JACKSON, Miss., May 6, 2019 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) announced today that it will be added to the S&P MidCap 400. The Company will be removed from its current membership in the S&P SmallCap 600 and added to the S&P MidCap 400 effective at the open of trading on Tuesday, May 7, 2019.
"While growth for growth's sake is never one of our goals, we are gratified by our addition to the S&P MidCap 400 Index. This inclusion is a reflection of our creation of shareholder value and increase in liquidity," said Marshall Loeb, Chief Executive Officer. "As an S&P MidCap 400 member, we look forward to continuing what got us here – creating shareholder value and prudent capital allocation while maintaining a strong and flexible balance sheet."
EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina. The Company's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup's portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes 42.6 million square feet.
EastGroup Properties, Inc. press releases are available at www.eastgroup.net.
SOURCE EastGroup Properties