EastGroup Properties, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2021
April 26, 2021
Share
EastGroup Properties, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2021. For the quarter, revenues were $97,931,000 against $88,628,000 reported a year ago. Net income was $27,357,000 against $23,298,000 reported a year ago. Basic earnings per share is $0.69 against $0.60 reported a year ago.
EastGroup Properties, Inc. is an internally managed equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in Sunbelt markets throughout the United States, primarily in the states of Florida, Texas, Arizona, California and North Carolina. The Company owns approximately 510 industrial properties in 12 states. The Companyâs portfolio includes development projects and value-add properties in lease-up and under construction, including approximately 59.2 million square feet consisting of 470 business distribution properties containing 53.9 million square feet. It also has 17 bulk distribution properties containing 4.4 million square feet, and 23 business service properties containing 900,000 square feet.