EastGroup Q1 FFO per share rises 9.5% to $1.84; occupancy 98.7%

EASTGROUP PROPERTIES INC

2023-Q1 EPS reported $1.02 revenue$135,025,000

Net income per diluted share $1.02 vs $1.54 YoY, lowered by smaller gains on sales.
Same property NOI (ex lease terminations) up 7.6% straight-line, 11.0% cash basis.
Operating portfolio 98.7% leased; rental rate spreads on new/renewals +48.5% straight-line.
Started 4 development projects (1,033,000 sq ft, ~$141M total cost); sold one property for $10M.
Closed $100M senior unsecured term loan (7-year, 5.27% fixed); credit facility capacity expanded to $675M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EASTGROUP PROPERTIES INC reported the three months ended March 31, 2023 results: EPS $1.02 per diluted share.

Period: the three months ended March 31, 2023
EPS: $1.02 per diluted share
Result: reported results

Exact text from the filing

On a diluted per share basis, earnings per common share (“EPS”) were $1.02 for the three months ended March 31, 2023, compared to $1.54 for the same period of 2022.

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Source: SEC EDGAR

accession 0000049600-23-000060

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