secwatch.observer — SEC 8-K summary
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Issuer:     EASTGROUP PROPERTIES INC (EGP)
CIK:        0000049600
Form:       8-K
Filed at:   2026-04-22T23:59:59+00:00
Accession:  0000049600-26-000028
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EastGroup Q1 2026 FFO ex-items $2.30/share, up 8.5% YoY; same-property NOI +9.2% cash
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- Net income of $1.77/diluted share vs $1.14 in Q1 2025; includes $0.46 gain on real estate sales ($25M).
- FFO (ex-items) $2.30/diluted share vs $2.12, up 8.5%; same-property NOI increased 7.5% straight-line and 9.2% cash basis.
- Operating portfolio 96.5% leased, 95.9% occupied; rental rates on new/renewal leases up 36.8% on straight-line.
- Raised ~$120M via continuous equity program at $194.25/share; acquired Jacksonville property for $38M, sold Fresno property for $37M.
- Started construction of four development projects totaling 586k sq ft ($84M total cost); transferred 562k sq ft to operating portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49600/000004960026000028/0000049600-26-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49600/000004960026000028/egp-20260422.htm
  HTML page:      https://secwatch.observer/filing/0000049600-26-000028

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