EastGroup Acquires Austin Property, Sees Healthy Leasing Activity [Yahoo! Finance]
EastGroup Properties, Inc. (EGP)
Last eastgroup properties, inc. earnings: 4/30 04:05 pm
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Source: Yahoo! Finance
With this, the REIT's ownership in Austin reached around 1,756,000 square feet. Developed in 2022, this property, which comprised two industrial buildings totaling 179,000 square feet, is fully leased to five tenants. EastGroup's performance is a testament to its business acumen. As of Sept 4, 2024, the REIT's portfolio boasted a solid 97.0% lease rate and a 96.8% occupancy rate. The company achieved substantial increases in rental rates, with 1.36 million square feet of new and renewal leases signed so far in the third quarter, showing a remarkable average growth of 51.2% on a straight-line basis and 35.8% on a cash basis. So far in the current quarter, EGP has commenced construction of two development projects located in Houston and Austin. The projects will contain around 310,000 square feet of space with a projected total cost of around $40 million. Moreover, reflecting solid demand for its properties, the company executed five leases on development properties aggregating 250,
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News
- Buy These 3 Stocks Yielding Up To 6.6% For Income And Dividend Growth Right Now – Surprisingly Not On Many's Radar [Yahoo! Finance]Yahoo! Finance
- This Stock Turned $1,000 Into $7,234 Over The Past 20 Years. Is It Too Late To Buy Now? [Yahoo! Finance]Yahoo! Finance
- EastGroup Properties, Inc. (NYSE: EGP) was upgraded by analysts at Evercore ISI from an "in-line" rating to an "outperform" rating. They now have a $204.00 price target on the stock, up previously from $192.00.MarketBeat
- These 3 REITs Just Got An Upgrade [Yahoo! Finance]Yahoo! Finance
- EastGroup Properties Announces Recent Business Activity and Participation in Upcoming Conferences [Yahoo! Finance]Yahoo! Finance
EGP
Earnings
- 7/23/24 - Beat
EGP
Sec Filings
- 9/16/24 - Form 4
- 9/16/24 - Form 4
- 9/16/24 - Form 4
- EGP's page on the SEC website