Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 118

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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 for the same periods in 2024.  The following paragraphs provide further details with respect to these changes: 

•PNOI was $134,374,000 ($2.52 per diluted share) for the three months ended September 30, 2025, compared to $118,990,000 ($2.43 per diluted share) during the same period of 2024, which was an increase of $0.09 per diluted share.  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.  Income recognized from straight-lining of rent increased by $1,690,000 for the three months ended September 30, 2025, as compared to the same period of 2024.

PNOI was $389,736,000 ($7.41 per diluted share) for the nine months ended September 30, 2025, compared to $344,128,000 ($7.10 per diluted share) during the same period of 2024, which was an increase of $0.31 per diluted share.  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.  Income recognized from straight-lining of rent increased by $4,562,000 for the nine months ended September 30, 2025, as compared to the same period of 2024.

•EastGroup did not recognize any gains or losses on operating property dispositions during the three and nine months ended September 30, 2025.  The Company had no operating property sales during the three months ended September 30, 2024.  The Company recognized Gains on sales of real estate investments of $8,751,000 ($0.18 per diluted share) during the nine months ended September 30, 2024.  The Company’s 2024 and 2025 sales transactions are described in Note 8 of the Notes to Consolidated Financial Statements.

•Depreciation and amortization