secwatch.observer — SEC 8-K summary
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Issuer:     EASTGROUP PROPERTIES INC (EGP)
CIK:        0000049600
Form:       8-K
Filed at:   2025-02-06T23:59:59+00:00
Accession:  0000049600-25-000016
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EastGroup Q4 FFO ex items $2.15 (+5.9% YoY); FY2024 FFO $8.31 (+7.9% YoY)
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- Q4 net income attributable to common stockholders $1.16 diluted EPS vs $1.35 in Q4 2023 (prior year had $0.28 gain on sales).
- FFO excluding gain on involuntary conversion and business interruption claims: Q4 $2.15 per share (+5.9% YoY); FY2024 $8.31 (+7.9% YoY).
- Same property NOI (straight-line) grew 3.6% in Q4 and 4.8% for FY2024; cash basis +3.4% Q4 and +5.6% FY2024.
- Operating portfolio 97.1% leased; rental rate increases on new/renewal leases averaged 46.6% straight-line in Q4.
- Q4 acquisitions: three operating properties for ~$257M; started five development projects totaling 802K sq ft with projected cost ~$125M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49600/000004960025000016/0000049600-25-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49600/000004960025000016/egp-20250206.htm
  HTML page:      https://secwatch.observer/filing/0000049600-25-000016

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