Eastgroup Properties ( (EGP) ) has released its Q2 earnings. Here is a breakdown of the information Eastgroup Properties presented to its investors.
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EastGroup Properties, Inc. is a self-administered equity real estate investment trust that focuses on the development, acquisition, and operation of industrial properties in high-growth markets across the United States, with a strategic emphasis on locations near major transportation hubs.
In its second quarter of 2025, EastGroup Properties reported a net income attributable to common stockholders of $1.20 per diluted share, up from $1.14 in the same period of 2024. The company continues to demonstrate strong financial performance despite economic uncertainties.
Key highlights from the earnings report include a 7.8% increase in Funds from Operations (FFO) per diluted share, excluding certain gains, and a 6.6% rise in same property net operating income on a straight-line basis. The company also reported a significant increase in rental rates on new and renewal leases, averaging 44.4% on a straight-line basis. Additionally, EastGroup initiated construction on two development projects in Nashville and Atlanta and acquired two operating properties in Raleigh.
EastGroup’s management remains optimistic about the company’s future, citing a strong balance sheet and strategic focus on tenant and geographic diversity as key strengths. The company projects its EPS for 2025 to be between $4.76 and $4.90, with FFO per share expected to range from $8.89 to $9.03, reflecting confidence in continued growth and resilience in the face of economic challenges.