EastGroup Properties

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EastGroup Properties Joins Other Leading Industrial REITs In Conforming Certain Non-GAAP Operating Metrics

January 17th, 2018

JACKSON, MISSISSIPPI, January 17, 2018 — EastGroup Properties (NYSE-EGP) today announced that a group of leading industrial real estate investment trusts, including, along with the Company, DCT Industrial Trust Inc. (DCT), Duke Realty Corporation (DRE), First Industrial Realty Trust, Inc. (FR), Liberty Property Trust (LPT), Prologis Inc. (PLD), and STAG Industrial, Inc. (STAG) (the “Industrial REIT Group”), has agreed on a consistent methodology to calculate various non-GAAP property operating metrics. These non-GAAP metrics include common methodologies for determining property stabilization and occupancy as well as reporting of comparative changes in rental rates and tenant retention rates. In addition, the Industrial REIT Group has agreed on the definition of the annual pool of properties (“same property pool”) used in calculating same-store or same property net operating income growth (“same property NOI”). Specifically, the annual same property pool will only include properties held as of the beginning of the prior calendar year which were stabilized (according to the agreed upon definition) throughout both periods presented.

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