EastGroup Properties Q3 Profit Rises

(RTTNews) - EastGroup Properties, Inc. (EGP) Tuesday reported third-quarter net income of $24.4 million or $0.62 per share, compared to $22.3 million or $0.60 per share last year.

Funds from operations for the quarter was $1.36 per share, compared to $1.28 per share last year.

Third-quarter revenues rose to $92.0 million from $83.9 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.60 per share and revenues of $89.77 million. Analysts' estimates typically exclude one-time items.

Looking forward to full year 2020, EastGroup now estimates earnings of $2.40 to $2.44 per share and FFO per share of $5.33 to $5.37. Analysts currently estimate earnings of $2.36 per share.