Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 119

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 119
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 expense was $54,131,000 ($1.02 per diluted share) and $48,917,000 ($1.00 per diluted share) during the three months ended September 30, 2025 and 2024, respectively, which was an increase of $0.02 per diluted share.  Depreciation and amortization expense was $159,663,000 ($3.03 per diluted share) and $139,749,000 ($2.89 per diluted share) during the nine months ended September 30, 2025 and 2024, respectively, which was an increase of $0.14 per diluted share.  The increase is primarily due to the operating properties acquired by the Company in 2024 and 2025 and the properties transferred from Development and value-add properties in 2024 and 2025, partially offset by operating properties sold in 2024 and 2025.  

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•Interest expense recognized was $7,685,000 ($0.14 per diluted share) and $9,871,000 ($0.20 per diluted share) during the three months ended September 30, 2025 and 2024, respectively, which was a decrease of $0.06 per share.  Interest expense recognized was $23,400,000 ($0.44 per diluted share) and $29,764,000 ($0.61 per diluted share) during the nine months ended September 30, 2025 and 2024, respectively, which was a decrease of $0.17 per diluted share.  Refer to the table below for additional details.

•EastGroup recognized gains on involuntary conversion and business interruption claims of $1,763,000 ($0.03 per diluted share) and $1,708,000 ($0.04 per diluted share) during the nine months ended September 30, 2025 and 2024, respectively, which was a decrease of $0.01 per diluted share.  There were no gains on involuntary conversion and business interruption claims during the three months ended September 30, 2025 or 2024.  Gains on involuntary conversion and business interruption claims are included in Other revenue on the Consolidated Statements of Income and Comprehensive Income.

•Weighted average shares outstanding increased by 4,265,000 shares on a diluted basis for the three months ended September 30, 2025, as compared to the same period of 2024.  Weighted average