| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 193.33 | 1.6% | 9.1% |
| Total Income | 193.33 | 1.6% | 9.1% |
| Expenditure | 114.53 | 0.6% | 7.2% |
| PBT | — | ||
| Net Profit | 75.52 | 20.2% | 19.3% |
| OPM | — | ||
| NPM | 39.06% | 10.67pp | 3.36pp |
| EPS | 1.41 | 20.3% | 16.5% |
EastGroup Properties Announces Q2 2026 Results
23 Jul 2026 · 23 Jul, 1:52 am
Summary
EastGroup Properties announced its second quarter 2026 results, with Net Income Attributable to Common Stockholders at $1.40 per diluted share, up from $1.20 in the prior year quarter. Funds from Operations (FFO) saw a 6.8% increase to $2.36 per diluted share, excluding certain items. The company reported strong leasing activity, with rental rates on new and renewal leases increasing by an average of 34.1% on a straight-line basis. Management expressed optimism about the leasing environment and continuing positive market trends.
Key Highlights
- 1
Net Income Attributable to Common Stockholders was $1.40 Per Diluted Share for Second Quarter 2026, an increase from $1.20 Per Diluted Share in Second Quarter 2025.
- 2
Funds from Operations (FFO), Excluding Gain on Involuntary Conversion and Business Interruption Claims, increased by 6.8% to $2.36 Per Diluted Share for Second Quarter 2026 compared to $2.21 Per Diluted Share for Second Quarter 2025.
- 3
Same Property Net Operating Income increased 6.2% on a Straight-Line Basis and 8.3% on a Cash Basis for Second Quarter 2026 compared to the same period in 2025.
- 4
Rental rates on new and renewal leases increased an average of 34.1% on a Straight-Line Basis during the second quarter of 2026.
- 5
The Company transferred four development projects containing 669,000 square feet, which are 100% leased, to the operating portfolio.
- 6
Construction started on two development projects totaling 347,000 square feet with projected total costs of approximately $39 million.
- 7
Subsequent to quarter-end, the Company acquired an operating property in Phoenix for approximately $28 million and is under contract to acquire a property in Austin for approximately $83 million.
Management Comments
Marshall Loeb
The team and the portfolio have performed ahead of expectations this year. The leasing environment has ‘normalized’ compared to the protracted decision making we experienced much of last year. Looking beyond the current environment, I remain bullish on the continuing external trends benefitting our shallow bay, last mile, high-growth market portfolio.
Reid Dunbar
Record leasing activity this quarter reflects the continued strength of demand across our markets and has enabled us to steadily increase our full-year development guidance, and we are now projecting $325 million of starts for 2026. As we have said before, our developments are pulled by market demand, and the leasing progress we are seeing today supports both near-term execution and long-term value creation.
Informational and educational content only. Not investment advice.