EastGroup Properties’ profit rises in first quarter of 2012
Published: April 20,2012
The real estate investment trust said Thursday that quarterly profit rose to $5.4 million, or 20 cents per share. That’s up 13 percent from $4.8 million, or 18 cents per share, in year-ago quarter.
Analysts polled by FactSet had predicted 23 cents per share, on average.
Quarterly revenue rose 8 percent to $46.8 million. Analysts had expected $45.1 million.
EastGroup said it is building a new warehouse in Orlando, Fla., one of eight under construction. It also said it paid $2.7 million for land in Tampa, Fla., and near Phoenix.
The company bought one warehouse in Tampa for $3.5 million in January and sold two there in February for $578,000.
Occupancy rose to 94 percent.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Bids on reworking Interstate 55 stretch are rejected
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- Hosemann to launch crowd funding program
- CFPB wants repay ability at center of new payday loan rules
- ALAN TURNER: Education in Mississippi – good and bad news
- Terminal upgrade on indefinite hold at Jackson International Airport
- JOSH MABUS: The Tao of Road House
- Answering the Bell: Interim Ole Miss law school dean well-regarded for directing hands-on clinical training