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

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 common stock to satisfy tax withholding obligations in connection with the issuance of common stock— (10)— — — (10)Net distributions to noncontrolling interest— — — — (73)(73)BALANCE, JUNE 30, 20245 3,112,554 (375,556)29,687 257 2,766,947 Net income— — 55,180 — 14 55,194 Net unrealized change in fair value of interest rate swaps— — — (15,747)— (15,747)Common dividends declared — $1.40 per    share— — (68,898)— — (68,898)Stock-based compensation, net of    forfeitures— 3,012 — — — 3,012 Issuance of 540,252 shares of common    stock, common stock offering, net of    expenses— 92,210 — — — 92,210 Withheld 22 shares of common stock to satisfy tax withholding obligations in connection with the issuance of common stock— (3)— — — (3)Net distributions to noncontrolling interest— — — — (24)(24)BALANCE, SEPTEMBER 30, 2024$5 3,207,773 (389,274)13,940 247 2,832,691 

See accompanying Notes to Consolidated Financial Statements (unaudited).

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 Nine Months Ended September 30, 20252024(In thousands)OPERATING ACTIVITIES  Net income                                                                                                       $189,707 169,153 Adjustments to reconcile net income to net cash provided by operating activities:  Depreciation and amortization159,663 139,749 Stock-based compensation expense9,165 8,277 Gain on sales of real estate investments— (8,751)Gain on sales of non-operating real estate— (222)Gain on involuntary conversion and business interruption claims(1,763)(1,708)Changes in operating assets and liabilities: