Eastgroup Properties (EGP) Misses Q1 FFO by 2c; Guides Relatively In-Line

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Go back to Eastgroup Properties (EGP) Misses Q1 FFO by 2c; Guides Relatively In-Line

EastGroup Properties Announces First Quarter 2016 Results

April 20, 2016 4:30 PM EDT

JACKSON, Miss., April 20, 2016 /PRNewswire/ --

Funds from Operations of $.91 Per Share Compared to $.87 Per Share for the Same Quarter Last Year, an Increase of 4.6% Per Share Same Property Net Operating Income (PNOI) Growth: GAAP 2.2% GAAP Without Termination Fees 1.9% Without Straight-Line Rent Adjustments 1.8% Without Straight-Line Rent Adjustments and Termination Fees 1.4% 96.7% Leased, 95.7% Occupied as of March 31, 2016; Average Occupancy of 95.7% for the Quarter GAAP Rental Rates on New and Renewal Leases Increased an Average of 16.5% Sold Two Operating Properties in Houston and Dallas... More