In short: "Probably one of your best holdings" and "should be a core holding" — infill shallow-bay distribution in high-growth markets, scarcity, strong leasing, conservative culture; just raised the dividend almost 13%. It is rich (premium valuation); the real risk is Sun Belt concentration.
EastGroup owns smaller warehouses tucked inside fast-growing cities (mostly the Sun Belt) — the "last-mile" spaces that are hard to build more of. Leasing is strong and it just raised its dividend almost 13%. Auerbach calls it a core holding.
The catch: the stock is expensive right now, and because it is concentrated in the Sun Belt, a slowdown there would hit it harder than anyone.
16:20— Probably one of your best holdings that you have. — great to hear. Okay. infill shallow bay distribution, high growth markets. The platform combines scarcity, strong leasing, a very experienced development team, a very conservative culture, and oh by the way, they just raised their dividend by almost 13% very very recently.
In short: His named US way to play the same industrial/logistics thesis as Tritax — "in the US we like East Group." Automation-driven retooling of obsolete warehouses means more tenant capex into the box, which is "good for the landlord."
EastGroup is the US way he'd play the warehouse thesis behind his Tritax pick — "in the US we like East Group." The logic is identical: little new supply was built while interest rates were high, and demand is now being pushed up by automation. As warehouse wages went from roughly $15 to $25–30 an hour, tenants finally started installing robots, which means retooling buildings and spending capital inside them — and a tenant who has just poured money into a facility is both stickier and more able to pay rising rent.
59:06for example, if you're military inclined, but then for your listeners that want to find other ways to benefit from that like domestically here in Canada you can invest in Dream in the US we like East Group — like Dream Industrial. — Yeah. So the point being is that we went through a period of time where there was too much space globally during COVID the industrial complex overearned right because we all were at home we were all adopting Shopify and Amazon and so
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