JACKSON, MISSISSIPPI, April 20, 2017 – EastGroup Properties, Inc. (NYSE: EGP) announced today the results of its operations for the three months ended March 31, 2017.
Commenting on EastGroup’s performance, Marshall Loeb, CEO, stated, “We are happy with a strong start to the year. Our 8.8% increase in quarterly FFO means that we’ve now achieved FFO per share growth in 23 of the past 24 quarters, truly a long term trend. Adding further emphasis to the trend, during first quarter we signed 2.8 million square feet of leases, our quarterly record high. The high leasing volume was complemented by GAAP re-leasing spreads of 17.4%, also a quarterly record. Overall, we still have lots of work to do in 2017 but are happy with how it’s starting.”