EastGroup Q4 FFO Increases

(RTTNews) - EastGroup Properties, Inc. (EGP), Wednesday announced an increase in its Funds from Operations or FFO for fourth quarter.

FFO rose to $95.5 million or $2.03 per share compared to last year's $79.2 million or $1.82 per share.

Earnings stood at $63.4 million or $1.35 per share versus $38.6 million or $0.89 per share prior year.

On average, analysts polled by Thomson Reuters estimated a profit of $1.07 per share for the fourth quarter.

Revenue increased to $149.1 million from $129.8 million last year.

Looking forward, the company expects earnings of $4.09 to $4.29 per share and a FFO of $8.17 to $8.37 per share for fiscal year 2024.