| Business Summary | | EastGroup
Properties
Inc.
is
an
equity
real
estate
investment
trust
(REIT)
focused
on
the
acquisition,
ownership
and
development
of
industrial
properties
in
Sunbelt
markets
throughout
the
United
States.
Its
strategy
for
growth
is
based
on
its
property
portfolio
orientation
toward
distribution
facilities
located
near
major
transportation
centers.
EastGroup's
portfolio
includes
17
million
square
feet
with
an
additional
913,000
square
feet
of
properties
under
development.
During
2000,
the
Company
expanded
its
portfolio
by
the
transfer
of
eight
properties
(664,000
square
feet)
from
industrial
development
to
industrial
properties
with
costs
of
$38,948,000,
through
acquisition
of
five
properties
(335,000
square
feet)
and
an
18-acre
land
parcel
with
total
costs
of
$13,628,000
and
through
capital
improvements
of
$10,611,000
on
existing
properties.
The
Company
also
seeks
to
grow
its
portfolio
through
the
acquisition
of
other
public
and
private
real
estate
companies
and
REITs. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | EastGroup
Properties
is
a
self-administered
real
estate
investment
trust
(REIT)
focused
on
the
ownership,
acquisition
and
development
of
industrial
properties
in
major
Sunbelt
markets
throughout
the
United
States.
For
the
six
months
ended
6/30/01,
revenues
rose
9%
to
$51.1
million.
Net
income
rose
45%
to
$13
million.
Results
reflect
higher
rental
income
due
to
acquisitions
and
rental
rate
increases
and
increased
gains
on
the
sale
of
real
estate
investments. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Leland Speed, 68 Chairman | $700K | -- | David Hoster, II, 55 CEO,
Pres | 524K | $5.9K | N. Keith McKey, 50 Exec.
VP, CFO, Sec. and Treasurer | 352K | -- | C. Bruce Corkern, 39 Sr.
VP, Controller | -- | -- | Anthony Bruno, 59 Sr.
VP | 486K | 5.5K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|