secwatch.observer — SEC 8-K summary
======================================

Issuer:     EASTGROUP PROPERTIES INC (EGP)
CIK:        0000049600
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0000049600-23-000092
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49600/000004960023000092/0000049600-23-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49600/000004960023000092/egp-20230725.htm
  HTML page:      https://secwatch.observer/filing/0000049600-23-000092

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer