Eastgroup Properties (NYSE: EGP) reported Q2 EPS of $0.60, $0.07 worse than the analyst estimate of $0.67.

• Funds from Operations of $1.47 Per Share for Second Quarter 2021 Compared to $1.33 Per Share for Second Quarter 2020, an Increase of 10.5%
• Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 5.6% on a Cash Basis and 5.9% on a Straight-Line Basis for Second Quarter 2021 Compared to the Same Period in 2020
• 98.3% Leased and 96.8% Occupied as of June 30, 2021; Average Occupancy of 96.8% for Second Quarter 2021
• Rental Rates on New and Renewal Leases Increased an Average of 31.2% on a Straight-Line Basis
• Acquired 79,000 Square Feet of Operating Properties for $9 Million and 264,000 Square Feet of Value-Add Properties for $20 Million
• Started Construction of Five Development Projects Containing 972,000 Square Feet with Projected Total Costs of $134 Million
• Transferred Six 100% Leased Development and Value-Add Projects (926,000 Square Feet) to the Real Estate Portfolio
• Development and Value-Add Program Consisted of 16 Projects in 12 Cities (3.0 Million Square Feet) at June 30, 2021 with a Projected Total Investment of $329 Million
• Declared 166th Consecutive Quarterly Cash Dividend: $0.79 Per Share
• Closed on $125 Million of Senior Unsecured Notes With a Fixed Interest Rate of 2.74%
• Expanded Borrowing Capacity of Unsecured Bank Credit Facilities from $395 Million to $475 Million with Full Capacity Available as of June 30, 2021; Added a Sustainability Metric to the Credit Agreement
• Issued 370,177 Shares of Common Stock Pursuant to the Company\'s Continuous Common Equity Offering Program at an Average Price of $162.08 Per Share for Aggregate Net Proceeds of $59 Million

For earnings history and earnings-related data on Eastgroup Properties (EGP) click here.