Loading...
•
Mar 31, 2025
EastGroup Q1 2025 Earnings Report
EastGroup Properties reported solid financial performance in Q1 2025 with strong leasing momentum and growth in adjusted earnings.
Key Takeaways
EastGroup Properties delivered a stable Q1 2025 with notable leasing activity, strong growth in adjusted FFO per share, and positive rental rate increases across its portfolio.
EPS was $1.14, slightly down due to lack of property sales this quarter.
Adjusted EPS (FFO) increased to $2.12 per diluted share, up from $1.98 last year.
Same-property NOI grew 5.3% on a straight-line basis and 5.2% on a cash basis.
Leasing activity surged, with rental rates on new/renewal leases increasing by 46.9%.
Forward Guidance
EastGroup projects continued growth in FFO per share for 2025, supported by development activities and high occupancy expectations.
Positive Outlook
- Projected FFO per share for 2025 is $8.84 to $9.04, up from $8.35 in 2024.
- Same-property NOI growth expected at 5.8% to 6.8% (cash basis).
- Strong average month-end occupancy projected between 95.6% and 96.6%.
- Development starts projected at 1.8 million square feet with $250M investment.
- Capital proceeds expected to reach $260M for the year.
Challenges Ahead
- General and administrative expenses projected to rise to $22.8M, up from $20.6M.
- Lower expected operating property acquisitions ($150M vs $390M in 2024).
- Operating property dispositions projected to increase slightly to $20M.
- Development starts reduced from initial guidance of 2.5M sq ft to 1.8M sq ft.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...