EastGroup Properties Q3 FFO of $2.45 Per Share Beats Analyst Estimates; Revenue Tops Forecasts

EastGroup Properties Inc. (EGP) on Wednesday reported third-quarter funds from operations of $131.9 million, or $2.45 per share, surpassing the $2.43 per-share average estimate of six analysts surveyed by Zacks Investment Research. The Ridgeland, Mississippi-based real estate investment trust posted net income of $78.4 million, or $1.46 per share, and revenue of $199.4 million, also beating the $197.9 million expected by five analysts. For the quarter ending in December, EastGroup projects per-share funds from operations of $2.47 to $2.53. Full-year FFO is expected to range from $9.62 to $9.68 per share.