The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Christopher Michael McCurry - Citigroup Inc., Research Division - Analyst
: This is Chris McCurry on with Manny. Just a quick follow-up on investment activity. So you guys bought a lot of land in 4Q. I was just wondering,
could you comment on some of your plans for the use of that land?
Question: Christopher Michael McCurry - Citigroup Inc., Research Division - Analyst
: Got it. And just a quick follow-up. I was wondering if you could comment on some small tenant trends. Are there any specific industries that are
challenged or has the competitive landscape for some of your smaller tenants changed at all?
Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst
: I wanted to touch on, I guess, the land purchases, I guess, so far to date that you guys were kind of highlighting earlier on the call. I guess, Marshall,
did I hear you correctly in your prepared remarks that you're active looking for more land? Is there more closures that we should expect to get
done here over the next several months?
Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst
: And can you talk a little bit about the valuations of land right now? I mean, how much have those prices appreciated? And then I guess, just last
one for me off of that. The development starts that you have planned to break ground on this year, is all those projects basically identified on land
that you currently own?
Question: William Andrew Crow - Raymond James & Associates, Inc., Research Division - Analyst
: Appreciate it. Can you hear me?
Question: William Andrew Crow - Raymond James & Associates, Inc., Research Division - Analyst
: Marshall, I want to preface my question by just thanking you for the shout out to Leland, who not only was the founder of EastGroup and Parkway,
but really an early pioneer of the REIT space in general. So I appreciate that. And I think a lot of the people on the phone appreciate that. My question
really is whether you're seeing any material changes on tenant investment levels into your properties? We all think about automation and being
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FEBRUARY 10, 2021 / 4:00PM, EGP.N - Q4 2020 Eastgroup Properties Inc Earnings Call
big box. And I'm just wondering if you're seeing anything that any trend changes on your tenants' part? And any changes in trends, longer-term
trends on TIs?
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