Eastgroup Properties Announces a Correction to the Outlook Assumptions Reported in the First Quarter 2014 Earnings Release

JACKSON, Miss., April 16, 2014 /PRNewswire/ --EastGroup Properties, Inc. (NYSE-EGP) announced today a correction to the assumptions used for the mid-point in its outlook for the remainder of 2014 which was included in its First Quarter 2014 Earnings Release.  This correction does not affect the reported FFO and net income guidance for 2014.  The corrected mid-point assumption is as follows:


As Reported in the

April 16, 2014

Earnings Release

 

 

Corrected




     Same property NOI increase

         without straight-line rent adjustments for the year

 

2.0%

 

2.6%




 

EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.  Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features.  EastGroup's portfolio currently includes 34.5 million square feet.   

EastGroup Properties, Inc. press releases are available on the worldwide web at www.eastgroup.net.

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SOURCE EastGroup Properties, Inc.



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