EastGroup Properties Inc. reported consolidated unaudited earnings results for the first quarter ended March 31, 2013. For the period, the company reported revenue of $48,275,000 compared with $46,397,000 for the same period last year. Operating income was $15,705,000 compared with $14,531,000 for the same period last year. Income from continuing operations was $7,308,000 or $0.24 diluted per share compared with $5,261,000 or $0.18 diluted per share for the same period last year. Net income attributable to EastGroup Properties Inc. common stockholders were $7,154,000 or $0.24 diluted per share compared with $5,403,000 or $0.19 diluted per share for the same period last year. Funds from operations attributable to common stockholders were $22,740,000 or $0.76 diluted per share compared with $21,321,000 or $0.77 diluted per share for the same period last year. Net debt expense was $47,000 for the quarter, compared to $223,000 in the same quarter of last year. The company provided earnings guidance for the second quarter and full year of 2013. For the second quarter, the company expected FFO per share is estimated to be in the range of $7,134,000 to $7,736,000. Diluted EPS is estimated to be in the range of $0.24 to $0.26. Funds from operations attributable to common stockholders are estimated to be in the range of $22,912,000 to $23,514,000. Diluted Funds from operations is estimated to be in the range of $0.76 to $0.78. For 2013, the company expected FFO per share for 2013 is estimated to be in the range of $30,208,000 to $33,214,000. Diluted EPS for 2013 is estimated to be in the range of $1.01 to $1.11. Funds from operations attributable to common stockholders are estimated to be in the range of $93,122,000 to $96,128,000. Diluted Funds from operations for 2013 is estimated to be in the range of $3.10 to $3.20. The company maintains the midpoint of FFO guidance for 2013 at $3.15 per share.

EastGroup Properties Inc. Presents at 17th Annual BURKENROAD REPORTS Investment Conference, Apr-26-2013 11:00 AM. Venue: Westin New Orleans Canal Place Hotel, 100 Rue Iberville, New Orleans, LA 70130, United States. Speakers: Chris Segrest, Vice President.

EastGroup Properties Inc., Q1 2013 Earnings Call, Apr 19, 2013