EASTGROUP PROPERTIES INC reported second-quarter 2026 results with revenue of $193.3M and diluted EPS of $1.4, reflecting year-over-year growth driven by leasing gains and portfolio activity.
Financial Highlights
- Revenue: $193.3M for Q2 2026, up from $177.3M in the year-ago quarter (9.0% YoY).
- Net income: $75.5M attributable to common stockholders for Q2 2026, versus $63.3M in the year-ago quarter (19.3% YoY).
- Diluted EPS: $1.40 for Q2 2026, up from $1.20 in the year-ago quarter (16.7% YoY).
Business Highlights
- Portfolio growth and leasing: Executed new and renewal leases on 4.887M sq ft (7.8% of operating portfolio), supporting leasing momentum.
- Rental rate momentum: New and renewal rents averaged +35.2% for the six-month period, lifting same-property revenue trends.
- Occupancy and stability: Operating portfolio approximately 96.8% leased and 95.6% occupied, with same-property occupancy above 96%.
- Development and delivery: Began six projects totaling 933K sq ft; transferred 1.231M sq ft to operations; 3.175M sq ft remain in lease-up or under construction.
- Capital deployment: Acquired a 177K sq ft Jacksonville property and sold two non-core assets, recycling proceeds into development activity.
Original SEC Filing:
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