Earnings ·
EastGroup Properties reported second quarter 2026 results, with net income attributable to common stockholders of…
EGPEastgroup Properties Inc
EastGroup Properties reported second quarter 2026 results, with net income attributable to common stockholders of $1.40 per diluted share, up from $1.20 in the prior-year period. Funds from operations (FFO) excluding certain gains rose 6.8% to $2.36 per diluted share. Same property net operating income increased 6.2% on a straight-line basis. The company raised approximately $160 million through its continuous common equity offering program and started construction on two development projects in Charlotte and Houston totaling 347,000 square feet. Post-quarter, the company acquired a 143,000 square foot property in Phoenix for $28 million and is under contract for an $83 million acquisition in Austin. EastGroup is an industrial real estate investment trust focused on developing, acquiring, and operating industrial properties.