EastGroup Properties reports Q3 adjusted FFO $2.13, consensus $2.10

Reports Q3 revenue $162.88M, consensus $161.32M. Marshall Loeb, CEO, stated, “Our solid performance continued this quarter as evidenced by FFO per share excluding gain on involuntary conversions and business interruption claims rising 9.2%. Our portfolio remains resilient, producing a number of other strong metrics such as our percent leased, year to date releasing spreads and same store net operating income. With a choppy leasing environment matched against a materially shrinking construction pipeline, we are well positioned to benefit within our portfolio as well as fund external growth opportunities. I remain optimistic on the continuing secular tailwinds which benefit our shallow bay, last mile Sunbelt market portfolio.”