Eastgroup Properties (EGP) Tops Q3 EPS by 2c
Get Alerts EGP Hot Sheet
Price: $158.55 -0.42%
EPS Growth %: +2.9%
Financial Fact:
Income from real estate operations: 63.18M
Today's EPS Names:
MAXN, CSTR, ACU, More
EPS Growth %: +2.9%
Financial Fact:
Income from real estate operations: 63.18M
Today's EPS Names:
MAXN, CSTR, ACU, More
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Eastgroup Properties (NYSE: EGP) reported Q3 EPS of $0.62, $0.02 better than the analyst estimate of $0.60.
- Net Income Attributable to Common Stockholders of $0.62 Per Share for Third Quarter 2020 Compared to $0.60 Per Share for Third Quarter 2019
- Funds from Operations of $1.36 Per Share for Third Quarter 2020 Compared to $1.28 Per Share for Third Quarter 2019, an Increase of 6.3%
- Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations for Third Quarter 2020 Increased 3.0% on a Cash Basis and 2.3% on a Straight-Line Basis Compared to Third Quarter 2019
- 97.8% Leased and 96.4% Occupied as of September 30, 2020; Average Occupancy of 96.6% for the Third Quarter 2020
- Rental Rates on New and Renewal Leases Increased an Average of 28.0% on a Straight-Line Basis
- Transferred Seven Development Projects (899,000 Square Feet) to the Real Estate Portfolio
- Development and Value-Add Program Consisted of 13 Projects (2.2 Million Square Feet) at September 30, 2020 with a Projected Total Investment of $227 Million
- Declared 163rd Consecutive Quarterly Cash Dividend - Increased the Dividend by $0.04 Per Share (5.3%) to $0.79 Per Share
- Issued 238,086 Shares of Common Stock Pursuant to the Company\'s Continuous Common Equity Offering Program at an Average Price of $133.27 Per Share for Aggregate Net Proceeds of $31.4 Million
- Remaining Available Capacity of $318 Million on the $395 Million Lines of Credit as of September 30, 2020
- Entered into a Note Purchase Agreement on a Private Placement of Senior Unsecured Notes Totaling $175 Million With a Weighted Average Fixed Interest Rate of 2.65%
- $75 Million of Debt Maturities Remaining During the Year 2020 With a Weighted Average Fixed Interest Rate of 3.45% and $45 Million in Planned Early Debt Repayments During the Remainder of 2020 With a Fixed Interest Rate of 4.39%
For earnings history and earnings-related data on Eastgroup Properties (EGP) click here.
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