EastGroup Properties Reports Strong Third Quarter 2026 Results with Increased Dividend
EastGroup Properties (NYSE: EGP) reported robust financial results for the third quarter of 2026, highlighted by a significant increase in net income per diluted share to $1.46, up from $1.26 in the prior year. The company's Funds From Operations (FFO), excluding specific claims, rose 7.9% year-over-year to $2.45 per diluted share. This growth was driven by a 5.3% increase in same property net operating income and substantial rental rate hikes on new and renewal leases, which averaged 36.3% on a straight-line basis. The company demonstrated strong operational momentum with an occupancy rate of 96.5%. Capital deployment remains active, evidenced by the commencement of nearly one million square feet of new development projects and significant recent acquisitions totaling over 1.5 million square feet. Following these results, EastGroup announced its 187th consecutive quarterly cash dividend increase, raising the payout by 12.9% to $1.75 per share.
Tickers: $EGP
Topics: acquisitions dividend increase FFO net income occupancy rates