EastGroup (EGP) Expands Portfolio With Raleigh Acquisition [Yahoo! Finance]
EastGroup Properties, Inc. (EGP)
Last eastgroup properties, inc. earnings: 4/30 04:05 pm
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Source: Yahoo! Finance
This marks the company's foray into the Raleigh-Durham market. Backed by its population growth, diversified economic base and prominent universities, this market has been EGP's target market for several years. In January 2024, EastGroup acquired Spanish Ridge Industrial Park, comprising three developed business distribution buildings aggregating 231,000 square feet, for $54.86 million. Located in the Southwest submarket of Las Vegas, the buildings are 100% leased. Also in the same month, the company acquired Brightstar Land, a 34.3-acre parcel of development land in the I-20 West submarket of Atlanta, for $3.3 million. The site will accommodate the planned future development of two buildings containing roughly 315,000 square feet. EastGroup's performance is a testament to its strategic acumen. As of May 30, 2024, the REIT's portfolio boasted a solid 97.7% lease rate and a 97.0% occupancy rate. The company achieved substantial increases in rental rates, with 1.23 million square
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EGP
News
- EastGroup Properties, Inc. (NYSE: EGP) is now covered by analysts at BNP Paribas. They set a "neutral" rating and a $167.00 price target on the stock.MarketBeat
- EastGroup Properties, Inc. (NYSE: EGP) had its price target lowered by analysts at Mizuho from $185.00 to $175.00. They now have a "neutral" rating on the stock.MarketBeat
- EastGroup Properties Announces Recent Business Activity and Presentation at Nareit's REITweekPR Newswire
- EastGroup Properties Announces 178th Consecutive Quarterly Cash Dividend [Yahoo! Finance]Yahoo! Finance
- EastGroup Properties Announces 178th Consecutive Quarterly Cash DividendPR Newswire
EGP
Earnings
- 4/23/24 - Miss
EGP
Sec Filings
- 6/13/24 - Form 8-K
- 5/31/24 - Form 4
- 5/31/24 - Form 4
- EGP's page on the SEC website