$EGP

EASTGROUP PROPERTIES INC

CIK:0000049600|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
REVENUES
Income from real estate operations	$ 193,292	$ 177,256	$ 383,526	$ 349,900
Other revenue	39	30	61	1,835
Revenues	193,331	177,286	383,587	351,735
EXPENSES
Expenses from real estate operations	50,684	48,363	101,207	95,123
Depreciation and amortization	56,406	53,012	111,903	105,532
General and administrative	7,207	5,290	14,823	13,244
Indirect leasing costs	231	171	456	434
Expenses	114,528	106,836	228,389	214,333
OTHER INCOME (EXPENSE)
Interest expense	(8,990)	(7,690)	(18,069)	(15,715)
Gains on sales of real estate investments	5,189	0	30,074	0
Other income	521	553	2,944	1,063
Net Income	75,523	63,313	170,147	122,750
Net income attributable to noncontrolling interest in joint ventures	0	(14)	0	(28)
NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS	75,523	63,299	170,147	122,722
Other comprehensive income (loss) - Interest rate swaps	3,426	(4,136)	5,405	(11,063)
TOTAL COMPREHENSIVE INCOME	$ 78,949	$ 59,163	$ 175,552	$ 111,659
BASIC PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net income attributable to common stockholders	$ 1.41	$ 1.21	$ 3.18	$ 2.35
Weighted average shares outstanding (in shares)	53,672	52,508	53,562	52,237
DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net income attributable to common stockholders	$ 1.40	$ 1.20	$ 3.17	$ 2.35
Weighted average shares outstanding (in shares)	53,783	52,579	53,665	52,304

CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
OPERATING ACTIVITIES
Net Income	$ 75,523	$ 94,624	$ 63,313	$ 59,437	$ 170,147	$ 122,750
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					111,903	105,532
Stock-based compensation expense					6,952	6,535
Gain on sales of real estate investment					(30,074)	0
Gain on involuntary conversion and business interruption claims					(1,950)	(1,763)
Changes in operating assets and liabilities:
Accrued income and other assets					12,667	3,700
Accounts payable, accrued expenses and prepaid rent					30,862	39,014
Other					1,433	1,313
NET CASH PROVIDED BY OPERATING ACTIVITIES					301,940	277,081
INVESTING ACTIVITIES
Development and value-add properties					(99,525)	(158,709)
Purchases of real estate properties					(38,130)	0
Real estate improvements					(29,015)	(44,002)
Net proceeds from sales of real estate investments and non-operating real estate					42,901	3,371
Leasing commissions					(17,287)	(17,451)
Proceeds from involuntary conversion on real estate assets					2,143	3,099
Changes in accrued development costs					878	5,299
Changes in other assets and other liabilities					(8,440)	495
NET CASH USED IN INVESTING ACTIVITIES					(146,475)	(207,898)
FINANCING ACTIVITIES
Proceeds from unsecured bank credit facilities					134,544	22,851
Repayments on unsecured bank credit facilities					(153,389)	(22,851)
Repayments on unsecured debt					0	(50,000)
Debt issuance costs					(32)	(103)
Distributions paid to stockholders (not including dividends accrued)					(166,902)	(146,299)
Proceeds from common stock offerings					69,300	147,006
Common stock offering related costs					(467)	(96)
Other					(6,144)	(4,299)
NET CASH USED IN FINANCING ACTIVITIES					(123,090)	(53,791)
INCREASE IN CASH AND CASH EQUIVALENTS					32,375	15,392
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		$ 1,007		$ 17,529	1,007	17,529	$ 17,529
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 33,382		$ 32,921		33,382	32,921	$ 1,007
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest, net of amounts capitalized of $11,572 and $10,500 for 2026 and 2025, respectively					17,064	14,593
Interest capitalized					11,572	10,500
Operating Lease, Payments					1,868	1,787
Cash paid for operating lease liabilities					848	0
Development costs payable					15,487	22,789
Retainage payable					7,635	9,818
Real estate improvements and capitalized leasing costs payable					10,427	9,419
Dividends payable					$ 84,932	$ 74,932