JACKSON, MISSISSIPPI, October 23, 2024 – EastGroup Properties, Inc. (NYSE: EGP) (the “Company”, “we”, “us” or “EastGroup”) announced today the results of its operations for the three and nine months ended September 30, 2024.
Commenting on EastGroup’s performance, Marshall Loeb, CEO, stated, “Our solid performance continued this quarter as evidenced by FFO per share excluding gain on involuntary conversions and business interruption claims rising 9.2%. 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. With a choppy leasing environment matched against a materially shrinking construction pipeline, we are well positioned to benefit within our portfolio as well as fund external growth opportunities. I remain optimistic on the continuing secular tailwinds which benefit our shallow bay, last mile Sunbelt market portfolio.”