Starting a new position in $EGP here. Last quarter, around these prices was where the business issued more shares, making this a supported buy area.

They're returned over 13% CAGR over the last 20 years, and with the US moving to pad manufacturing at home, industrial REITs like EGP will only continue to benefit.

$EGP builds, acquires, and renovates industrial spaces in major sunbelt states with an emphasis on location, not lease rates. Their customer base is well diversified, most of their revenues come from tenants leasing space under 100,000 sf (this is huge, as most of the vacancies I can research are happening in much larger facilities), their growth strategy of recycling capital out of limited upside projects and into better growth prospects in targeted areas has worked well, and they have strong and flexible balance sheet to support continued growth prospects.

I can’t speak to the eastern states in their portfolio, but through my banking career in financing industrial projects I can say that California, Arizona, and Texas are super hot markets for their kind of products.