Tue, May 5, 10:31 AM
- A big move higher in interest rates continues, with the 10-year Treasury yield up another six basis points to 2.20% - roughly the level at which it started the year (it fell as low as 1.65% in early February).
- The move here is small-time compared to what's going on across the pond, as the absurd levels of two weeks ago become somewhat less absurd. Ten-year Bund yields are up to 0.51% from 0.05%. Italian 10-years are up 30 bps today to 1.78%, with a similar move in Spain.
- The IYR is down 1.1%.
- Individual names: Realty Income (O -1.3%), Senior Housing Properties (SNH -1.5%), Medical Properties Trust (MPW -2.4%), Gramercy Property Trust (GPT -1.8%), Equity Residential (EQR -1.4%), AvalonBay (AVB -1.5%), Government Properties (GOV -2.3%), Pebblebrook Hotel (PEB -2%), Eastgroup Properties (EGP -1.6%), American Campus (ACC -1.4%).
- Mortgage REITS (REM -0.6%) are outperforming the equity names: Annaly (NLY -0.7%), American Capital Agency (AGNC -0.6%), Two Harbors (TWO -0.7%), CYS Investments (CYS -0.3%), Invesco (IVR -0.2%).
Mon, Apr. 20, 10:29 AM
- Commercial real estate may be getting perky and the industrial names are outliers to the upside in the REIT sector today after Prologis' $5.9B purchase of KTR Capital Partners, announced over the weekend.
- First Industrial Realty (FR +1.5%), DCT Industrial Trust (DCT +1.6%), Eastgroup Properties (EGP +1.2%), Chambers Street (CSG +1.4%).
- ETFs: IYR, VNQ, DRN, URE, SCHH, ICF, SRS, RWR, KBWY, DRV, REK, FRI, FTY, PSR, FREL, WREI
- Previously: Prologis inks $5.9B portfolio purchase deal (April 19)
Thu, Apr. 16, 4:18 PM
- Q1 FFO of $28.1M or $0.87 per share vs. $25.4M and $0.82 one year ago.
- Same-property NOI growth of 2.9%; up 4.4% without straight-line rent adjustments. Dividend is $0.57 per share.
- Properties 97% leased, 96.2% occupied as of March 31, up from 96% at the end of Q3; renewed or re-leased 95% of expiring square feet during quarter.
- 2015 outlook is boosted to FFO of $3.60-$3.70 per share, putting the midpoint $0.03 higher than previously.
- Conference call tomorrow at 11 ET
- Previously: Eastgroup Properties FFO in-line, misses on revenue (April 16)
- EGP flat after hours.
Thu, Apr. 16, 4:03 PM| Comment!
Wed, Apr. 15, 5:35 PM
Fri, Apr. 10, 9:52 AM
- Chambers Street Properties (CSG +1.3%) and Rexford Industrial Realty (REXR +1.5%) are both started with Buys. Also rated Buy is Terreno Realty (TRNO +0.6%).
- Initiated at Neutral are Duke Realty (DRE +0.4%), Eastgroup Properties (EGP +1.8%), Monmouth Real Estate (MNR), and Stag Industrial (STAG +0.3%).
Fri, Mar. 6, 10:59 AM
Mon, Feb. 2, 4:28 PM
- Q4 FFO of $29.2M or $0.91 per share vs. $25.7M and $0.84 one year ago. Dividend is $0.57.
- Same property NOI growth of 3.1%; up 5.8% without straight-line rent adjustments.
- Portfolio 96.7% leased, 96.3% occupied as of Dec. 31.
- Rental rates on new and renewal leases up an average of 7.6% during quarter.
- 2015 outlook: FFO per share of $3.57-$3.67 (was $3.47 in 2014).
- Previously: Eastgroup Properties FFO in-line, beats on revenue (Feb. 2)
- EGP flat after hours
Mon, Feb. 2, 4:05 PM| Comment!
Thu, Jan. 22, 4:32 PM
- Marshall Loeb - who was with EastGroup (NYSE:EGP) from 1991-2000, and then was CFO of Parkway Properties and COO of Glimcher Realty Trust - has been appointed President and COO, effective March 1, and will succeed David Hoster II as CEO, effective Jan. 1, 2016.
- Hoster will become chairman of the board on Jan. 1, succeeding Leland Speed, who will remain as chairman emeritus.
- Source: Press Release
Wed, Jan. 21, 10:08 AM
- Upgraded to Outperform from Neutral: Ashford Trust (AHT +1.1%), Camden Property Trust (CPT +0.1%), DDR (DDR +0.4%), Eastgroup Properties (EGP +0.3%), Host Hotels (HST -0.1%), Strategic Hotels (BEE +0.3%).
- Upgraded to Neutral from Underperform: Kilroy Realty (KRC +0.4%).
- Downgraded to Underperform from Neutral: Equity One (EQY -0.4%), Macerich (MAC -0.3%), Vornado Realty (VNO -0.7%).
- Downgraded to Neutral from Outperform: Kimco Realty (KIM -0.5%).
Dec. 8, 2014, 10:10 AM
Dec. 5, 2014, 1:21 PM
Dec. 3, 2014, 7:36 AM
Oct. 16, 2014, 4:58 PM
- Q3 FFO per share of $0.89 vs. $0.83 in Q313. Recent dividend of $0.57.
- Occupancy of 96.2%
- Same store NOI growth of 3.7%
- Rents on renewed and new leases up 6.9%.
- Confernece call Oct 17 at 11 ET. Webcast here.
- EGP no trades AH
- Previous: Eastgroup Properties beats by $0.01, beats on revenue
Oct. 16, 2014, 4:20 PM| Comment!
EGP vs. ETF Alternatives
EastGroup Properties, Inc. is engaged in the development, acquisition and operation of industrial properties in Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
Other News & PR