TRNO - EastGroup Properties: A Great Dividend Pick At A Great Premium

2024-01-25 10:58:28 ET

Summary

• EastGroup Properties is a REIT that develops, acquires, and operates industrial assets in major Sunbelt markets.
• The company has a great portfolio, has been growing fast, and is conservatively financed with strong liquidity.
• The dividend coverage is also adequate with a good margin for further increases and the payment record indicates impressive growth.
• However, the shares are trading at a great premium to NAV, so value investors may want to look elsewhere.

EastGroup Properties, Inc. ( EGP ), founded in 1969 and headquartered in Ridgeland, MS, is a REIT that develops, acquires, and operates industrial assets in major Sunbelt markets across the country....

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