Exhibit 99.1 EastGroup Properties Announces First Quarter 2025 Results Quarter Highlights JACKSON, MISSISSIPPI, April 23, 2025 - EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today the results of its operations for the three months ended March 31, 2025. Commenting on EastGroup's performance, Marshall Loeb, CEO, stated, "I'm proud of our first quarter progress. The past two quarters marked two of our three historic highs for square feet of operating portfolio lea ...

Core Insights - EastGroup Properties, Inc. reported a decrease in earnings per share (EPS) to $1.14 for Q1 2025, down from $1.22 in Q1 2024, primarily due to various operational factors [4][12] - Funds from operations (FFO) attributable to common stockholders increased by 8.6% to $2.15 per diluted share compared to $1.98 in the same period last year [4][5] - The company experienced a 13.3% increase in property net operating income (PNOI), amounting to $126.18 million for Q1 2025, compared to $111.36 million in Q1 2024 [6][13] Financial Performance - EPS for Q1 2025 was $1.14, a decrease from $1.22 in Q1 2024 [4][12] - FFO per diluted share was $2.15, up from $1.98, marking an 8.6% increase [4][5] - PNOI increased by $14.82 million, or 13.3%, driven by acquisitions and same property operations [6][13] Operational Highlights - The operating portfolio was 97.3% leased and 96.5% occupied as of March 31, 2025, compared to an average occupancy of 95.8% in Q1 2024 [12] - Rental rates on new and renewal leases increased by an average of 46.9% during Q1 2025 [7][12] - The company signed 30% more square feet of operating portfolio leases in Q1 2025 compared to the same period in 2024 [12] Development and Value-Add Projects - EastGroup began construction on a 262,000 square foot redevelopment project in Los Angeles, with a projected cost of $7.7 million [10] - As of March 31, 2025, the development and value-add program included 20 projects totaling 4.03 million square feet, with a projected total cost of $573.2 million [11] Dividend and Shareholder Returns - A cash dividend of $1.40 per share was declared for Q1 2025, marking the 181st consecutive quarterly cash distribution [16] - The annualized dividend rate of $5.60 per share represents a dividend yield of 3.5% based on the closing stock price of $158.87 on April 22, 2025 [16] Financial Strength and Flexibility - The debt-to-total market capitalization ratio was 13.7% as of March 31, 2025, indicating a strong balance sheet [17] - The interest and fixed charge coverage ratio was 15.0x for Q1 2025, reflecting the company's ability to meet its financial obligations [17] - EastGroup refinanced a $100 million senior unsecured term loan, reducing the effective interest rate to 4.97% [18]

Group 1: EastGroup Properties (EGP) - EastGroup Properties (EGP) shares increased by 7.6% to close at $156.30, following a significant volume of trading, contrasting with a 20.5% loss over the past four weeks [1] - The rise in investor optimism is linked to President Donald Trump's announcement of a 90-day pause on reciprocal tariffs for most countries [1] - The consensus estimate for EGP's quarterly funds from operations (FFO) is projected at $2.11 per share, reflecting a year-over-year increase of 6.6%, with expected revenues of $171.08 million, up 10.9% from the previous year [2] Group 2: Market Trends and Comparisons - The consensus estimate for EGP's FFO per share has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in FFO estimate revisions [3] - EGP currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [3] - Clipper Realty Inc. (CLPR), another company in the same industry, saw a 7.5% increase in its stock price, closing at $3.74, despite a -23.4% return over the past month [3]

Core Insights - EastGroup Properties, Inc. announced a coalition of industrial real estate investment trusts (REITs) to update standardized methodologies for calculating key non-GAAP property metrics, aimed at improving comparability across the sector [1][3] Group 1: Methodology Updates - The Industrial REIT Group reaffirmed its approach to determining property stabilization, occupancy, rent change, and customer retention, building on a 2018 harmonization initiative [2] - The annual same-store portfolio will include only properties that were stabilized in both the current and prior periods, with criteria to exclude value-added and redevelopment properties reaffirmed [2][3] - All members of the Industrial REIT Group will align their non-GAAP metrics with these methodologies, which are incorporated in EastGroup's 2025 guidance [3] Group 2: Company Overview - EastGroup Properties is a self-administered equity REIT focused on the development, acquisition, and operation of industrial properties in high-growth markets across the United States, particularly in Texas, Florida, California, Arizona, and North Carolina [4] - The company's strategy aims to maximize shareholder value by providing functional, flexible, and quality business distribution space, primarily in the 20,000 to 100,000 square foot range [4] - EastGroup's portfolio currently includes approximately 63.1 million square feet, encompassing development projects and value-add acquisitions [4]

Core Viewpoint - EastGroup Properties, Inc. will hold its First Quarter 2025 Earnings Conference Call on April 24, 2025, to discuss financial results and earnings outlook for 2025 [1][2]. Group 1: Earnings Conference Call - The conference call is scheduled for April 24, 2025, at 11:00 a.m. Eastern Time, featuring CEO Marshall Loeb and CFO Brent Wood [1]. - Financial results for the first quarter will be released after market close on April 23, 2025, and will be available on the company's website [2]. - A live broadcast of the conference call can be accessed via telephone or webcast, with replays available until May 1, 2025 [3]. Group 2: Company Overview - EastGroup Properties is a self-administered equity real estate investment trust focused on industrial properties in high-growth markets across the United States, particularly in Texas, Florida, California, Arizona, and North Carolina [4]. - The company aims to maximize shareholder value by providing quality business distribution space, primarily in the 20,000 to 100,000 square foot range [4]. - EastGroup's portfolio includes approximately 63.1 million square feet, encompassing development projects and value-add acquisitions [4].

Core Viewpoint - EastGroup Properties, Inc. (NYSE: EGP) is rated as a Hold for long-term investors interested in real estate investment trusts (REITs), with a recent price increase of +15.3%, indicating it is currently priced at a premium [1]. Company Summary - EastGroup Properties has experienced a price increase of +15.3% since the last coverage, suggesting a premium valuation [1]. - The company operates within the real estate investment trust sector, which is of interest to long-term investors [1]. Analyst Background - The analysis is provided by David A. Johnson, founder and principal of Endurance Capital Management, who has over 30 years of investment experience and holds multiple advanced degrees in finance and business [1].

Group 1 - EastGroup Properties declared a quarterly cash dividend of $1.40 per share, payable on April 15, 2025, to shareholders of record on March 31, 2025 [1] - This dividend marks the 181st consecutive quarterly distribution and represents an annualized dividend rate of $5.60 per share [1] - EastGroup has maintained or increased its dividend for 32 consecutive years, with increases in 29 of those years, including each of the last 13 years [1] Group 2 - EastGroup is a self-administered equity real estate investment trust focused on the development, acquisition, and operation of industrial properties in high-growth markets across the United States [2] - The company emphasizes markets in Texas, Florida, California, Arizona, and North Carolina, aiming to maximize shareholder value by providing quality business distribution space [2] - EastGroup's portfolio includes approximately 63.1 million square feet, encompassing development projects and value-add acquisitions [2]

Financial Performance - EastGroup's rental income for 2024 was $638,035,000, an increase from $566,179,000 in 2023, reflecting a growth in income from real estate operations [139]. - Net Income Attributable to EastGroup Properties, Inc. Common Stockholders was $4.66 per share for 2024, a 5.4% increase from $4.42 in 2023 [119]. - Net Income Attributable to EastGroup Properties, Inc. Common Stockholders for 2024 was $227,751,000, an increase of 13.6% from $200,491,000 in 2023 [167]. - FFO per diluted share for 2024 was $8.35, representing a 7.2% increase from $7.79 in 2023; FFO excluding gains on involuntary conversion was $8.31, up 7.9% from $7.70 [142]. - PNOI for the year ended December 31, 2024, was $464,995,000 ($9.51 per diluted share), an increase from $413,321,000 ($9.12 per diluted share) in 2023, reflecting a growth of approximately 12.5% [169]. Leasing and Occupancy - Average rental rates for new and renewal leases signed in 2024 increased by 53.0% compared to previous leases on the same spaces [118]. - The occupancy rate for EastGroup's operating portfolio was 96.1% at the end of 2024, down from 98.2% at the end of 2023 [122]. - EastGroup executed leases on 9,384,000 square feet of operating properties in 2024, representing 15.9% of its total square footage [118]. - The percentage of leased square footage for the operating portfolio was 97.1% at December 31, 2024, down from 98.7% at December 31, 2023 [168]. - Average rental rate for same properties was $8.22 per square foot in 2024, up from $7.76 in 2023, reflecting a rental rate increase of 53.0% on new and renewal leases [146]. Property Acquisitions and Sales - EastGroup acquired 2,474,000 square feet of operating properties for $390,011,000 during 2024 [125]. - The company sold properties generating gross sales proceeds of $18,311,000 in 2024, recognizing a gain of $8,751,000 on real estate investments [126]. - The Company recognized $8,751,000 in gains on sales of real estate investments during 2024, with gross sales proceeds from sold properties totaling $14,050,000 [150]. - Investment in Development and value-add properties increased to $674,472,000, with total capital invested during 2024 amounting to $245,033,000 [151]. Financial Position and Capital Structure - Total Assets increased by $558,263,000 to $5,077,476,000, while Total Liabilities decreased by $125,647,000 to $1,784,932,000, resulting in Total Equity increasing by $683,910,000 to $3,292,544,000 [145]. - Distributions in excess of earnings increased by $36,699,000 due to dividends on common stock of $264,450,000 exceeding net income [164]. - As of December 31, 2024, total immediate liquidity was approximately $757,320,000, including $17,529,000 in cash and cash equivalents [183]. - As of December 31, 2024, the total unsecured debt amounts to $1,510,000,000 with a weighted average interest rate of 3.34% [187]. - The company has a $625,000,000 unsecured bank credit facility with a maturity date of July 31, 2028, with an interest rate of 5.222% as of December 31, 2024 [191]. Interest and Financing - Interest expense decreased to $38,956,000 ($0.80 per diluted share) in 2024 from $47,996,000 ($1.06 per diluted share) in 2023, a reduction of approximately 18.5% [170]. - Capitalized interest increased by $3,588,000 for 2024 compared to 2023, attributed to changes in development activity and spending [176]. - The company refinanced a $100,000,000 senior unsecured term loan, reducing the credit spread by 30 basis points to an effectively fixed interest rate of 4.97% [189]. - The Company has an unsecured bank credit facility balance of $100,000,000, with a potential interest expense fluctuation of approximately $528,000 annually if interest rates change by 10% [217]. Economic and Market Conditions - Economic conditions significantly impact the Company's financial results, with potential uncollectible rent affecting income from real estate operations [219]. - An economic downturn could lead to increased vacancy rates and reduced rental income upon lease expirations, adversely affecting cash flows [220]. - Most leases include scheduled rent increases and require tenants to pay a pro rata share of operating expenses, mitigating exposure to inflation-related cost increases [218]. Development and Capital Improvements - As of December 31, 2024, EastGroup's development and value-add program consisted of 21 projects totaling 4,143,000 square feet, with a projected total cost of $608,700,000 [124]. - Capital improvements on existing and acquired properties amounted to $58,128,000 during 2024 [149]. - Total real estate improvements amounted to $58,128,000 in 2024, up from $53,550,000 in 2023, representing an increase of about 8.8% [177]. - Total capitalized leasing costs were $34,913,000 in 2024, compared to $31,672,000 in 2023, reflecting an increase of approximately 10.3% [178]. Shareholder Activities - During the year ended December 31, 2024, the company sold 1,373,459 shares of common stock under its ATM programs at a weighted average price of $174.30 per share, generating net proceeds of $236,996,000 [199]. - The company has approximately $719,665,000 of common stock available to be sold under the Current ATM Program as of February 12, 2025 [202]. - The company distributed $252,794,000 in common stock dividends during 2024 [184].

Financial Data and Key Metrics Changes - Funds from operations (FFO) increased by 5.9% for the quarter and 7.9% for the year, excluding involuntary conversions [8] - FFO per share for the fourth quarter was $2.15, up from $2.03 for the same quarter last year [19] - Year-end occupancy was 96.1%, with average quarterly occupancy at 95.8%, down over 200 basis points from Q4 2023 [9] - Cash same-store NOI rose 3.4% for the quarter and 5.6% for the year despite occupancy declines [10] - Debt to total market capitalization was 15%, and debt-to-EBITDA ratio decreased to 3.4x [22] Business Line Data and Key Metrics Changes - Quarterly re-leasing spreads were 47% GAAP and 29% cash, with year-end results at 50% GAAP and 30% cash [10] - The company achieved a record amount of square footage leased within the operating portfolio in Q4 2024 [11] Market Data and Key Metrics Changes - The construction pipeline is at its lowest level since early 2016, indicating a tightening market [16] - The company anticipates a typical run rate of approximately 30 basis points of revenue for uncollectible accounts in 2025 [24] Company Strategy and Development Direction - The company is focused on value creation through raising rents, acquisitions, and development [12] - Acquisitions are guided by criteria to be immediately accretive and to raise the long-term growth profile of the portfolio [14] - The company plans $300 million in new development starts for 2025, primarily in the second half of the year [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about an improving economy and the lack of new supply, which could lead to stronger performance in late 2025 [12] - The management team highlighted the importance of geographic and revenue diversity as a strategic path to stabilize future earnings growth [10] - Management noted that the current environment is characterized as "churning," but they are confident in maintaining high occupancies while pushing rents [27] Other Important Information - The company has a diversified rent roll, with the top 10 tenants accounting for only 7.2% of rents, down 70 basis points from year-end 2023 [10] - The company has $30 million in outstanding forward agreements and full capacity on its $675 million credit facilities [21] Q&A Session Summary Question: Are there any particular markets where the company is seeing "green shoots"? - Management noted that the positive activity is broad-based across various markets, including California, despite some credit challenges [33][35] Question: What is the company's outlook on development demand? - Management anticipates a return of development demand, supported by increased tenant expansion needs and a tightening supply [41][46] Question: What is the company's strategy regarding balance sheet positioning? - The company is not intentionally deleveraging but is taking advantage of equity as a cost-effective capital source relative to debt [49][55] Question: How does the company view rent changes for 2025? - Management expects rent changes to be slightly below previous years but still strong, with a consistent 50% gap increase observed [75][76] Question: What are the expectations for bad debt and lease termination income? - The company anticipates a bad debt rate of 30 basis points for 2025, which is about one-third less than incurred in 2024 [99][104]

Core Viewpoint - EastGroup Properties reported fourth-quarter results that were generally in line with Wall Street estimates, with slight variations in earnings and revenue figures [1] Financial Performance - Earnings per share (EPS) for Q4 2024 was $1.16, slightly above the expected $1.15, while revenue was $164 million, slightly below the expected $166 million [1] - Funds from operations (FFO) per diluted share increased by 5.9% to $2.15 from $2.03 in Q4 2023 [2][6] - Net income per diluted share decreased by 14.1% from $1.35 in Q4 2023 to $1.16 in Q4 2024 [2][5] - Average occupancy rate fell to 95.8% from 98.1% year-over-year [2][5] - The company maintained a steady dividend payout of $1.40 per share [7] Business Overview and Strategy - EastGroup Properties focuses on developing, acquiring, and operating industrial properties, primarily in the economically expanding Sunbelt markets like Florida and Texas [3] - The company commenced construction on new developments totaling 1.585 million square feet in 2024, reflecting a proactive investment strategy [4] - The company aims to maximize occupancy rates, manage leases effectively, and maintain a balanced debt strategy to support growth [4] Operational Highlights - The leasing portfolio showed a strong lease-up rate of 97.1% and an occupancy rate of 96.1% for operational holdings [5] - Despite a decline in average occupancy, rental rates for lease renewals and new contracts increased by 46.6%, indicating strong demand [5] Financial Strategy - EastGroup invested $257 million in property acquisitions and development land, supporting its growth initiatives [6] - The debt-to-total-market-capitalization ratio was reported at 15.4%, indicating a sustainable leverage level [6] Forward Outlook - Leadership projects EPS for 2025 to be between $4.71 and $4.91, with FFO per share expected to be between $8.80 and $9.00 [8] - Stakeholders are advised to monitor the company's strategic expansion and capital deployment, considering potential macroeconomic impacts [9]