EastGroup Q4 FFO $2.03 (+11.5% YoY); same-store NOI cash +7.5%; occupancy 98.7%

EASTGROUP PROPERTIES INC

2023-FY EPS reported $4.42 revenue$570,591,000

Net income $1.35 diluted EPS (vs. $0.89); FFO $2.03 diluted (vs. $1.82), up 11.5%.
Same property NOI (ex-lease terminations) up 6.8% straight-line, 7.5% cash basis.
Rental rates on new/renewal leases up 62.0% straight-line; operating portfolio 98.7% leased.
Acquired three operating properties for ~$78M; started one development (244k sq ft, ~$35M).
Declared quarterly dividend $1.27/share (176th consecutive); sold ~1.37M shares at $171.55 avg.

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 Fourth Quarter 2023 results: EPS $1.35 per diluted share.

Period: Fourth Quarter 2023
EPS: $1.35 per diluted share
Result: reported results

Exact text from the filing

Net Income Attributable to Common Stockholders of $1.35 Per Diluted Share for Fourth Quarter 2023 Compared to $0.89 Per Diluted Share for Fourth Quarter 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EASTGROUP PROPERTIES INC reported Year 2023 results: EPS $4.42 per diluted share.

Period: Year 2023
EPS: $4.42 per diluted share
Result: reported results

Exact text from the filing

Net Income Attributable to Common Stockholders of $4.42 Per Diluted Share for 2023 Compared to $4.36 Per Diluted Share for 2022

View on SEC.gov

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EASTGROUP PROPERTIES INC filing history →

Source: SEC EDGAR

accession 0000049600-24-000017

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