EastGroup Properties Declares $1.55 Quarterly Dividend, Marks 185th Consecutive Payment
EastGroup Properties Inc, an industrial real estate investment trust, declared a $1.55 per share quarterly cash dividend paid on April 15, 2026. The distribution represents the company's 185th consecutive quarterly payment to shareholders.
EastGroup Properties Inc (NYSE: EGP), an industrial real estate investment trust, declared a $1.55 per share quarterly cash dividend in the first quarter of 2026, which was paid on April 15, 2026. The distribution represents the company's 185th consecutive quarterly payment to shareholders. Read more dividend announcements.
The annualized dividend rate of $6.20 per share yields 3.1% based on the closing stock price of $201.79 on April 21, 2026. EastGroup has increased or maintained its dividend for 33 consecutive years, with increases in each of the last 14 years.
| Dividend Details | Information |
|---|---|
| Amount | $1.55 per share |
| Payment Date | April 15, 2026 |
| Frequency | Quarterly |
| Annualized Rate | $6.20 per share |
| Current Yield | 3.1% |
Development Activity and Financial Position
During the first quarter of 2026, EastGroup transferred two development projects totaling 562,000 square feet to its operating portfolio. The projects in Dallas and Charlotte had a cumulative cost of $69.3 million and were 51% leased as of April 21, 2026, with a projected stabilized yield of 7.3%.
The company has 14 development projects underway totaling 3.1 million square feet, which were 30% leased as of April 21, 2026. The projects have a projected total cost of $508.1 million, with $186.8 million remaining to be invested as of March 31, 2026.
Subsequent to the quarter end, EastGroup transferred three additional development projects totaling 407,000 square feet in Houston and Austin to the operating portfolio. Those projects were 91% leased as of April 21, 2026.
The company maintained debt-to-total market capitalization of 14.0% at March 31, 2026. Its interest and fixed charge coverage ratio stood at 14.8x for the three months ended March 31, 2026, while the debt to EBITDAre ratio was 3.0x for the same period.
In February 2026, Moody's Ratings upgraded EastGroup's issuer rating to Baa1 with a stable outlook from Baa2 with a positive outlook.