EastGroup Properties Q3 profit rises on rental rate increases

EastGroup Properties

23/10/2025 21:16

Overview

EastGroup Q3 2025 EPS rises to $1.26 from $1.13 yr/yr

FFO for Q3 2025 increases 6.6% yr/yr

Company raises dividend by 10.7% to $1.55 per share

Outlook

EastGroup revises 2025 EPS guidance to $4.85-$4.89

Company forecasts 2025 FFO per share of $8.94-$8.98

EastGroup expects same PNOI growth of 6.4%-7.0% for 2025

Result Drivers

RENTAL RATE INCREASES - Rental rates on new and renewal leases increased an average of 35.9% on a straight-line basis

ACQUISITIONS - Acquired three operating properties in Raleigh and Dallas totaling 638,000 square feet for $122 mln

DEVELOPMENT PROJECTS - Started construction of a 161,000 square foot development project in Dallas with a projected cost of $27 mln

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$1.26
Q3 Net Income
$66.95 mln
Q3 Dividend
$1.55


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy"

Wall Street's median 12-month price target for Eastgroup Properties Inc is $184.50, about 2.3% above its October 21 closing price of $180.27

The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 33 three months ago

Press Release: ID:nPn6BDfva

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)