secwatch.observer — SEC 8-K summary
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Issuer:     EASTGROUP PROPERTIES INC (EGP)
CIK:        0000049600
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0000049600-24-000106
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EastGroup Properties Q3 2024 FFO per share $2.13, up 9.2% YoY; same-property NOI up 5.5%
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- Net income $1.13 per diluted share vs $1.07 in Q3 2023.
- FFO excluding gain on involuntary conversion and business interruption claims $2.13 per share, up 9.2% YoY.
- Operating portfolio 96.9% leased and 96.5% occupied; rental rates on new/renewal leases up 50.9% straight-line.
- Acquired 179k sq ft for ~$36M; started two development projects totaling 310k sq ft with projected costs ~$40M.
- Same property NOI excluding lease terminations increased 5.5% straight-line and 5.9% cash basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49600/000004960024000106/0000049600-24-000106-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49600/000004960024000106/egp-20241023.htm
  HTML page:      https://secwatch.observer/filing/0000049600-24-000106

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