EastGroup Properties, Inc. Provides Earnings Guidance for the Second Quarter of Fiscal 2024 and for the Full Year 2024
April 23, 2024 at 04:05 pm EDT
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EastGroup Properties, Inc. provided earnings guidance for the second quarter of fiscal 2024 and for the full year 2024. For the second quarter, the company expected net income attributable to common stockholders to be $49,773,000 to $53,641,0000. Diluted net income per share to be $1.03 to $1.11.
For the full year, the company expected net income attributable to common stockholders to be $216,899,000 to $226,638,0000. Diluted net income per share to be $4.45 to $4.65.
EastGroup Properties, Inc. is an internally managed equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in Sunbelt markets throughout the United States, primarily in the states of Florida, Texas, Arizona, California and North Carolina. The Company owns approximately 510 industrial properties in 12 states. The Companyâs portfolio includes development projects and value-add properties in lease-up and under construction, including approximately 59.2 million square feet consisting of 470 business distribution properties containing 53.9 million square feet. It also has 17 bulk distribution properties containing 4.4 million square feet, and 23 business service properties containing 900,000 square feet.