Company: EGP
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000049600-25-000065
Chunk: 8

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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PERTIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(UNAUDITED)

Three Months Ended March 31, 20252024(In thousands, except per share data)REVENUESIncome from real estate operations$172,644 154,074 Other revenue1,805 150  174,449 154,224 EXPENSESExpenses from real estate operations46,760 43,003 Depreciation and amortization52,520 45,169 General and administrative7,954 6,681 Indirect leasing costs263 177  107,497 95,030 OTHER INCOME (EXPENSE)Interest expense(8,025)(10,061)Gain on sales of real estate investments— 8,751 Other510 774 NET INCOME59,437 58,658 Net income attributable to noncontrolling interest in joint ventures(14)(14)NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS59,423 58,644 Other comprehensive income (loss) — interest rate swaps(6,927)5,894 TOTAL COMPREHENSIVE INCOME$52,496 64,538 BASIC PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TOEASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERSNet income attributable to common stockholders$1.14 1.23 Weighted average shares outstanding — Basic51,965 47,860 DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERSNet income attributable to common stockholders$1.14 1.22 Weighted average shares outstanding — Diluted52,028 47,961 

See accompanying Notes to Consolidated Financial Statements (unaudited).

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(UNAUDITED)

For the three months ended March 31, 2025:

Common SharesAdditional Paid-In CapitalDistributions in Excess of EarningsAccumulated Other Comprehensive IncomeNoncontrolling Interest in Joint VenturesTotal(In thousands, except share and per share data)BALANCE, DECEMBER 31, 2024$5 3,673,393