Quarterly ResultJul 22, 2026, 04:23 PM
EastGroup Properties Q2 FFO +6.8% to $2.36/Share; Raises 2026 Outlook
AI Summary
EastGroup Properties reported strong second-quarter 2026 results, with diluted EPS increasing to $1.40 from $1.20 year-over-year and FFO per diluted share (excluding certain items) rising 6.8% to $2.36. The company also raised its full-year 2026 FFO guidance to a range of $9.52 to $9.66 per share and increased its development starts projection to $325 million. Operational highlights include an 8.3% cash basis increase in same property net operating income and a 34.1% increase in rental rates on new and renewal leases.
Key Highlights
- Q2 2026 diluted EPS increased to $1.40 from $1.20 in Q2 2025.
- Q2 2026 FFO per diluted share (excluding certain items) rose 6.8% to $2.36.
- Same Property Net Operating Income (cash basis) increased 8.3% for Q2 2026.
- Rental rates on new and renewal leases increased an average of 34.1% on a straight-line basis.
- Raised full-year 2026 FFO per share guidance to $9.52-$9.66 and development starts to $325 million.
- Acquired an operating property for $28 million and is under contract for another for $83 million.
- Declared a cash dividend of $1.55 per share, marking 33 consecutive years of dividend increase or maintenance.
- Operating portfolio was 96.8% leased and 95.6% occupied as of June 30, 2026.
Price Impact
More from EGP