EastGroup Properties Q1 Profit Up

(RTTNews) - EastGroup Properties, Inc. (EGP) reported first-quarter net income of $59.4 million or $1.14 per share, compared to $58.6 million or $1.22 per share last year.

For the three months ended March 31, 2025, funds from operations attributable to common stockholders were $2.15 per share compared to $1.98 per share during the same period of 2024, an increase of 8.6%.

FFO Excluding Gain on Involuntary Conversion and Business Interruption Claims was $2.12 per share for the three months ended March 31, 2025, compared to $1.98 per share for the same period of 2024, an increase of 7.1%.

Revenues for the quarter were $174.4 million, up from $154.2 million last year.

Looking forward, the company estimates earnings per share for 2025 to be in the range of $4.67 to $4.87 and FFO per share attributable to common stockholders for 2025 to be in the range of $8.84 to $9.04.