Company: EGP
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000049600-25-000065
Chunk: 7

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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ITEM 1.      FINANCIAL STATEMENTS.

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

 March 31,2025December 31,2024(In thousands, except share and per share data)ASSETS  Real estate properties$5,565,764 5,503,444 Development and value-add properties686,102 674,472  6,251,866 6,177,916 Less accumulated depreciation(1,456,556)(1,415,576) 4,795,310 4,762,340 Unconsolidated investment7,401 7,448 Cash and cash equivalents20,515 17,529 Other assets284,752 290,159 TOTAL ASSETS$5,107,978 5,077,476 LIABILITIES AND EQUITY  LIABILITIES  Unsecured bank credit facilities, net of debt issuance costs$(3,345)(3,595)Unsecured debt, net of debt issuance costs1,457,283 1,507,157 Accounts payable and accrued expenses177,387 147,342 Other liabilities131,496 134,028 Total Liabilities1,762,821 1,784,932 EQUITY  Stockholders’ Equity:     Common shares; $0.0001 par value; 70,000,000 shares authorized; 52,265,432 shares       issued and outstanding at March 31, 2025 and 51,825,798 at December 31, 20245 5 Excess shares; $0.0001 par value; 30,000,000 shares authorized; no shares issued— — Additional paid-in capital3,746,897 3,673,393 Distributions in excess of earnings(417,058)(403,172)Accumulated other comprehensive income15,026 21,953 Total Stockholders’ Equity3,344,870 3,292,179 Noncontrolling interest in joint ventures287 365    Total Equity3,345,157 3,292,544 TOTAL LIABILITIES AND EQUITY$5,107,978 5,077,476 

See accompanying Notes to Consolidated Financial Statements (unaudited).

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EASTGROUP PRO