EastGroup Properties Announces Second Quarter 2020 Results
JACKSON, Miss., July 28, 2020 |PRNewswire| -- Second Quarter 2020 Results Net Income Attributable to Common Stockholders of $0.60 Per Share for Second Quarter 2020 Compared to $0.73 Per Share for Second Quarter 2019 (Second Quarter 2019 Included Gains on Sales of Real Estate Investments of $9.1 Million , or $0.25 Per Share; There Were No Sales in Second Quarter 2020) Funds from Operations of $1.33 Per Share for Second Quarter 2020 Compared to $1.22 Per Share for Second Quarter 2019, an Increase of 9.0% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations for Second Quarter 2020 Increased 2.5% on a Straight-Line Basis and 4.1% on a Cash Basis Compared to Second Quarter 2019 97.5% Leased and 97.0 % Occupied as of June 30, 2020 ; Average Occupancy of 96.6% for the Second Quarter Rental Rates on New and Renewal Leases Increased an Average of 13.8% on a Straight-Line Basis Transferred Five Development Projects (767,000 Square Feet) to the Real Estate Portfolio Development and Value-Add Program Consisted of 20 Projects (3.
EastGroup Properties Announces Second Quarter 2020 Results
JACKSON, Miss., July 28, 2020 |PRNewswire| -- Second Quarter 2020 Results Net Income Attributable to Common Stockholders of $0.60 Per Share for Second Quarter 2020 Compared to $0.73 Per Share for Second Quarter 2019 (Second Quarter 2019 Included Gains on Sales of Real Estate Investments of $9.1 Million , or $0.25 Per Share; There Were No Sales in Second Quarter 2020) Funds from Operations of $1.33 Per Share for Second Quarter 2020 Compared to $1.22 Per Share for Second Quarter 2019, an Increase of 9.0% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations for Second Quarter 2020 Increased 2.5% on a Straight-Line Basis and 4.1% on a Cash Basis Compared to Second Quarter 2019 97.5% Leased and 97.0 % Occupied as of June 30, 2020 ; Average Occupancy of 96.6% for the Second Quarter Rental Rates on New and Renewal Leases Increased an Average of 13.8% on a Straight-Line Basis Transferred Five Development Projects (767,000 Square Feet) to the Real Estate Portfolio Development and Value-Add Program Consisted of 20 Projects (3.