---
schema_version: "secwatch.filing_event.v1"
accession: "0000049600-23-000060"
form_type: "8-K"
ticker: "EGP"
cik: "0000049600"
company_name: "EASTGROUP PROPERTIES INC"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T17:16:25.439418+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000049600-23-000060
- form_type: 8-K
- ticker: EGP
- cik: 0000049600
- company_name: EASTGROUP PROPERTIES INC
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49600/000004960023000060/0000049600-23-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49600/000004960023000060/egp-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000049600-23-000060
- JSON: https://secwatch.observer/filing/0000049600-23-000060.json
- Plain text: https://secwatch.observer/filing/0000049600-23-000060.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/49600/000004960023000060/0000049600-23-000060-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.