EastGroup Q2 FFO per share rises 11% to $1.91; same-store NOI up 6.4% cash

EASTGROUP PROPERTIES INC

2023-Q2 EPS reported $1.99 revenue$274,912,000

EPS $0.97 diluted vs $1.09 prior year due to no gains on real estate sales (vs $0.25 gain in 2022).
FFO per share $1.91 (+11%); FFO ex-casualties $1.89 (+9.9%).
Same property NOI ex-lease terminations +5.9% straight-line, +6.4% cash basis.
Operating portfolio 98.5% leased, 98.2% occupied; rental rate increases on new/renewal leases +52.8%.
Acquired one operating property ($34M) and 116.7 acres land ($18M); issued $163M in ATM equity at $169.72/sh.

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 0.9

EASTGROUP PROPERTIES INC reported the six months ended June 30, 2023 results: EPS $1.99 per diluted share.

Period: the six months ended June 30, 2023
EPS: $1.99 per diluted share
Result: reported results

Exact text from the filing

Diluted EPS for the six months ended June 30, 2023 was $1.99 compared to $2.62 for the same period of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EASTGROUP PROPERTIES INC reported the three months ended June 30, 2023 results: EPS $0.97 per diluted share.

Period: the three months ended June 30, 2023
EPS: $0.97 per diluted share
Result: reported results

Exact text from the filing

On a diluted per share basis, earnings per common share (“EPS”) were $0.97 for the three months ended June 30, 2023, compared to $1.09 for the same period of 2022.

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EASTGROUP PROPERTIES INC filing history →

Source: SEC EDGAR

accession 0000049600-23-000092

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