EastGroup Raises FY18 FFO Guidance - Quick Facts

(RTTNews) - EastGroup Properties, Inc. (EGP) announced, for 2018, the company now estimates FFO per share attributable to common stockholders to be in the range of $4.51 to $4.61. The company's initial guidance for 2018 was $4.50.

First-quarter funds from operations was $1.16 per share compared to $0.99, last year, an increase of 17.2%.

Marshall Loeb, CEO, said: "Our first quarter results demonstrate the strength and resilience we are experiencing across the industrial market. It is a strong start to the year and was a quarter when the majority of things that could fall into place thankfully did. Our unique in-fill, shallow bay, Sunbelt high growth market strategy further positions us to capitalize on the market. The 17.2% increase in quarterly FFO over prior year means that we've now beaten the preceding corresponding quarter in every quarter over the past seven years save one a long term testament to our operating strategy."