Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 149

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 2
Chunk 149
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idity and Capital Resources.

Accounts payable and accrued expenses increased $82,828,000 during the nine months ended September 30, 2025.  Refer to Note 11 in the Notes to Consolidated Financial Statements for further details.

Other liabilities increased $1,704,000 during the nine months ended September 30, 2025.  Refer to Note 12 in the Notes to Consolidated Financial Statements for further details.

Equity

Additional paid-in capital increased $270,307,000 during the nine months ended September 30, 2025, primarily due to the issuance of common stock under the Company’s ATM program (as discussed in Note 16 in the Notes to Consolidated Financial Statements) and activity related to stock-based compensation (as discussed in Note 17 in the Notes to Consolidated Financial Statements).  

Distributions in excess of earnings increased $40,582,000 during the nine months ended September 30, 2025, as a result of dividends on common stock of $230,247,000 exceeding Net Income Attributable to EastGroup Properties, Inc. Common Stockholders of $189,665,000.  

Accumulated other comprehensive income decreased $13,202,000 during the nine months ended September 30, 2025.  The decrease resulted from the change in fair value of the Company’s interest rate swaps (cash flow hedges) which are further discussed in Notes 13 and 14 in the Notes to Consolidated Financial Statements. 

RESULTS OF OPERATIONS

Net Income Attributable to EastGroup Properties, Inc. Common Stockholders for the three and nine months ended September 30, 2025 was $66,943,000 ($1.26 per basic and diluted share) and $189,665,000 ($3.61 per basic and $3.60 per diluted share), respectively, compared to $55,180,000 ($1.13 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.  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