JACKSON, MISSISSIPPI, October 19, 2016 – EastGroup Properties, Inc. (NYSE: EGP) announced today the results of its operations for the three and nine months ended September 30, 2016.
Commenting on EastGroup’s performance, Marshall Loeb, CEO, stated, “We are pleased with strong third quarter results. Our 10.6% rise in quarterly FFO means that we’ve now achieved FFO per share increases in 21 of the past 22 quarters. Our strategy is simple, straightforward and is working over a long period during what continues to be a
healthy industrial environment.
“Outside of operations, we’re proud of the asset recycling completed year-to-date. Selling older, non-core Houston assets creates further geographic diversification, reduces the average portfolio age and is allowing us to reinvest into higher yielding assets. We view asset recycling as a healthy segment of our long term strategy.”