EastGroup Properties Q3 FFO per share rises 7.9% on rent increase

By Reuters News


Overview

  • US industrial REIT reported Q3 net income per share up yr/yr

  • Q3 FFO per share rose 7.9% yr/yr

  • Company raised quarterly dividend by 12.9% to $1.75 per share


Outlook

  • EastGroup sees 2026 EPS between $5.99 and $6.05

  • Company expects 2026 FFO per share of $9.62 to $9.68

  • EastGroup raises 2026 development starts guidance to $390 mln and acquisitions to $360 mln


Result Drivers

  • PROPERTY INCOME GROWTH - Co said higher property net operating income was driven by same property operations, newly developed and value-add properties, and recent acquisitions

  • RENTAL RATE INCREASES - Co reported new and renewal leases signed in Q3 had an average rental rate increase of 36.3% on a straight-line basis

  • HIGH OCCUPANCY - Co said same property average occupancy remained high at 96.9% in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$1.46

Q3 Net Income

$78.38 mln

Q3 Dividend

$1.75

Q3 FFO Per Share

$2.45


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 5 "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 $230.00, about 14.3% above its October 20 closing price of $201.25

  • The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 36 three months ago


Reuters Recommended Reads

  • Oct 21 - Real estate investment trust UDR raises 2026 outlook

  • Oct 20 - Agree Realty Q3 net income per share up 18.5%; raises FY26 AFFO guidance

  • Oct 20 - AI data center projects boost US warehouse demand and rents, real estate company JLL says


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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