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EastGroup Properties (NYSE:EGP) is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the U.S. with an emphasis in the states of Texas, Florida, California, Arizona and North Carolina.
If You Bought EastGroup Properties Stock 10 Years Ago
The company's stock traded at approximately $61.13 per share 10 years ago. If you had invested $10,000, you could have bought roughly 164 shares. Currently, shares trade at $179.27, meaning your investment's value could have grown to $29,326 from stock price appreciation alone. However, EastGroup Properties also paid dividends during these 10 years.
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EastGroup Properties' dividend yield is currently 3.12%. Over the last 10 years, it has paid about $34.83 in dividends per share, which means you could have made $5,698 from dividends alone.
Summing up $29,326 and $5,698, we end up with the final value of your investment, which is $35,024. This is how much you could have made if you had invested $10,000 in EastGroup Properties stock 10 years ago. This means a total return of 250.24%. In comparison, S&P 500 total return for the same period is 222.31%.
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What Could The Next 10 Years Bring?
EastGroup Properties has a consensus rating of "Outperform" and a price target of $188.7 based on the ratings of 20 analysts. The price target implies more than 5% potential upside from the current stock price.
On Feb. 6, the company announced its Q4 2024 earnings, posting FFO of $2.15, in line with expectations, and revenues of $163.767 million, missing the consensus estimate of $166.314 million, as reported by Benzinga.
“Our consistent, positive performance continues as evidenced by FFO per share excluding gain on involuntary conversion and business interruption claims rising 5.9% for the quarter and 7.9% for the year. The industrial market remains resilient as supported by our Company’s record amount of square footage leased last quarter. Further, the operating landscape is improving with a materially shrinking industrial supply pipeline, while customer demand is showing early signs of recovery," CEO Marshall Loeb said.