JACKSON, MISSISSIPPI, February 6, 2020 – EastGroup Properties, Inc. (NYSE: EGP) (the “Company” or “EastGroup”) announced today the results of its operations for the three and twelve months ended December 31, 2019.
Commenting on EastGroup’s performance, Marshall Loeb, CEO, stated, “Our fourth quarter results reflect the strength and depth of our team, the quality of our portfolio and the continued health within the broad industrial market. We believe we are uniquely well positioned to reap the benefits of a strong economy and the persistent growing evolution towards last mile logistics. Due to this strength, 2019 marked a year of records for our Company in metrics such as
occupancy, GAAP rent increases, development starts, equity raised and importantly, FFO per share. The advancing shift for distribution to be closer to the consumer and ideally, a growing well-educated consumer base, is an affirmation of our in-fill, shallow bay, Sunbelt operating strategy.”