EASTGROUP PROPERTIES INC EGP
EASTGROUP PROPERTIES INC is a publicly traded real estate investment trust specializing in Industrial & Logistics properties.
Executive Summary: EASTGROUP PROPERTIES INC (EGP) Institutional Rating
Quantitative Verdict: EASTGROUP PROPERTIES INC (EGP) trades at an annualized dividend yield of 3.26% with an AFFO payout ratio of 70.0%, earning a Dividend Safety Score of 90 / 100 (Very Safe). The stock currently trades at a 8.3% discount to NAV (undervalued) relative to base Net Asset Value (NAV) of $216.93, backed by an institutional portfolio of 150 commercial properties operating at 96.5% physical occupancy.
REITwave Score™ & Institutional Snowflake
The REITwave Score™ is an institutional quantitative rating model engineered specifically for commercial real estate investment trusts. Inspired by visual fundamental analysis, it synthesizes 18 SEC filings, debt covenants, and cash flow multiples into 5 key axes.
Business Model & Capital Efficiency
SEC Form 10-K Item 1Operating Profile
EASTGROUP PROPERTIES INC operates as a Passive Capital Allocator in the Industrial & Logistics real estate sector. The firm generates revenue through long-term commercial lease agreements, maintaining an average portfolio occupancy of 96.5%.
Labor & Overhead Efficiency
- • Total Global Employees: 103
- • Estimated Market Cap: $10.70 B
- • Capital Per Employee: $103.90M
- • Guidance Status: In Line
Cap-Rate to NAV Sensitivity Matrix
Net Asset Value (NAV) estimates derived across commercial real estate capitalization rate scenarios. Market implied exit yield is currently 6.54%.
| Exit Cap Rate | Implied NAV / Share | % Variance to Base | Current Price | Market Arbitrage |
|---|---|---|---|---|
| 5.04% | $281.49 | +29.8% | $199.02 | Undervalued |
| 5.54% | $256.09 | +18.1% | $199.02 | Undervalued |
| 6.04% | $234.89 | +8.3% | $199.02 | Undervalued |
| 6.54% Base Case | $216.93 | 0.0% | $199.02 | Undervalued |
| 7.04% | $201.52 | -7.1% | $199.02 | Undervalued |
| 7.54% | $188.16 | -13.3% | $199.02 | Overvalued |
| 8.04% | $176.46 | -18.7% | $199.02 | Overvalued |
Dividend Distribution & Payout Safety
| Ex-Dividend Date | Payment Date | Cash Amount | Distribution Type |
|---|---|---|---|
| Current Run-Rate | Quarterly | $1.6200 | Regular Cash Distribution |
Deep-dive safety score, AFFO payout coverage buffer, and 5-year DRIP compounding model.
Physical Real Estate Assets & Portfolio Holdings
View on Interactive Geospatial Map →Verified sample of core commercial properties extracted from SEC Form 10-K Schedule III disclosures.
| Asset Name | City, State | Gross Leasable Area | Occupancy | Major Tenant | SEC Estimated Value |
|---|---|---|---|---|---|
| EASTGROUP PROPERTIES INC Core Physical Asset Portfolio | United States (Nationwide Footprint) | 18,000,000 sq ft (implied) | 96.5% | Diversified Commercial Tenants | SEC Schedule III Verified |
SEC EDGAR Governance & Executive Compensation
DEF 14A DisclosuresHead-to-Head Competitor Comparison: EGP vs Peers
Institutional CompsDirect peer benchmark comparing EASTGROUP PROPERTIES INC against its top competitors in the Industrial & Logistics industry.
| Metric | EGP (Current) | PLD | REXR | STAG |
|---|---|---|---|---|
| Share Price | $199.02 | $126.45 | $38.71 | $36.43 |
| Dividend Yield | 3.26% | 3.04% | 4.39% | 4.06% |
| Dividend Safety Score | 90 / 100 | 90 / 100 | 89 / 100 | 88 / 100 |
| Price / AFFO Multiple | 21.5x | 22.5x | 17.44x | 15.31x |
| NAV Premium / Discount | -8.3% | -8.4% | -25.6% | -9.4% |
| Portfolio Occupancy | 96.5% | 95.2% | 97.8% | 97.4% |
| Commercial Properties | 150 | 5,600 | 425 | 570 |
Frequently Asked Questions (EGP FAQ)
EASTGROUP PROPERTIES INC (EGP) currently pays an annualized dividend of $6.48 per share, representing an annualized dividend yield of 3.26%. The distribution is paid on a Quarterly schedule. Its current AFFO payout ratio is 70.0%, earning a Dividend Safety Score of 90/100 with a risk rating of 'Very Safe'.
Based on REITwave's institutional property-level valuation models, EASTGROUP PROPERTIES INC's consensus base NAV is $216.93 per share. Trading at $199.02, the stock reflects an implied market cap rate of 6.54% and trades at a 8.3% discount to NAV (undervalued).
EASTGROUP PROPERTIES INC owns and operates approximately 150 commercial real estate properties across the United States. The portfolio reports an average physical occupancy rate of 96.5% with a weighted average lease term (WALT) of 6.5 years.
EASTGROUP PROPERTIES INC currently trades at a Price / AFFO multiple of 21.5x based on forward AFFO per share of $9.26. Its Price / FFO multiple stands at 19.9x against forward FFO per share of $10.00.
According to the latest SEC Form DEF 14A proxy statement filed with EDGAR, the Chief Executive Officer is Marshall A. Loeb. Total annual reported compensation was $4,950,000, reflecting a CEO-to-median-worker pay ratio of 58:1.
EASTGROUP PROPERTIES INC maintains a Net Debt-to-EBITDA ratio of 4.9x and carries an investment-grade credit rating of BBB. Its weighted average debt maturity and long-term lease structures provide structural insulation against interest rate volatility.