EastGroup Properties: Q2 Earnings Snapshot
By AP News
Published - Jul 23, 2024, 04:18 PM ET
Last Updated - Jul 23, 2024, 04:18 PM EDT
RIDGELAND, Miss. (AP) — RIDGELAND, Miss. (AP) — EastGroup Properties Inc. (EGP) on Tuesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The Ridgeland, Mississippi-based real estate investment trust said it had funds from operations of $99.3 million, or $2.05 per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $2.05 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
