secwatch.observer — SEC 8-K summary
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Issuer:     EASTGROUP PROPERTIES INC (EGP)
CIK:        0000049600
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0000049600-23-000107
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49600/000004960023000107/0000049600-23-000107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49600/000004960023000107/egp-20231024.htm
  HTML page:      https://secwatch.observer/filing/0000049600-23-000107

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