Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 144

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 2
Chunk 144
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 per basic and diluted share) and $169,111,000 ($3.50 per basic and $3.49 per diluted share) for the same periods in 2024.  See Results of Operations for further analysis.

•The change in FFO per share represents the increase or decrease in FFO per share from the current period compared to the same period in the prior year.  For the three months ended September 30, 2025, FFO was $2.27 per diluted share compared with $2.13 per diluted share for the same period of 2024, an increase of 6.6%.  For the nine months ended September 30, 2025, FFO was $6.64 per diluted share compared with $6.19 per diluted share for the same period of 2024, an increase of 7.3%.  FFO increased during the three and nine months ended September 30, 2025, as compared to the same periods in 2024, primarily due to the increase in PNOI and the decrease in interest expense, partially offset by an increase in general and administrative expense.

•For the three months ended September 30, 2025, PNOI increased by $15,384,000, or 12.9%, as compared to the same period in 2024.  PNOI increased $6,911,000 due to same property operations, $6,106,000 due to 2024 and 2025 acquisitions and $2,613,000 due to newly developed and value-add properties; PNOI decreased $51,000 due to operating properties sold in 2024 and 2025. 

For the nine months ended September 30, 2025, PNOI increased by $45,608,000, or 13.3%, as compared to the same period in 2024.  PNOI increased $20,371,000 due to same property operations, $18,055,000 due to 2024 and 2025 acquisitions and $8,277,000 due to newly developed and value-add properties; PNOI decreased $289,000 due to operating properties sold in 2024 and 2025.

•The change in Same PNOI represents the PNOI increase or decrease for the same operating properties owned during the entire period from January 1, 2024 through September 30, 2025.  Same PNOI,