EastGroup Properties Q3 FFO per share $2.00, up 13% YoY; same-property NOI up 6.9% cash

EASTGROUP PROPERTIES INC

2023-Q3 EPS reported $3.06 revenue$421,442,000

Diluted EPS $1.07 vs $0.87 YoY; FFO $2.00/share vs $1.77, up 13.0%.
Same property NOI (cash) +6.9%; rental rates on new/renewal leases up 55.4% straight-line.
Operating portfolio 98.5% leased, 97.7% occupied; average occupancy 97.7% for Q3.
Acquired one operating property for $53M and 93.4 acres of development land for $27M.
Repaid $50M unsecured debt at 3.8%, repaid mortgage leaving no secured debt; refinanced $100M term loan to 2.61%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EASTGROUP PROPERTIES INC reported Third quarter ended September 30, 2023 results: net income Net Income Attributable to Common Stockholders of $1.07 Per Diluted Share for Third Quarter 2023, EPS $1.07 per diluted share.

Period: Third quarter ended September 30, 2023
Net income: Net Income Attributable to Common Stockholders of $1.07 Per Diluted Share for Third Quarter 2023
EPS: $1.07 per diluted share
Result: reported results

Exact text from the filing

EastGroup Properties Announces (601) 354-3555 Third Quarter 2023 Results Third Quarter 2023 Results • Net Income Attributable to Common Stockholders of $1.07 Per Diluted Share for Third Quarter 2023 Compared to $0.87 Per Diluted Share for Third Quarter 2022

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Source: SEC EDGAR

accession 0000049600-23-000107

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