EastGroup Properties reports Q1 FFO $2.30, consensus $2.29

Reports Q1 revenue $190.26M, consensus $190.03M. CEO Marshall Loeb stated, “I’m pleased with how we began the year in terms of FFO per share exceeding our expectations, as well as the development leases we signed. With limited supply and anticipated growing demand, we are excited about our pathway. Looking beyond this environment, I remain bullish on the continuing external trends benefitting our shallow bay, last mile, high-growth market portfolio.” Reid Dunbar, President, added, “Our solid Q1 results reflect the strength and focus of our teams in the field, who continued to execute at a high level amid ongoing global uncertainty. Executive leadership transitions are progressing smoothly, and we are pleased with the momentum we’ve built to start the year.”