secwatch.observer — SEC 8-K summary
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Issuer:     EASTGROUP PROPERTIES INC (EGP)
CIK:        0000049600
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0000049600-24-000017
Event type: earnings
Sentiment:  positive
Materiality: 0.78
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49600/000004960024000017/0000049600-24-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49600/000004960024000017/egp-20240207.htm
  HTML page:      https://secwatch.observer/filing/0000049600-24-000017

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