EastGroup Properties Announces Third Quarter 2020 Results
JACKSON, Miss. , Oct. 27, 2020 |PRNewswire| -- Third Quarter 2020 Results Net Income Attributable to Common Stockholders of $0.62 Per Share for Third Quarter 2020 Compared to $0.60 Per Share for Third Quarter 2019 Funds from Operations of $1.36 Per Share for Third Quarter 2020 Compared to $1.28 Per Share for Third Quarter 2019, an Increase of 6.3% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations for Third Quarter 2020 Increased 3.0% on a Cash Basis and 2.3% on a Straight-Line Basis Compared to Third Quarter 2019 97.8% Leased and 96.4 % Occupied as of September 30, 2020; Average Occupancy of 96.6% for the Third Quarter 2020 Rental Rates on New and Renewal Leases Increased an Average of 28.0% on a Straight-Line Basis Transferred Seven Development Projects (899,000 Square Feet) to the Real Estate Portfolio Development and Value-Add Program Consisted of 13 Projects (2.2 Million Square Feet) at September 30, 2020 with a Projected Total Investment of $227 Million Declared 163 rd Consecutive Quarterly Cash Dividend - Increased the Dividend by $0.
EastGroup Properties Announces Third Quarter 2020 Results
JACKSON, Miss. , Oct. 27, 2020 |PRNewswire| -- Third Quarter 2020 Results Net Income Attributable to Common Stockholders of $0.62 Per Share for Third Quarter 2020 Compared to $0.60 Per Share for Third Quarter 2019 Funds from Operations of $1.36 Per Share for Third Quarter 2020 Compared to $1.28 Per Share for Third Quarter 2019, an Increase of 6.3% Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations for Third Quarter 2020 Increased 3.0% on a Cash Basis and 2.3% on a Straight-Line Basis Compared to Third Quarter 2019 97.8% Leased and 96.4 % Occupied as of September 30, 2020; Average Occupancy of 96.6% for the Third Quarter 2020 Rental Rates on New and Renewal Leases Increased an Average of 28.0% on a Straight-Line Basis Transferred Seven Development Projects (899,000 Square Feet) to the Real Estate Portfolio Development and Value-Add Program Consisted of 13 Projects (2.2 Million Square Feet) at September 30, 2020 with a Projected Total Investment of $227 Million Declared 163 rd Consecutive Quarterly Cash Dividend - Increased the Dividend by $0.