EastGroup Properties
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EastGroup Properties is a self-administered equity REIT focused on industrial properties located in the U.S. Sunbelt, especially the states of California, Florida, Texas and Arizona.
EastGroup (NYSE:EGP) has 25.1 million square feet of operating facilities, with an additional 2.0 million square feet of industrial properties under development. This includes warehouse/distribution space for tenants who need from 5,000 to 50,000 square feet.
They outline their plan as creating shareholder value through a three-pronged strategy: Targeting developments in submarkets, Recycling of capital, Internal growth of the company's assets.
Their properties include: Yosemite Distribution Center in San Francisco California, Shaw Distribution Center, University Business Center, Castilian Research Center, Butterfield Trail, Arion Business Park, SunCoast Commerce Center II, Chancellor Center, Rampart Distribution Center I, II & III, and Linpro Commerce Center.
They also have a DRIP (dividend reinvestment plan) for investors to buy stock without paying broker commissions.
EGP is a real estate investment trust that should prosper so long as the southern United States has a booming economy. They are diversified within that region, so that local downturns shouldn't affect them much.
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