Company: EGP
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000049600-25-000065
Chunk: 100

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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,  INC. COMMON STOCKHOLDERS$59,423 58,644 Depreciation and amortization52,520 45,169 Company’s share of depreciation from unconsolidated investment 31 31 Depreciation and amortization attributable to noncontrolling interest(1)(1)Gain on sales of real estate investments— (8,751)Gain on sales of non-operating real estate— (222)FFO ATTRIBUTABLE TO COMMON STOCKHOLDERS111,973 94,870 Gain on involuntary conversion and business interruption claims(1,763)— FFO ATTRIBUTABLE TO COMMON STOCKHOLDERS — EXCLUDING GAIN ON INVOLUNTARY CONVERSION AND BUSINESS INTERRUPTION CLAIMS$110,210 94,870 Net income attributable to common stockholders per diluted share$1.14 1.22 FFO attributable to common stockholders per diluted share$2.15 1.98 FFO attributable to common stockholders per diluted share — excluding gain on involuntary conversion and business interruption claims $2.12 1.98 Diluted shares for earnings per share and funds from operations per share52,028 47,961 

The Company analyzes the following performance trends in evaluating the revenues and expenses of the Company:

•Net Income Attributable to EastGroup Properties, Inc. Common Stockholders for the three months ended March 31, 2025 was $59,423,000 ($1.14 per basic and diluted share), compared to $58,644,000 ($1.23 per basic and $1.22 per diluted share) for the same period in 2024.  See Results of Operations for further analysis.

•The change in FFO per share represents the increase or decrease in FFO per share from the current period compared to the same period in the prior year.  For the three months ended March 31, 2025, FFO was $2.15 per share compared 

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with $1.98 per share for the same period of 2024, an increase of 8.6%.  FFO increased during the three months ended March 31, 2025, as compared to the same period in 2024, primarily due to the increase in PNOI, the decrease in interest expense, and an increase in gain on involuntary conversion, partially offset by an increase in general and administrative expense.

•For the three months ended March