Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 55

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 2024.  Weighted average shares outstanding increased by 4,189,000 shares on a diluted basis for the nine months ended September 30, 2025, as compared to the same period of 2024.  The increase is primarily due to issuance of shares through common stock offerings, as discussed in Liquidity and Capital Resources.

EastGroup entered into 36 leases with certain rent concessions on 901,000 square feet during the three months ended September 30, 2025, with total rent concessions of $1,805,000 over the terms of the leases.  During the same period of 2024, the Company entered into 33 leases with certain rent concessions on 1,108,000 square feet with total rent concessions of $2,664,000 over the terms of the leases. 

EastGroup entered into 110 leases with certain rent concessions on 2,988,000 square feet during the nine months ended September 30, 2025, with total rent concessions of $6,601,000 over the terms of the leases.  During the same period of 2024, the Company entered into 97 leases with certain rent concessions on 3,762,000 square feet with total rent concessions of $8,462,000 over the terms of the leases. 

The Company’s percentage of leased square footage for the operating portfolio was 96.7% at September 30, 2025, compared to 96.9% at September 30, 2024.  Occupancy for the Company’s operating portfolio at September 30, 2025 was 95.9% compared to 96.5% at September 30, 2024.

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The following table presents the components of Interest expense for the three and nine months ended September 30, 2025 and 2024:

 Three Months EndedSeptember 30,Nine Months Ended                                                                                                                                            September 30, 20252024Increase(Decrease)20252024Increase(Decrease) (In thousands)VARIABLE RATE INTEREST EXPENSE     Unsecured bank credit facilities interest — variable rate(excluding amortization of facility fees and debt issuance costs)                                                                                                                                                       $93 35 58 116 101 15 Amortization of facility fees — Unsecured bank credit        facilities239 254 (15)720 758 (38)Amortization of debt issuance costs — Unsecured bank       credit