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EastGroup Properties (EastGroup Properties) Effective Interest Rate on Debt % : 2.20% (As of Mar. 2024)


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What is EastGroup Properties Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. EastGroup Properties's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $37.3 Mil. EastGroup Properties's average total debt for the quarter that ended in Mar. 2024 was $1,696.5 Mil. Therefore, EastGroup Properties's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 2.20%.


EastGroup Properties Effective Interest Rate on Debt % Historical Data

The historical data trend for EastGroup Properties's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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EastGroup Properties Effective Interest Rate on Debt % Chart

EastGroup Properties Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.99 2.69 2.35 2.17 2.52

EastGroup Properties Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.66 2.66 2.45 2.45 2.20

Competitive Comparison of EastGroup Properties's Effective Interest Rate on Debt %

For the REIT - Industrial subindustry, EastGroup Properties's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


EastGroup Properties's Effective Interest Rate on Debt % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, EastGroup Properties's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where EastGroup Properties's Effective Interest Rate on Debt % falls into.



EastGroup Properties Effective Interest Rate on Debt % Calculation

EastGroup Properties's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -45.048/( (1883.789+1696.467)/ 2 )
=-1  *  -45.048/1790.128
=2.52 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1715.335 + 168.454
=1883.789

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1697.987 + -1.52
=1696.467

EastGroup Properties's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2023 )+Total Debt  (Q: Mar. 2024 ))/ count )
=-1  *  -37.32/( (1696.467+1696.499)/ 2 )
=-1  *  -37.32/1696.483
=2.20 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1697.987 + -1.52
=1696.467

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1697.78 + -1.281
=1696.499

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


EastGroup Properties  (NYSE:EGP) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


EastGroup Properties Effective Interest Rate on Debt % Related Terms

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EastGroup Properties (EastGroup Properties) Business Description

Industry
Traded in Other Exchanges
Address
400 West Parkway Place, Suite 100, Ridgeland, MS, USA, 39157
EastGroup Properties Inc is an equity real estate investment trust. It is engaged in the development, acquisition, and operation of industrial properties in major Sunbelt markets throughout the United States, primarily in the states of Florida, Texas, Arizona, California, and North Carolina. The company manages a portfolio of industrial properties. The vast majority of these properties are multi-tenant business distribution buildings that provide large warehousing and office space for customers. Properties located in Texas and Florida account for most of EastGroup's total real estate portfolio. The company derives its revenue in the form of rental income.
Executives
John F Coleman officer: Executive Vice President 7003 PRESIDENTS DRIVE, STE 800, ORLANDO FL 32701
Richard Reid Dunbar officer: Senior Vice President 190 EAST CAPITOL STREET, SUITE 400, JACKSON MS 39201
Eaves Hayden C Iii director 201 S LAKE AVE, STE 501, PASADENA CA 91101
David Michael Fields director 34 OAK TRAIL COURT, ALAMO CA 94507
Staci H. Tyler officer: Senior VP, CAO and Secretary EASTGROUP PROPERTIES, INC., 400 W. PARKWAY PLACE, SUITE 100, RIDGELAND MS 39157
Leland R Speed director
Hoster David H Ii director 188 EAST CAPITAL STREET, 300MONE JACKSON PLACE, JACKSON MS 39201
Katherine M Sandstrom director 4600 SOUTH SYRACUSE STREET, SUITE 500, DENVER CO 80237
Bailey H C Jr director 1052 HIGHLAND COLONY PARKWAY, STE 202, RIDGELAND MS 39157
Brent Wood officer: Executive Vice President & CFO 188 E CAPITOL ST, 300 ONE JACKSON PL, JACKSON MS 39201
Donald F Colleran director 942 SOUTH SHADY GROVE ROAD, MEMPHIS TN 38117
D Pike Aloian director C/O ROTHSCHILD REALTY INC, 1251 AVENUEOF THE AMERICAS, NEW YORK NY 10020
Mary E Mccormick director 188 E. CAPITOL STREET, 300 ONE JACKSON PLACE, JACKSON MS 39201
Bolton H Eric Jr director
Marshall A Loeb director, officer: President and CEO C/O EASTGROUP PROPERTIES, INC., 190 EAST CAPITOL STREET, JACKSON MS 39201