EastGroup Properties Announces Third Quarter 2026 Results
Key Highlights
- ➤FFO excluding claims rose 7.9% to $2.45 per diluted share
- ➤Same-property NOI increased 5.3% straight-line and 7.1% cash basis
- ➤EastGroup raised 2026 development starts to $390 million
- ➤Acquisition guidance increased to $360 million, supported by balance sheet
- ➤Dividend increased 12.9% to $1.75 per share, the 187th consecutive distribution
Expert Statements
Marshall Loeb, CEO of EastGroup Properties
“The team and the portfolio performed ahead of expectations this quarter and so far this year. The leasing environment has been much more stable than headlines would lead one to expect. This activity is exciting as we begin to turn the page into 2027. Looking beyond the current environment, I remain bullish on the continuing external trends benefitting our shallow bay, last mile, high-growth market portfolio.”
Reid Dunbar, President of EastGroup Properties
“Continued leasing momentum gave us the confidence to raise our development starts again, to $390 million for the year, and attractive opportunities allowed us to increase our acquisition guidance to $360 million. Supported by our strong balance sheet, we remain focused on deploying capital with discipline and creating long-term value for our shareholders.”
EastGroup Properties Announces Third Quarter 2026 Results PR Newswire
* Net Income Attributable to Common Stockholders of $1.46 Per Diluted Share for Third Quarter 2026 Compared to $1.26 Per Diluted Share for Third Quarter 2025 * Funds from Operations ("FFO"), Excluding Gain on Involuntary Conversion and Business Interruption Claims, of $2.45 Per Diluted Share for Third Quarter 2026 Compared to $2.27 Per Diluted Share for Third Quarter 2025, an Increase of 7.9% * Same Property Net Operating Income for the Same Property Pool, Excluding Income From Lease Terminations, Increased 5.3% on a Straight-Line Basis and 7.1% on a Cash Basis for Third Quarter 2026 Compared to the Same Period in 2025 * Operating Portfolio was 97.3% Leased and 96.5% Occupied as of September 30, 2026; Average Month-End Occupancy of Operating Portfolio was 96.1% for Third Quarter 2026 as Compared to 95.7% for Third Quarter 2025 * Rental Rates on New and Renewal Leases Increased an Average of 36.3% on a Straight-Line Basis * Entered into Forward Equity Sale Agreements for Approximately $486 Million at an Initial Weighted Average Forward Price of $202.06 Per Share * Transferred a 100% Leased Development Project in Orlando Containing 113,000 Square Feet to the Operating Portfolio * Started Construction of Four Development Projects and One Redevelopment Project Totaling 998,000 Square Feet with Projected Total Costs of Approximately $162 Million * Signed 11 Leases on Active Development and First Generation Development Properties From July 1, 2026 through October 20, 2026, Totaling Approximately 503,000 Square Feet * Acquired Two Operating Properties Containing 531,000 Square Feet and 107 Acres of Development Land for Approximately $164 Million * Subsequent to Quarter-End, Acquired Three Operating Properties Containing 1,031,000 Square Feet and 25 Acres of Development Land for Approximately $262 Million * Declared 187th Consecutive Quarterly Cash Dividend: Increased the Dividend by $0.20 Per Share (12.9%) to $1.75 Per Share JACKSON, Miss., Oct. 21, 2026 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us", "our" or "EastGroup") announced today the results of its operations for the three and nine months ended September 30, 2026.
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