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Dec 31, 2025
EastGroup Q4 2025 Earnings Report
EastGroup Properties, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2025, reporting an increase in diluted EPS and FFO per share compared to the same period in 2024.
Key Takeaways
EastGroup Properties reported a strong fourth quarter and full year 2025, with diluted EPS increasing to $1.27 for the quarter and $4.87 for the full year. FFO per diluted share also saw an increase, reaching $2.34 for the quarter and $8.95 for the full year, excluding gains on involuntary conversion and business interruption claims. The company's operating portfolio maintained high occupancy and lease rates, with significant increases in rental rates on new and renewal leases.
Net Income Attributable to Common Stockholders increased to $1.27 per diluted share for Q4 2025, up from $1.16 in Q4 2024.
Funds from Operations (FFO), excluding certain gains, rose by 8.8% to $2.34 per diluted share for Q4 2025.
The operating portfolio was 97.0% leased and 96.5% occupied as of December 31, 2025, with average occupancy of 96.2% for Q4 2025.
Rental rates on new and renewal leases increased by an average of 34.6% on a straight-line basis during Q4 2025.
Forward Guidance
EastGroup Properties projects diluted EPS for 2026 to be in the range of $4.93 to $5.13 and FFO per share attributable to common stockholders to be in the range of $9.40 to $9.60. The company anticipates continued growth in property net operating income and strategic development projects.
Positive Outlook
- Projected FFO per share increase over prior year of 5.8% (excluding certain gains).
- Anticipated Same PNOI growth (cash basis) between 5.6% and 6.6%.
- Estimated average month-end occupancy for the operating portfolio between 95.0% and 96.0%.
- Planned development starts of 1.7 million square feet with a projected total investment of $250 million.
- Expected operating property acquisitions totaling $160 million.
Challenges Ahead
- Potential gains on dispositions are not included in the projections, which could impact overall financial performance if realized.
- General and administrative expense is projected to be $27.0 million, with approximately 32% incurred in Q1 2026 due to accelerated expense for retirement-eligible employees and executive officer transitions.
Historical Earnings Impact
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