Every material Form 8-K EastGroup Properties filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
EastGroup Properties reported third-quarter 2024 diluted EPS of $1.13, up from $1.07 a year earlier, and FFO excluding gains on involuntary conversion and business interruption claims of $2.13 per share, up 9.2%. The company revised its 2024 FFO per share guidance to $8.33 to $8.37 from $8.28 to $8.38, a narrower range with a slightly higher midpoint, which matters to shareholders because it reflects management's updated view of full-year earnings.
Q3 2024 diluted EPS was $1.13 versus $1.07 in Q3 2023; FFO excluding gains was $2.13 per share versus $1.95, up 9.2%.
2024 FFO per share guidance revised to $8.33 to $8.37 from the July range of $8.28 to $8.38; 2024 EPS guidance is $4.64 to $4.68.
Operating portfolio was 96.9% leased and 96.5% occupied as of September 30, 2024.
Q3 dividend of $1.40 per share was paid October 15, 2024, a 10.2% increase over the prior quarter's dividend.
EastGroup reported second-quarter 2024 diluted EPS of $1.14, up from $0.97 a year earlier, and FFO of $2.09 per share, up 9.4%. The company also revised its 2024 FFO guidance to $8.28-$8.38 per share from $8.17-$8.37 in April, a higher range for shareholders.
Q2 2024 diluted EPS was $1.14 versus $0.97 in Q2 2023; FFO excluding gains was $2.05 per share, up 8.5%
Same PNOI excluding lease termination income rose 5.3% on both straight-line and cash bases for the quarter
2024 FFO per share guidance revised to $8.28-$8.38; 2024 EPS guidance set at $4.63-$4.73
Operating portfolio was 97.4% leased as of June 30, 2024, with average occupancy of 97.0% for the quarter versus 98.1% a year earlier
EastGroup Properties entered a Sixth Amended and Restated Credit Agreement on June 13, 2024, replacing its existing $625 million unsecured revolving credit facility and repaying all outstanding obligations under the prior agreement. The new facility also carries a $625 million accordion feature and an initial maturity of July 31, 2028, and the company separately extended its working cash line on the same terms and date.
New credit facility allows borrowings of up to $625 million, with an initial rate of SOFR plus 0.765%, equal to 6.10% at June 13, 2024
Initial maturity is July 31, 2028, with two six-month extensions at the company's option
Covenants include total liabilities to total asset value of 60% or less and a fixed charge coverage ratio of at least 1.50:1.00
Working cash line with PNC Bank was extended to July 31, 2028 under substantially the same terms
EastGroup Properties reported first-quarter 2024 results on April 23, 2024. Diluted earnings per share were $1.22, up from $1.02 a year earlier, and FFO excluding a gain on involuntary conversion and business interruption claims was $1.98 per share, up 8.8% from $1.82. The company's 2024 outlook calls for EPS of $4.45 to $4.65 and FFO of $8.17 to $8.37 per share, and management plans to discuss a revised outlook on a call on April 24, 2024.
Diluted EPS of $1.22 for Q1 2024 versus $1.02 for Q1 2023
FFO excluding gain on involuntary conversion and business interruption claims of $1.98 per share, up 8.8%
2024 outlook: EPS of $4.45 to $4.65 and FFO of $8.17 to $8.37 per share
Quarterly dividend of $1.27 per share paid April 15, 2024; conference call on April 24, 2024 at 11:00 a.m. Eastern Time
EastGroup Properties reported fourth-quarter 2023 diluted EPS of $1.35 and FFO of $2.03 per share, up 11.5% from a year earlier, with 98.7% of its operating portfolio leased at year-end. The company also gave 2024 guidance of $8.17 to $8.37 in FFO per share, compared with $7.79 for 2023, which the filing says reflects 6.2% growth at the midpoint. For shareholders, the results and outlook are the key figures, along with a declared quarterly dividend of $1.27 per share.
Q4 2023 diluted EPS was $1.35, compared with $0.89 in Q4 2022; FFO was $2.03 per share, compared with $1.82.
Full-year 2023 FFO was $7.79 per share, up 11.3% from $7.00; diluted EPS was $4.42, compared with $4.36.
2024 guidance: EPS of $4.09 to $4.29 and FFO of $8.17 to $8.37 per share.
Quarterly cash dividend of $1.27 per share declared, the company's 176th consecutive quarterly dividend.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every EastGroup Properties filing is on SEC EDGAR ↗. 8-K briefs of other companies →