secwatch.observer — SEC 8-K summary
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Issuer:     EASTGROUP PROPERTIES INC (EGP)
CIK:        0000049600
Form:       8-K
Filed at:   2025-04-23T23:59:59+00:00
Accession:  0000049600-25-000064
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EastGroup Q1 FFO ex-items $2.12 (+7.1% YoY); same-property NOI up 5.3%; occupancy 96.5%
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- Diluted GAAP EPS of $1.14 vs $1.22 YoY; prior-year quarter included $0.18 gain on property sales.
- FFO excluding gains and involuntary conversion of $2.12 per share, up 7.1% from $1.98 YoY.
- Same property NOI (ex lease terminations) increased 5.3% straight-line, 5.2% cash basis.
- Operating portfolio 97.3% leased, 96.5% occupied; rental rates on new/renewal leases up 46.9%.
- Signed 30% more operating portfolio lease sq ft vs Q1 2024; transferred 375k sq ft development to operating.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49600/000004960025000064/0000049600-25-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49600/000004960025000064/egp-20250423.htm
  HTML page:      https://secwatch.observer/filing/0000049600-25-000064

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