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EastGroup Properties
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Latest analysis
Updated Jul 23, 2026
EastGroup posts record 3.9M sq ft leasing quarter, raises FFO midpoint to $9.59 and development starts to $325M on accelerating data center supplier demand.
EastGroup delivered its strongest leasing quarter on record at 3.9 million square feet — half of it new leasing — driven by a combination of data center supplier tenants (40% of Q1 development leasing, 20% in Q2), nearshoring activity, and tenant expansion decisions that had been delayed by macro uncertainty. Management raised the 2026 FFO guidance midpoint by $0.03 to $9.59 per share, increased development starts guidance by $60 million to $325 million, and lifted same-store NOI guidance midpoint by 60 basis points to 6.8%, reflecting occupancy running 30 basis points above prior guidance. The primary constraint on near-term FFO upside is timing: record development leasing signed in Q2 will not contribute meaningfully to 2026 NOI due to permitting and buildout lead times, with the bulk of that income impact flowing into 2027.
Tone: bullishRevenue
$721.3M
EGP 10-K · FY 2025
Employees
103
Revenue FY2024
$640.2M
Founded
1969
Profile
EGP 10-K Item 1 · Feb 11, 2026EastGroup Properties is an internally-managed equity REIT focused on the development, acquisition and operation of industrial properties in high-growth U.S. markets, primarily Texas, Florida, California, Arizona and North Carolina. The company targets functional business distribution space in the 20,000 to 100,000 square foot range, clustered near major transportation features in supply-constrained submarkets. As of December 31, 2025, EastGroup owned 550 industrial properties across 12 states totaling approximately 65 million square feet.
Read filing description ↓ Collapse description ↑
EastGroup Properties, Inc. is an internally-managed equity REIT first organized in 1969. EastGroup is focused on the development, acquisition and operation of industrial properties in high-growth markets throughout the United States, primarily in the states of Texas, Florida, California, Arizona and North Carolina. EastGroup's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup'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 20,000 to 100,000 square foot range). As of December 31, 2025, EastGroup owned 550 industrial properties in 12 states. The Company's portfolio, including development projects and value-add properties in lease-up and under construction, included approximately 65,000,000 square feet consisting of 510 business distribution properties containing 59,300,000 square feet, 19 bulk distribution properties containing 4,900,000 square feet, and 21 business service properties containing 800,000 square feet. EastGroup's operating portfolio was 97.0% leased to tenants in approximately 1,700 leases, with no single tenant accounting for more than approximately 1.5% of the Company's annualized base rent. The company develops approximately 50% of its total portfolio on a square foot basis and funds its programs primarily through $675,000,000 in unsecured bank credit facilities.
Primary products
- Business distribution space
- Bulk distribution space
- Business service space
- Development and value-add properties
Business segments
End markets
Geographies
“EastGroup's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets.” Competitive position, as stated in the filing
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