EastGroup Q3 FFO $1.55/share (+14% YoY); dividend raised 13.9% to $0.90

EASTGROUP PROPERTIES INC

2021-Q3 EPS reported $2.13 revenue$302,103,000

Net income $0.76 diluted EPS vs $0.62 a year ago; FFO $1.55 per share, up 14.0% YoY.
Same property NOI (ex-lease terminations) up 5.2% cash, 6.9% straight-line; portfolio 98.8% leased.
Rental rates on new/renewal leases increased 37.4% straight-line; acquired 661K sq ft for $95M.
Dividend raised 13.9% to $0.90/share (167th consecutive); refinanced $100M term loan at 2.10%.
Started 9 developments (1.31M sq ft, $153M total); issued 279K shares via ATM for $49M net.

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