ↓ Collapse description ↑
EastGroup Properties, Inc. is an internally-managed equity REIT first organized in 1969. EastGroup is focused on the development, acquisition and operation of industrial properties in high-growth markets throughout the United States, primarily in the states of Texas, Florida, California, Arizona and North Carolina. EastGroup's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup'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). As of December 31, 2025, EastGroup owned 550 industrial properties in 12 states. The Company's portfolio, including development projects and value-add properties in lease-up and under construction, included approximately 65,000,000 square feet consisting of 510 business distribution properties containing 59,300,000 square feet, 19 bulk distribution properties containing 4,900,000 square feet, and 21 business service properties containing 800,000 square feet. EastGroup's operating portfolio was 97.0% leased to tenants in approximately 1,700 leases, with no single tenant accounting for more than approximately 1.5% of the Company's annualized base rent. The company develops approximately 50% of its total portfolio on a square foot basis and funds its programs primarily through $675,000,000 in unsecured bank credit facilities.
Primary products
- Business distribution space
- Bulk distribution space
- Business service space
- Development and value-add properties
Business segments
End markets
Geographies
Named competitors
“EastGroup's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets.” Competitive position, as stated in the filing
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