EastGroup Properties Announces Second Quarter 2024 Results

EastGroup Properties Announces Second Quarter 2024 Results

July 23rd, 2024

JACKSON, MISSISSIPPI, July 23, 2024 - EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today the results of its operations for the three and six months ended June 30, 2024.

Commenting on EastGroup's performance, Marshall Loeb, CEO, stated, "Our strong performance continues as evidenced by FFO per share rising 8.5% for the quarter excluding involuntary conversions. Our portfolio remains resilient, producing a number of other strong metrics, such as our percent leased, year-to-date releasing spreads and same store net operating income growth. The leasing environment is slowly improving, which combined with a shrinking construction pipeline, makes me optimistic about the market in the coming year. Long term, I remain bullish on the continuing external secular trends which benefit our shallow bay, last mile Sunbelt market portfolio."