EastGroup Properties, Inc. reported a solid financial performance for the fiscal year ending December 31, 2025, with net income attributable to common stockholders reaching $257.4 million, or $4.87 per diluted share, marking a 4.5% increase from $227.8 million, or $4.66 per diluted share, in 2024. The company’s Property Net Operating Income (PNOI) also saw a significant rise, totaling $528.3 million, a 13.6% increase compared to the previous year. This growth was driven by a combination of increased rental income and effective management of operating expenses, despite ongoing economic uncertainties.
In 2025, EastGroup made notable strategic moves, acquiring 739,000 square feet of operating properties and 300.4 acres of development land for a total of $261.7 million. The company also initiated construction on six development projects totaling 1.4 million square feet and transferred 11 projects, amounting to 2.1 million square feet, from its development program to real estate properties. The company’s operating portfolio was 97.0% leased as of December 31, 2025, slightly down from 97.1% in 2024, with occupancy rates improving to 96.5% from 96.1% year-over-year.
EastGroup's operational metrics indicate a strong market position, with average rental rates for new and renewal leases increasing by 40.1% compared to previous leases. The company executed leases on 9.3 million square feet of operating properties, representing 15.1% of its total square footage. As of February 10, 2026, the operating portfolio remained stable, with 96.5% leased and 96.1% occupied. The company’s focus on high-growth markets, particularly in Texas, Florida, California, Arizona, and North Carolina, continues to support its growth strategy.
The company’s total assets increased to $5.43 billion, up $354.3 million from the previous year, while total liabilities rose to $1.94 billion. EastGroup maintained a strong liquidity position with approximately $654.6 million available, including cash and credit facilities. The company’s financing strategy includes a $675 million unsecured bank credit facility, which it utilizes to fund acquisitions and development projects. Moody’s Ratings affirmed EastGroup's issuer rating of Baa2 with a positive outlook in May 2025, reflecting confidence in the company’s financial stability and growth prospects.
Looking ahead, EastGroup remains optimistic about its growth trajectory, emphasizing its commitment to maximizing shareholder value through strategic acquisitions and development in supply-constrained submarkets. The company plans to continue leveraging its strong operational cash flow and access to capital markets to fund future growth initiatives while navigating the challenges posed by economic fluctuations and market conditions.
About EASTGROUP PROPERTIES INC
EastGroup Properties, Inc. is a Maryland-based REIT specializing in the development, acquisition, and operation of industrial properties in major Sunbelt markets across the U.S. It focuses on high-quality distribution facilities near transportation hubs, serving tenants in supply-constrained submarkets. The company emphasizes sustainable building practices, long-term investments, and strategic growth through property management, development, and capital markets activities.
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