Company: EGP
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000049600-25-000065
Chunk: 85

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 interest rate factor equal to a specified daily rate less a spread, (ii) the forward purchaser’s stock borrowing costs and (iii) scheduled dividends during the term of the agreement.Direct Common Stock Issuance ActivityThe following table presents the Company’s common stock issuance activity sold directly through sales agents pursuant to the Company's ATM programs during the three months ended March 31, 2025 and the year ended December 31, 2024:Common Stock (1)Weighted Average PriceGross ProceedsNet Proceeds(In shares)(Per share)(In thousands)(In thousands)Three months ended March 31, 202533,120 $183.15 $6,066 $6,005 Twelve months ended December 31, 20241,373,459 174.30 239,390 236,996 (1)  Excludes shares of common stock sold on a forward basis as described below.

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Forward Equity Offering ActivityThe following table presents the Company’s forward equity offering activity during the three months ended March 31, 2025 and the year ended December 31, 2024:Common Stock Weighted Average PriceGross Proceeds(In shares)(Per share)(In thousands)Forward Sale Agreements Outstanding at December 31, 2023406,041 $183.92 $74,679 New forward sale agreements (1)2,677,289 178.32 477,420 Forward sale agreements settled — shares issued and proceedsreceived (2)(2,698,077)179.63 (484,653)Forward Sale Agreements Outstanding at December 31, 2024385,253 $175.07 $67,446 New forward sale agreements (1)1,043,871 182.02 190,006 Forward sale agreements settled — shares issued and proceedsreceived (3)(385,253)175.07 (67,446)Forward Sale Agreements Outstanding at March 31, 20251,043,871 $182.02 $190,006 (1) The Company did not receive any proceeds from the sale of common shares by the forward counterparties at the time it entered into forward sale agreements.(2) EastGroup settled outstanding forward equity sale agreements by issuing 2,698,077 shares of