EastGroup Properties reports Q2 FFO $2.21, consensus $2.20

Reports Q2 revenue $177.29M, consensus $176.01M. Marshall Loeb, CEO, stated, “I’m proud of our quarterly results, especially given the degree of economic uncertainty across the U.S. The results are a strong testament to our team, our properties and our markets, in that order. For the near term, concerns about global trade are a cloud of uncertainty around the market, in terms of new and expansion leasing. As a result, we continue working to complete leases promptly. Stepping back, our management team has been through several periods of economic uncertainty before, and we’ll navigate through this one too. The uncertainty creates a stark reminder of why we maintain a strong balance sheet and focus on diversity in terms of tenants and geography. Long term, I remain bullish on the continuing external secular trends which benefit our shallow bay, last mile, high-growth market portfolio.”