EastGroup Properties Q2 FFO Rises

(RTTNews) - EastGroup Properties, Inc. (EGP), Tuesday announced an increase in its funds from operations to $100.98 million or $2.09 per share from last year's $85.41 million or $1.91 per share for the second quarter.

Earnings stood at $55.3 million or $1.14 a share compared to $43.5 million or $0.97 a share last year.

Analysts, on average, surveyed by Thomson Reuters estimated earnings of $1.09 a share for the same period.

Revenue increased to $159.1 million from $139.9 million in the prior year.

Looking forward, the company expects earnings of $4.63 to $4.73 per share, and FFO of $8.28 to $8.38 per share for the fiscal year 2024.