EastGroup Properties reported second-quarter 2026 funds from operations of $2.36 per share, up 6.8% from the prior quarter, and raised its full-year FFO guidance midpoint by $0.03 to $9.59 per share. The company achieved a quarterly leasing record of 3.9 million square feet signed, while development and first-generation leasing also set a record at 1.1 million square feet. Quarterly releasing spreads were 34% on a GAAP basis and 19% on a cash basis, and cash same-store net operating income in Hawaii rose 8.3%. EastGroup increased its 2026 development starts guidance to $325 million and raised its acquisitions guidance by $55 million to $215 million. The balance sheet remained strong with debt-to-total market capitalization of 12.9% and no balance drawn on its unsecured bank credit facility.
EastGroup Properties IncRaised 2026 FFO guidance and reported strong Q2 earnings beat.