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EastGroup Properties EGP FLORIDA — Properties subject to ground leases

Discontinued — last reported Q4 '23

Similar metrics at other companies

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MAAFL — Area Of Land
$2
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EXRFL — SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross
$3.89B+1.6%
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NREFFL — Loans And Leases Receivable Percentage Of Loan Portfolio
18.5%-3.6pp
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NREFFL — Percentage Of Loan Portfolio
8.4%+3.9pp
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CTREFlorida — Number of facilities
2+100%
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EXRFL — Gross carrying amount - Land
$708.71M+2.6%

Other financials

Income statement

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Revenue$190.3M+9.1%
Net income$94.6M+59.2%
EPS (diluted)$1.77+55.3%

Balance sheet

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Cash & equivalents$31.4M+52.9%
Total debt$1.8B+23.1%
Total equity$3.6B+6.9%
Total assets$5.5B+7.5%

Cash flow

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Operating cash flow$142.3M+6.5%
CapEx$15.6M-21.1%
Free cash flow$126.7M+11.2%

Valuation

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Market cap$10.75B+7.7%
Enterprise value$12.51B+9.7%
P/E36.7×-6.9×
P/S14.6×-0.5×

Profitability

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Operating margin36.1%
Net margin39.7%+5.1pp
FCF margin56.7%+0.8pp

Returns & leverage

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Return on equity8.5%+0.8pp
Debt / equity0.5×+0.1×

Where this comes from

Reported directly by EastGroup Properties in its filing.

Tagged under the XBRL concept egp:PropertiesSubjectToGroundLeases.

The official record: EastGroup Properties’s 10-K, filed February 14, 2024, on SEC EDGAR. View the filing →

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Questions, answered.

What is EastGroup Properties's FLORIDA — properties subject to ground leases?
EastGroup Properties (EGP) reported FLORIDA — properties subject to ground leases of 1 in Q4 2023.
What does FLORIDA — properties subject to ground leases mean?
The number of properties in the Florida portfolio that are built on land leased from a third party.
How do you interpret FLORIDA — properties subject to ground leases?
An increase suggests higher exposure to ground lease expiration risks and potential rent escalation, while a decrease indicates a shift toward fee-simple ownership and greater long-term control.
How does FLORIDA — properties subject to ground leases compare across companies?
Peer REITs often disclose ground lease exposure as a percentage of total portfolio value to assess land tenure security.