Candorium Free Members
Join Candorium to access the full article and more
Free Member Benefits:
✔
Comment & Reply✔
Newsletter Access✔
Follow Authors✔
Share via SMS Go Back
EastGroup Properties: Q4 Earnings Snapshot
By AP News - Feb 06, 2025, 05:25 PM ET
Last Updated - Feb 06, 2025, 05:25 PM EST
RIDGELAND, Miss. (AP) — RIDGELAND, Miss. (AP) — EastGroup Properties Inc. (EGP) on Thursday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The Ridgeland, Mississippi-based real estate investment trust said it had funds from operations of $108.2 million, or $2.15 per share, in the period.
Sponsored
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $2.16 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $58.6 million, or $1.16 per share.
The real estate investment trust, based in Ridgeland, Mississippi, posted revenue of $164 million in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $166.5 million.
For the year, the company reported funds from operations of $408.2 million. Revenue was reported as $640.2 million.
EastGroup Properties expects full-year funds from operations to be $8.80 to $9 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EGP at https://www.zacks.com/ap/EGP
Sponsored
Read More from Investing
Popular News
Latest News
