EastGroup Properties Announces Third Quarter 2026 Results
Quarter Highlights Net Income Attributable to Common Stockholders of $1.46 Per Diluted Share for Third Quarter 2026 Compared to $1.26 Per Diluted Share for Third Quarter 2025 Funds from Operations ("FFO"), Excluding Gain on Involuntary Conversion and Business Interruption Claims, of $2.45 Per Diluted Share for Third Quarter 2026 Compared to $2.27 Per Diluted Share for Third Quarter 2025, an Increase of 7.9% Same Property Net Operating Income for the Same Property Pool, Excluding Income From Lease Terminations, Increased 5.3% on a Straight-Line Basis and 7.1% on a Cash Basis for Third Quarter 2026 Compared to the Same Period in 2025 Operating Portfolio was 97.3% Leased and 96.5% Occupied as of September 30, 2026; Average Month-End Occupancy of Operating Portfolio was 96.1% for Third Quarter 2026 as Compared to 95.7% for Third Quarter 2025 Rental Rates on New and Renewal Leases Increased an Average of 36.3% on a Straight-Line Basis Entered into Forward Equity Sale Agreements for Approximately $486 Million at an Initial Weighted Average Forward Price of $202.06 Per Share Transferred a 100% Leased Development Project in Orlando Containing 113,000 Square Feet to the Operating Portfolio Started Construction of Four Development Projects and One Redevelopment Project Totaling 998,000 Square Feet with Projected Total Costs of Approximately $162 Million Signed 11 Leases on Active Development and First Generation Development Properties From July 1, 2026 through October 20, 2026, Totaling Approximately 503,000 Square Feet Acquired Two Operating Properties Containing 531,000 Square Feet and 107 Acres of Development Land for Approximately $164 Million Subsequent to Quarter-End, Acquired Three Operating Properties Containing 1,031,000 Square Feet and 25 Acres of Development Land for Approximately $262 Million Declared 187th Consecutive Quarterly Cash Dividend: Increased the Dividend by $0.20 Per Share (12.9%) to $1.75 Per Share JACKSON, Miss., Oct. 21, 2026 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us", "our" or "EastGroup") announced today the results of its operations for the three and nine months ended September 30, 2026.