EastGroup Properties, Inc. (EGP) 10-Year Financial Performance & Capital Metrics

EGP • • REIT / Real Estate

Real EstateIndustrial REITsIndustrial & Logistics REITsRegional Industrial Specialists

AboutEastGroup Properties, Inc. (NYSE: EGP), an S&P MidCap 400 company, 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 15,000 to 70,000 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. EastGroup's portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 45.8 million square feet.Show more

Revenue $639M +12.7%
FFO $389M +12.0%
FFO/Share 7.95 +3.8%
FFO Payout 65.03%
FFO per Share 7.95 +3.8%
NOI Margin 72.72% -0.1%
FFO Margin 60.88% -0.6%
ROE 7.72% -12.2%
ROA 4.75% +1.3%
Debt/Assets 30.43% -18.9%
Net Debt/EBITDA 2.53 -17.3%
Book Value/Share 67.32 +17.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 8.9% TTM
✓Sustainable FFO payout ratio of 65.0%
✓High NOI margin of 72.7%
✓Healthy dividend yield of 2.8%
✓Trading near 52-week high

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.25%

5Y14.06%

3Y15.96%

TTM11.63%

Profit (Net Income) CAGR

10Y16.86%

5Y13.36%

3Y13.07%

TTM6.77%

EPS CAGR

10Y11.85%

5Y14.97%

3Y6.11%

TTM-1.65%

ROCE

10Y Avg9.41%

5Y Avg9.99%

3Y Avg9.85%

Latest9.56%

Peer Comparison

Regional Industrial Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EGPEastGroup Properties, Inc.	9.95B	186.46	40.01	12.73%	35.67%	7.08%	3.59%	0.47
REXRRexford Industrial Realty, Inc.	9.55B	41.03	34.19	17.37%	33.44%	3.69%	1.1%	0.38
TRNOTerreno Realty Corporation	6.31B	61.30	31.93	18.24%	72.5%	8.03%	2.95%	0.22
PLYMPlymouth Industrial REIT, Inc.	974.33M	21.87	7.08	-0.75%	48.46%	16.78%	9.86%	1.10
NHPAPNational Healthcare Properties, Inc.		18.99	-2.64	2.27%	-22.97%	-12.27%		1.67
LPALogistic Properties of the Americas	97.07M	3.07	-3.27	11.22%	14.07%	2.17%	2.73%	1.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	235.01M	253.05M	274.15M	299.02M	330.81M	363.02M	409.48M	487.02M	566.4M	638.53M
Revenue Growth %	0.07%	0.08%	0.08%	0.09%	0.11%	0.1%	0.13%	0.19%	0.16%	0.13%
Property Operating Expenses	67.57M	74.51M	80.11M	86.39M	93.27M	103.37M	115.08M	133.91M	154.03M	174.21M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	88.38M	91.17M	14.97M	13.74M	16.82M	15.06M	16.4M	16.91M	17.34M	21.4M
G&A Expenses	15.09M	13.23M	14.97M	13.74M	16.82M	15.06M	16.4M	16.91M	17.34M	21.4M
EBITDA+	142.87M	154.89M	252.09M	278.43M	311.05M	345.05M	387.83M	468.32M	541.5M	603.88M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	63.8M	67.52M	73.02M	79.54M	90.33M	100.46M	109.84M	132.12M	146.46M	160.97M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	79.06M	87.37M	179.07M	198.89M	220.72M	244.59M	277.99M	336.2M	395.04M	442.91M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	34.67M	35.21M	34.77M	35.11M	34.46M	33.93M	32.95M	38.5M	45.05M	36.03M
Interest Coverage	2.28x	2.48x	5.15x	5.67x	6.40x	7.21x	8.44x	8.73x	8.77x	12.29x
Non-Operating Income	0	0	83.87M	91.7M	104.72M	116.36M	127.1M	153.64M	171.08M	189.41M
Pretax Income+	48.4M	96.09M	83.59M	88.64M	123.34M	108.39M	157.64M	186.27M	200.55M	227.81M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	47.87M	95.51M	83.18M	88.51M	121.66M	108.36M	157.56M	186.18M	200.49M	227.75M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0%	1%	-0.13%	0.06%	0.37%	-0.11%	0.45%	0.18%	0.08%	0.14%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.02%	0.46%	-0.04%	0.08%	0.26%	-0.01%	0.28%	0.19%	0.09%	0.12%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.49	2.93	2.44	2.49	2.32	2.76	3.90	4.36	4.42	4.66
EPS Growth %	-0.02%	0.97%	-0.17%	0.02%	-0.07%	0.19%	0.41%	0.12%	0.01%	0.05%
EPS (Basic)	1.49	2.93	2.45	2.50	2.32	2.77	3.91	4.37	4.43	4.67
Diluted Shares Outstanding	32.2M	32.63M	34.05M	35.51M	37.53M	39.3M	40.38M	42.71M	45.33M	48.91M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.67B	1.83B	1.95B	2.13B	2.55B	2.72B	3.22B	4.04B	4.52B	5.08B
Asset Growth %	0.06%	0.1%	0.07%	0.09%	0.19%	0.07%	0.18%	0.26%	0.12%	0.12%
Real Estate & Other Assets+	1.6B	1.76B	1.88B	2.06B	2.45B	2.62B	3.1B	3.93B	4.36B	4.9B
PP&E (Net)	1.56B	0	0	0	2.12M	2.13M	1.98M	2.05M	2.83M	2.23M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	38.54M	42.44M	47.22M	50.09M	64.72M	73.79M	88.53M	79.11M	131.99M	124.95M
Cash & Equivalents	48K	522K	16K	374K	224K	21K	4.39M	56K	40.26M	17.53M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	0	0	3.86M	2.52M	745K	3.34M
Intangible Assets	11.51M	13.45M	12.47M	12.43M	17.63M	15.15M	18.9M	21.15M	20.37M	38.85M
Total Liabilities	1.11B	1.18B	1.2B	1.23B	1.34B	1.45B	1.64B	2.08B	1.91B	1.78B
Total Debt+	1.03B	1.1B	1.11B	1.11B	1.2B	1.32B	1.48B	1.88B	1.7B	1.55B
Net Debt	1.03B	1.1B	1.11B	1.11B	1.2B	1.32B	1.47B	1.88B	1.66B	1.53B
Long-Term Debt	878.5M	910.34M	912.57M	911.86M	1.07B	1.19B	1.24B	1.69B	1.68B	1.51B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Capital Lease Obligations	2.13M	2.35M	1.99M	2.86M	14.19M	13.37M	24.93M	22.05M	21.64M	41.66M
Total Current Liabilities+	203.6M	253.49M	270.03M	293.22M	217.27M	208.46M	333.23M	322.45M	164.89M	168.56M
Accounts Payable	0	0	0	0	0	2.42M	10.58M	11.01M	14.99M	10.92M
Deferred Revenue	10M	9.79M	9.35M	12.73M	13.86M	14.69M	16.4M	17M	20.07M	24.81M
Other Liabilities	18.48M	17.72M	17.5M	21.92M	41.08M	41.76M	41.01M	44.62M	47.7M	67.56M
Total Equity+	559.2M	641.87M	751.13M	904.7M	1.2B	1.27B	1.57B	1.95B	2.61B	3.29B
Equity Growth %	-0.03%	0.15%	0.17%	0.2%	0.33%	0.06%	0.24%	0.24%	0.34%	0.26%
Shareholders Equity	554.86M	637.66M	749.47M	903.06M	1.2B	1.27B	1.57B	1.95B	2.61B	3.29B
Minority Interest	4.34M	4.21M	1.66M	1.64M	1.76M	880K	1.39M	441K	307K	365K
Common Stock	3K	3K	3K	4K	4K	4K	4K	4K	5K	5K
Additional Paid-in Capital	887.21M	949.32M	1.06B	1.22B	1.51B	1.61B	1.89B	2.25B	2.95B	3.67B
Retained Earnings	-328.89M	-313.65M	-317.03M	-326.19M	-316.3M	-329.67M	-318.06M	-334.9M	-366.47M	-403.17M
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.03%	0.05%	0.04%	0.04%	0.05%	0.04%	0.05%	0.05%	0.05%	0.05%
Return on Equity (ROE)	0.08%	0.16%	0.12%	0.11%	0.12%	0.09%	0.11%	0.11%	0.09%	0.08%
Debt / Assets	0.62%	0.6%	0.57%	0.52%	0.47%	0.49%	0.46%	0.47%	0.38%	0.3%
Debt / Equity	1.84x	1.72x	1.48x	1.22x	1.00x	1.04x	0.94x	0.96x	0.65x	0.47x
Net Debt / EBITDA	7.21x	7.12x	4.40x	3.97x	3.85x	3.84x	3.80x	4.02x	3.06x	2.53x
Book Value per Share	17.37	19.67	22.06	25.48	32.04	32.33	38.92	45.74	57.55	67.32

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	131.38M	138.86M	155.01M	164.73M	195.91M	196.28M	256.49M	316.5M	338.2M	416.59M
Operating CF Growth %	0.12%	0.06%	0.12%	0.06%	0.19%	0%	0.31%	0.23%	0.07%	0.23%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	48.4M	96.09M	83.59M	88.64M	123.34M	108.39M	157.64M	186.27M	200.49M	227.75M
Depreciation & Amortization	73.29M	77.94M	83.87M	91.7M	104.72M	116.36M	127.1M	153.64M	171.08M	189.41M
Stock-Based Compensation	6.73M	4.59M	5.52M	5.28M	6.84M	6.58M	7.51M	8.29M	8.96M	8.96M
Other Non-Cash Items	-157K	295K	879K	240K	1.21M	1.57M	1.38M	-39.59M	-22.54M	-7.26M
Working Capital Changes	6.15M	2.85M	3.3M	-6.77M	956K	-23.47M	1.73M	7.88M	-19.79M	-2.28M
Cash from Investing+	-156.42M	-186.47M	-179.43M	-241.44M	-443.34M	-288.26M	-529.26M	-521.15M	-570.06M	-724.34M
Acquisitions (Net)	0	0	0	0	0	0	0	0	0	0
Purchase of Investments	-126.61M	-231.43M	-180.13M	-224.82M	-461M	-244.65M	-527M	-496.12M	-553.33M	-635.04M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-10.57M	-10.27M	-16.02M	-5.61M	-12.21M	-33.72M	-9.85M	-35.18M	-12.18M	-50.12M
Cash from Financing+	26.41M	48.08M	23.91M	77.06M	247.28M	91.77M	277.14M	200.31M	272.06M	285.02M
Dividends Paid	-75.84M	-80.9M	-86.72M	-71.29M	-108.8M	-119.77M	-131.76M	-193.94M	-225.63M	-252.79M
Common Dividends	-75.84M	-80.9M	-86.72M	-71.29M	-108.8M	-119.77M	-131.76M	-193.94M	-225.63M	-252.79M
Debt Issuance (Net)	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-1.38M	-2.46M	-4.53M	-5.36M	-4.35M	-6.08M	-3.81M	-29.76M	-5M	-6.16M
Net Change in Cash+	37K	474K	-506K	358K	-150K	-203K	4.37M	-4.34M	40.21M	-22.73M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	11K	48K	522K	16K	374K	224K	21K	4.39M	56K	40.26M
Cash at End	48K	522K	16K	374K	224K	21K	4.39M	56K	40.26M	17.53M
Free Cash Flow+	105.53M	115.19M	128.86M	127.23M	158.14M	163.15M	219.83M	275.65M	287.09M	357.3M
FCF Growth %	129.86%	0.09%	0.12%	-0.01%	0.24%	0.03%	0.35%	0.25%	0.04%	0.24%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	3.47	5	4.59	4.73	5.65	5.31	6.62	7.45	7.65	7.95
FFO Payout Ratio	67.92%	49.62%	55.52%	42.42%	51.32%	57.35%	49.27%	60.93%	65.03%	65.03%
NOI Margin	71.25%	70.56%	70.78%	71.11%	71.8%	71.53%	71.9%	72.5%	72.81%	72.72%
Net Debt / EBITDA	7.21x	7.12x	4.40x	3.97x	3.85x	3.84x	3.80x	4.02x	3.06x	2.53x
Debt / Assets	61.82%	60.45%	56.84%	51.87%	47.01%	48.67%	45.93%	46.68%	37.54%	30.43%
Interest Coverage	2.28x	2.48x	5.15x	5.67x	6.40x	7.21x	8.44x	8.73x	8.77x	12.29x
Book Value / Share	17.37	19.67	22.06	25.48	32.04	32.33	38.92	45.74	57.55	67.32
Revenue Growth	6.9%	7.68%	8.34%	9.07%	10.63%	9.74%	12.8%	18.94%	16.3%	12.73%

Frequently Asked Questions

Valuation & Price

EastGroup Properties, Inc. (EGP) has a price-to-earnings (P/E) ratio of 40.0x. This suggests investors expect higher future growth.

Growth & Financials

EastGroup Properties, Inc. (EGP) reported $696.2M in revenue for fiscal year 2024. This represents a 299% increase from $174.6M in 2011.

EastGroup Properties, Inc. (EGP) grew revenue by 12.7% over the past year. This is steady growth.

Yes, EastGroup Properties, Inc. (EGP) is profitable, generating $248.3M in net income for fiscal year 2024 (35.7% net margin).

Dividend & Returns

Yes, EastGroup Properties, Inc. (EGP) pays a dividend with a yield of 2.77%. This makes it attractive for income-focused investors.

EastGroup Properties, Inc. (EGP) has a return on equity (ROE) of 7.7%. This is below average, suggesting room for improvement.

Industry Metrics

EastGroup Properties, Inc. (EGP) generated Funds From Operations (FFO) of $428.2M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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