EastGroup Q2 FFO per share rises 8.5% to $2.05; same-store NOI up 5.3%

EASTGROUP PROPERTIES INC

2024-Q2 EPS reported $2.37 revenue$313,314,000

Diluted EPS $1.14 vs $0.97 YoY; FFO ex-special items $2.05, up 8.5%.
Same Property NOI (ex-terminations) +5.3% straight-line and cash basis.
Operating portfolio 97.4% leased; rental rates on new/renewal leases +59.7% straight-line.
Entered Raleigh market with $53M acquisition (274K sq ft); started $13M development project.
Transferred two development projects (294K sq ft) to operating portfolio.

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