What changed in this filing

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Item 1. Financial Statements

2026-07-22 compared with 2026-04-22 · 139 added, 82 removed, 648 unchanged (25% of the section changed)

10 unchanged sentences

5,175,276 5,116,456

Real estate assets held for sale 1,352 —

Unconsolidated investment 6,662 7,007

13 unchanged sentences

53,761,342 shares issued

and outstanding at March 31, 2026 and 53,348,800 at December 31, 2025

and outstanding at June 30, 2026 and 53,348,800 at December 31, 2025

Excess shares;

13 unchanged sentences

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

Three Months Ended

Three Months Ended Six Months Ended

June 30, June 30,

2026 2025 2026 2025

(In thousands, except per share data)

29 unchanged sentences

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

For the three months ended March 31, 2026:

For the six months ended June 30, 2026:

Common Shares Additional

8 unchanged sentences

— 4,658 — — — 4,658

Issuance of 365,620 shares of common

stock, common stock offering, net of

Issuance of 365,620 common shares —

Common stock offering, net of costs

— 68,889 — — — 68,889

8 unchanged sentences

BALANCE, MARCH 31, 2026 5 4,014,198 ( 447,946 ) 10,336 387 3,576,980

For the three months ended March 31, 2025:

Net income — — 75,523 — — 75,523

Net unrealized change in fair value of interest rate swaps — — — 3,426 — 3,426

Common dividends declared — $ 1.55 per

— — ( 83,492 ) — — ( 83,492 )

Stock-based compensation, net of forfeitures

— 3,020 — — — 3,020

Issuance costs related to common stock

— ( 56 ) — — — ( 56 )

Withheld 95 shares of common stock to

satisfy tax withholding obligations in

connection with the issuance of common

— ( 19 ) — — — ( 19 )

Contributions from noncontrolling interest — — — — 16 16

BALANCE, JUNE 30, 2026 $ 5 4,017,143 ( 455,915 ) 13,762 403 3,575,398

See accompanying Notes to Consolidated Financial Statements (unaudited).

EASTGROUP PROPERTIES, INC.

AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

For the six months ended June 30, 2025:

Common Shares Additional

8 unchanged sentences

— 4,791 — — — 4,791

Issuance of 418,373 shares of common

stock, common stock offering, net of

Issuance of 418,373 common shares — Common stock offering, net of costs

— 72,849 — — — 72,849

9 unchanged sentences

BALANCE, MARCH 31, 2025 5 3,746,897 ( 417,058 ) 15,026 287 3,345,157

Net income — — 63,299 — 14 63,313

Net unrealized change in fair value of interest rate swaps — — — ( 4,136 ) — ( 4,136 )

Common dividends declared — $ 1.40 per

— — ( 73,873 ) — — ( 73,873 )

Stock-based compensation, net of forfeitures

— 2,668 — — — 2,668

Issuance of 416,067 common shares —

Common stock offering, net of costs

— 74,061 — — — 74,061

Withheld 122 shares of common stock to satisfy tax withholding obligations in connection with the issuance of common stock

— ( 21 ) — — — ( 21 )

Net distributions to noncontrolling interest — — — — ( 58 ) ( 58 )

BALANCE, JUNE 30, 2025 $ 5 3,823,605 ( 427,632 ) 10,890 243 3,407,111

See accompanying Notes to Consolidated Financial Statements (unaudited).

2 unchanged sentences

CONSOLIDATED STATEMENTS OF CASH FLOWS

Three Months Ended March 31,

Six Months Ended June 30,

(In thousands)

38 unchanged sentences

Cash paid for operating lease liabilities 1,868 1,787

NON-CASH OPERATING ACTIVITY

Operating lease liabilities arising from obtaining right of use assets $ 848 —

SUPPLEMENTAL NON-CASH BALANCES AT END OF PERIOD

16 unchanged sentences

The consolidated financial statements include the accounts of EastGroup, its wholly owned subsidiaries and any joint ventures in which the Company has a controlling interest.

As of March 31, 2026 and December 31, 2025, EastGroup held a controlling interest in two joint venture arrangements.

As of June 30, 2026 and December 31, 2025, EastGroup held a controlling interest in two joint venture arrangements.

The Company had a 95 % controlling interest in a joint venture arrangement owning 6.5 acres of land in San Diego, known by the Company as Miramar Land.

8 unchanged sentences

The Company’s primary source of revenue is rental income from business distribution space.

The table below presents the components of Income from real estate operations for the three months ended March 31, 2026 and 2025:

Three Months Ended March 31,

The table below presents the components of Income from real estate operations for the three and six months ended June 30, 2026 and 2025:

Three Months Ended

June 30, Six Months Ended June 30,

2026 2025 2026 2025

(In thousands)

19 unchanged sentences

If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset.

During the three month periods ended March 31, 2026 and 2025, the Company did not identify any impairment charges which should be recorded.

During the six month periods ended June 30, 2026 and 2025, the Company did not identify any impairment charges which should be recorded.

Depreciation of buildings and other improvements is computed using the straight-line method over estimated useful lives of generally 40 years for buildings and 3 to 15 years for improvements.

1 unchanged sentence

Significant renovations and improvements that improve or extend the useful life of the assets are capitalized.

Depreciation expense was $ 45,199,000 and $ 42,308,000 for the three months ended March 31, 2026 and 2025, respectively.

The Company’s Real estate properties and Development and value-add properties at March 31, 2026 and December 31, 2025 were as follows:

Depreciation expense was $ 45,902,000 and $ 91,101,000 for the three and six months ended June 30, 2026, respectively, and $ 43,093,000 and $ 85,401,000 for the same periods in 2025.

The Company’s Real estate properties and Development and value-add properties at June 30, 2026 and December 31, 2025 were as follows:

2026 December 31,

36 unchanged sentences

Criteria considered in grouping similar assets include geographic location, market and operational risks and the physical characteristics of the assets.

EastGroup determined that its real estate property acquisitions in 2025 and the first three months of 2026 are considered to be acquisitions of groups of similar identifiable assets;

EastGroup determined that its real estate property acquisitions in 2025 and the first six months of 2026 are considered to be acquisitions of groups of similar identifiable assets;

therefore, the acquisitions are not considered to be acquisitions of a business.

11 unchanged sentences

These intangible assets are included in Other assets, net on the Consolidated Balance Sheets and are amortized over the remaining terms of the existing leases.

Net amortization of above and below market lease intangibles, which is included in Income from real estate operations, increased rental income by $ 1,576,000 and $ 1,567,000 for the three months ended March 31, 2026 and 2025, respectively.

Amortization expense for in-place lease intangibles, which is included in Depreciation and amortization, was $ 3,044,000 and $ 3,218,000 for the three months ended March 31, 2026 and 2025, respectively.

During the three months ended March 31, 2026, EastGroup acquired the following properties:

Net amortization of above and below market lease intangibles, which is included in Income from real estate operations, increased rental income by $ 1,548,000 and $ 3,124,000 for the three and six months ended June 30, 2026, respectively, and $ 1,520,000 and $ 3,087,000 for the same periods in 2025.

Amortization expense for in-place lease intangibles, which is included in Depreciation and amortization, was $ 2,969,000 and $ 6,013,000 for the three and six months ended June 30, 2026, respectively, and $ 3,067,000 and $ 6,285,000 for the same periods in 2025.

During the six months ended June 30, 2026, EastGroup acquired the following properties:

REAL ESTATE PROPERTIES ACQUIRED IN 2026

8 unchanged sentences

Excludes acquired development land as discussed below.

There were no acquisitions of value-add properties or development land during the three months ended March 31, 2026.

There were no acquisitions of value-add properties or development land during the six months ended June 30, 2026.

EASTGROUP PROPERTIES, INC.

1 unchanged sentence

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The following table summarizes the allocation of the total consideration for the acquired assets and assumed liabilities in connection with the acquisition identified in the table above which was acquired during the three months ended March 31, 2026.

ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2026

11 unchanged sentences

These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.

The leases in the properties acquired during the three months ended March 31, 2026 had a weighted average remaining lease term at acquisition of approximately 4.0 years.

The leases in the properties acquired during the six months ended June 30, 2026 had a weighted average remaining lease term at acquisition of approximately 4.0 years.

During 2025, EastGroup acquired the following properties:

35 unchanged sentences

The Company periodically reviews the recoverability of goodwill (at least annually) and the recoverability of other intangibles (on a quarterly basis) for possible impairment.

No impairment of goodwill or other intangibles existed during the three month periods ended March 31, 2026 and 2025.

No impairment of goodwill or other intangibles existed during the three and six month periods ended June 30, 2026 and 2025.

(8) REAL ESTATE SOLD AND HELD FOR SALE

1 unchanged sentence

Real estate properties held for sale are reported at the lower of the carrying amount or fair value less estimated costs to sell and are not depreciated while they are held for sale.

As of March 31, 2026, the Company owned one operating property, Beach Commerce Center, that was classified as Real estate assets held for sale as of March 31, 2026 on the Consolidated Balance Sheets.

The property was sold subsequent to March 31, 2026.

See Note 22 for further discussion.

The Company did not classify any properties as held for sale as of December 31, 2025.

The Company did not classify any properties as held for sale as of June 30, 2026 or December 31, 2025.

In accordance with ASC 360 and ASC 205, Presentation of Financial Statements , the Company would report a disposal of a component of an entity or a group of components of an entity in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the component or group of components meets the criteria to be classified as held for sale or when the component or group of components is disposed of by sale or other than by sale.

6 unchanged sentences

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

A summary of Gain on sales of real estate investments for the three months ended March 31, 2026 and the year ended December 31, 2025 follows:

A summary of Gain on sales of real estate investments for the six months ended June 30, 2026 and the year ended December 31, 2025 follows:

REAL ESTATE PROPERTIES SOLD Location Size Date Sold Net Sales Price Basis Recognized Gain

1 unchanged sentence

Shaw Commerce Center Fresno, CA 398,000 02/12/2026 $ 36,291 11,406 24,885

Beach Commerce Center Jacksonville, FL 46,000 04/09/2026 6,610 1,421 5,189

Total for 2026 444,000 $ 42,901 12,827 30,074

Laura Alice Business Center San Francisco, CA 12,000 06/02/2025 $ 3,371 3,371 —

The table above includes sales of operating properties.

Gains on sales of non-operating real estate are included in Other on the Consolidated Statements of Income and Comprehensive Income.

The Company did not sell any land during the three months ended March 31, 2026 or the year ended December 31, 2025.

Gains on sales of non-operating real estate are included in Other income on the Consolidated Statements of Income and Comprehensive Income.

The Company did not sell any land during the six months ended June 30, 2026 or the year ended December 31, 2025.

The Company did not consider its sales in 2026 or 2025 to be disposals of a component of an entity or a group of components of an entity representing a strategic shift that has (or will have) a major effect on the entity’s operations and financial results.

40 unchanged sentences

The credit facility contains options for two six-month extensions (at the Company's election) and an additional $ 625,000,000 accordion (with agreement by all parties).

The interest rate on each tranche is reset on a monthly basis and as of March 31, 2026, was Secured Overnight Financing Rate (“SOFR”) plus 73.5 basis points with an annual facility fee of 14 basis points.

As of March 31, 2026, the Company had no variable rate borrowings on this unsecured bank credit facility and an interest rate of 4.403 %.

The interest rate on each tranche is reset on a monthly basis and as of June 30, 2026, was Secured Overnight Financing Rate (“SOFR”) plus 73.5 basis points with an annual facility fee of 14 basis points.

As of June 30, 2026, the Company had no variable rate borrowings on this unsecured bank credit facility and an interest rate of 4.379 %.

The Company has a $ 337,000 standby letter of credit pledged on this facility, which reduces borrowing capacity under the credit facility.

1 unchanged sentence

the Company also has two six-month extensions available if the extension options in the $ 625,000,000 facility are exercised.

The interest rate is reset on a daily basis and as of March 31, 2026, was SOFR plus 77.5 basis points with an annual facility fee of 15 basis points.

As of March 31, 2026, the interest rate was 4.405 % with no outstanding balance.

The interest rate is reset on a daily basis and as of June 30, 2026, was SOFR plus 77.5 basis points with an annual facility fee of 15 basis points.

As of June 30, 2026, the interest rate was 4.395 % with no outstanding balance.

For both facilities, the margin and facility fee are subject to changes in the Company's credit ratings.

3 unchanged sentences

The margin on the facility can be decreased or increased by up to four basis points and the facility fee can be decreased or increased by up to one basis point.

Scheduled principal payments on long-term debt, including Unsecured debt, net of debt issuance costs (not including Unsecured bank credit facilities, net of debt issuance costs ), as of March 31, 2026, are as follows:

MATURITY DATES Principal Payments Maturing

46 unchanged sentences

See Note 14 for information regarding the Company’s interest rate swaps.

Three Months Ended March 31,

Three Months Ended

June 30, Six Months Ended June 30,

2026 2025 2026 2025

(In thousands)

11 unchanged sentences

Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the term of the agreements without exchange of the underlying notional amount.

As of March 31, 2026, the Company had nine interest rate swaps outstanding, all of which are used to hedge the variable cash flows associated with unsecured loans.

As of June 30, 2026, the Company had nine interest rate swaps outstanding, all of which are used to hedge the variable cash flows associated with unsecured loans.

All of the Company’s interest rate swaps convert the related loans’ Term or Daily SOFR rate components to effectively fixed interest rates, and the Company has concluded that each of the hedging relationships is highly effective.

7 unchanged sentences

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

As of March 31, 2026 and December 31, 2025, the Company had the following outstanding interest rate derivatives that are designated as cash flow hedges of interest rate risk:

NOTIONAL VALUE OF INTEREST RATE DERIVATIVES March 31,

As of June 30, 2026 and December 31, 2025, the Company had the following outstanding interest rate derivatives that are designated as cash flow hedges of interest rate risk:

NOTIONAL VALUE OF INTEREST RATE DERIVATIVES June 30,

2026 December 31,

9 unchanged sentences

Interest Rate Swap 50,000 50,000

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025.

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025.

See Note 18 for additional information on the fair value of the Company’s interest rate swaps.

FAIR VALUE OF DERIVATIVES DESIGNATED AS CASH FLOW HEDGES March 31,

FAIR VALUE OF DERIVATIVES DESIGNATED AS CASH FLOW HEDGES June 30,

2026 December 31,

5 unchanged sentences

(2) Included in Other liabilities on the Consolidated Balance Sheets.

The table below presents the effect of the Company’s derivative financial instruments (interest rate swaps) on the Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2026 and 2025:

Three Months Ended

June 30, Six Months Ended June 30,

EFFECT OF CASH FLOW HEDGES ON OTHER COMPREHENSIVE INCOME (LOSS) 2026 2025 2026 2025

(In thousands)

Amount of income (loss) recognized in Other comprehensive income (loss) on derivatives

Income (loss) recognized in Other comprehensive income (loss)

$ 5,502 ( 1,462 ) 9,612 ( 5,338 )

Amount of (income) reclassified from Accumulated other comprehensive income into

Interest expense

Income reclassified from Accumulated other comprehensive

income into Interest expense

( 2,076 ) ( 2,674 ) ( 4,207 ) ( 5,725 )

Other comprehensive income (loss) — Interest rate swaps $ 3,426 ( 4,136 ) 5,405 ( 11,063 )

See Note 13 for additional information on the Company’s Accumulated other comprehensive income resulting from its interest rate swaps.

2 unchanged sentences

The Company has an agreement with its derivative counterparties containing a provision stating that the Company could be declared in default on its derivative obligations if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender.

As of March 31, 2026, the Company had not posted any collateral related to these agreements and was not in breach of any of the provisions of these agreements.

As of June 30, 2026, the Company had not posted any collateral related to these agreements and was not in breach of any of the provisions of these agreements.

If the Company had breached any of these provisions, it would be required to settle its obligations under the agreements at their termination value.

(15) EARNINGS PER SHARE

The Company applies ASC 260, Earnings Per Share , which requires companies to present basic and diluted earnings per share (“EPS”).

Basic EPS represents the amount of earnings for the period attributable to each share of common stock outstanding during the reporting period.

The Company’s basic EPS is calculated by dividing Net Income Attributable to EastGroup

EASTGROUP PROPERTIES, INC.

1 unchanged sentence

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Properties, Inc.

(15) EARNINGS PER SHARE

The Company applies ASC 260, Earnings Per Share , which requires companies to present basic and diluted earnings per share (“EPS”).

Basic EPS represents the amount of earnings for the period attributable to each share of common stock outstanding during the reporting period.

The Company’s basic EPS is calculated by dividing Net Income Attributable to EastGroup Properties, Inc.

Common Stockholders by the weighted average number of common shares outstanding.

8 unchanged sentences

Three Months Ended

June 30, Six Months Ended June 30,

2026 2025 2026 2025

(In thousands)

9 unchanged sentences

Weighted average shares outstanding — Diluted 53,783 52,579 53,665 52,304

(1) Potentially dilutive securities include outstanding forward equity sale agreements and unvested restricted shares of common stock.

ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF DILUTED EPS (1)

Shares issuable under forward equity sale agreements 489 648 489 648

Unvested restricted shares of common stock 33 31 33 31

Total 522 679 522 679

(1) Anti-dilutive securities could have a dilutive impact on EPS in future periods.

(16) EQUITY OFFERINGS

3 unchanged sentences

and (ii) none of the settlement provisions precluded the agreements from being indexed to our own stock.

On December 5, 2025, we established an ATM common stock offering program pursuant to which we are able to sell from time to time shares of our common stock having an aggregate gross sales price of up to $ 1,000,000,000 (the “Current ATM Program”).

The Current ATM Program replaced our previous $ 1,000,000,000 ATM program, which was established on October 25, 2024, under which we had sold shares of our common stock having an aggregate gross sales price of $ 479,899,000 through December 5, 2025.

In connection with the Current ATM Program, we may sell shares of our common stock directly through sales agents or through certain financial institutions acting as forward counterparties whereby, at our discretion, the forward counterparties, or their agents or affiliates, may borrow from third parties and subsequently sell shares of our common stock.

The use of a forward equity sale agreement allows us to lock in a share price on the sale of shares of our common stock but defer settling and

EASTGROUP PROPERTIES, INC.

1 unchanged sentence

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

receiving the proceeds from the sale of shares until a later date.

The use of a forward equity sale agreement allows us to lock in a share price on the sale of shares of our common stock but defer settling and receiving the proceeds from the sale of shares until a later date.

Additionally, the forward price that we expect to receive upon settlement of an agreement will be subject to adjustment for (i) a floating interest rate factor equal to a specified daily rate less a spread, (ii) the forward purchaser’s stock borrowing costs and (iii) scheduled dividends during the term of the agreement.

Direct Common Stock Issuance Activity

The following table presents the Company’s common stock issuance activity sold directly through sales agents pursuant to the Company's ATM programs during the three months ended March 31, 2026 and the year ended December 31, 2025:

The following table presents the Company’s common stock issuance activity sold directly through sales agents pursuant to the Company's ATM programs during the six months ended June 30, 2026 and the year ended December 31, 2025:

Common Stock (1)

3 unchanged sentences

365,620 $ 191.46 $ 70,000 69,300

Three months ended June 30, 2026

Six months ended June 30, 2026

365,620 $ 191.46 $ 70,000 69,300

Year ended December 31, 2025

2 unchanged sentences

Forward Equity Offering Activity

The following table presents the Company’s forward equity offering activity during the three months ended March 31, 2026 and the year ended December 31, 2025:

The following table presents the Company’s forward equity offering activity during the six months ended June 30, 2026 and the year ended December 31, 2025:

Common Stock Weighted Average Price Gross Proceeds

12 unchanged sentences

252,136 196.16 49,459

New forward sale agreements (1)

788,321 203.15 160,144

Forward sale agreements settled — Shares issued and proceeds

Forward Sale Agreements Outstanding at June 30, 2026 (3)

1,040,457 $ 201.45 $ 209,603

(1) The Company did not receive any proceeds from the sale of common shares by the forward counterparties at the time it entered into forward sale agreements.

(2) EastGroup settled outstanding forward equity sale agreements by issuing 1,449,078 shares of common stock in exchange for net proceeds of approximately $258,066,000 .

(3) Available through forward equity sale agreements before the applicable settlement periods expire, which occur between March and June 2027.

EASTGROUP PROPERTIES, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(17) STOCK-BASED COMPENSATION

6 unchanged sentences

The total compensation expense for service-based and performance-based awards is based upon the fair market value of the shares on the grant date.

The grant date fair value for awards that have been granted and are subject to a future market condition (total shareholder return) are determined using a Monte Carlo simulation pricing model developed to specifically accommodate the unique features of the awards.

The grant date fair value for awards that have been granted and are subject to a future market condition (total shareholder return) is determined using a Monte Carlo simulation pricing model developed to specifically accommodate the unique features of the awards.

The Company accrues dividends on unvested restricted shares and holds the certificates for the shares.

2 unchanged sentences

Forfeitures of awards are recognized as they occur.

EASTGROUP PROPERTIES, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The Compensation Committee of the Company’s Board of Directors (the “Committee”) approves long-term and annual equity compensation awards for the Company’s executive officers.

14 unchanged sentences

The Company begins recognizing the expense for the shares on the grant date and will expense on a straight-line basis over the remaining service period (34% vests at the end of the one-year performance period and 33% vests in each of the following two years).

Equity compensation is also awarded to the Company’s non-executive officers and directors, which are subject to service only conditions and expensed on a straight-line basis over the required service period.

Equity compensation is also awarded to the Company’s non-executive officers and directors, which is subject to service only conditions and expensed on a straight-line basis over the required service period.

The total compensation expense is based upon the fair market value of the shares on the grant date.

2 unchanged sentences

The Company has adjusted its stock-based compensation expense to accelerate the recognition of expense for retirement-eligible employees.

Stock-based compensation cost for employees was $ 4,453,000 for the three months ended March 31, 2026, of which $ 499,000 was capitalized as part of the Company’s development costs.

For the three months ended March 31, 2025, stock-based compensation cost for employees was $ 4,585,000 , of which $ 559,000 was capitalized as part of the Company’s development costs.

Stock-based compensation expense for directors was $ 205,000 and $ 206,000 for the three months ended March 31, 2026 and 2025, respectively.

EASTGROUP PROPERTIES, INC.

1 unchanged sentence

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Stock-based compensation cost for employees was $ 2,823,000 and $ 7,276,000 for the three and six months ended June 30, 2026, respectively, of which $ 227,000 and $ 726,000 was capitalized as part of the Company’s development costs.

For the three and six months ended June 30, 2025, stock-based compensation cost for employees was $ 2,476,000 and $ 7,061,000 , respectively, of which $ 365,000 and $ 924,000 was capitalized as part of the Company’s development costs.

Stock-based compensation expense for directors was $ 197,000 and $ 402,000 for the three and six months ended June 30, 2026, respectively, and $ 192,000 and $ 398,000 for the same periods in 2025.

Following is a summary of the total restricted shares granted, forfeited and delivered (vested) to participants with the related weighted average grant date fair value share prices.

Of the shares that vested in the three months ended March 31, 2026, the Company withheld 33,101 shares to satisfy the tax obligations for those participants who elected this option as permitted under the applicable equity plan.

As of the grant dates, the fair value of shares that were granted during the three months ended March 31, 2026 was $ 10,271,000 .

As of the vesting dates, the aggregate fair value of shares that vested during the three months ended March 31, 2026 was $ 14,450,000 .

Of the shares that vested in the six months ended June 30, 2026, the Company withheld 33,101 shares to satisfy the tax obligations for those participants who elected this option as permitted under the applicable equity plan.

As of the grant dates, the fair value of shares that were granted during the six months ended June 30, 2026 was $ 11,475,000 .

As of the vesting dates, the aggregate fair value of shares that vested during the six months ended June 30, 2026 was $ 15,452,000 .

Three Months Ended

March 31, 2026

June 30, 2026 Six Months Ended June 30, 2026

RESTRICTED STOCK ACTIVITY

Weighted Average Grant Date Fair Value

Shares Weighted Average Grant Date Fair Value

Unvested at beginning of period 85,064 $ 168.55 89,386 $ 174.98

12 unchanged sentences

The FASB Codification requires disclosure of the level within the fair value hierarchy in which the fair value measurements fall, including measurements using quoted prices in active markets for identical assets or liabilities (Level 1), quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active (Level 2) and significant valuation assumptions that are not readily observable in the market (Level 3).

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments in accordance with ASC 820 at March 31, 2026 and December 31, 2025.

March 31, 2026 December 31, 2025

EASTGROUP PROPERTIES, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments in accordance with ASC 820 at June 30, 2026 and December 31, 2025.

June 30, 2026 December 31, 2025

Carrying Amount (1)

16 unchanged sentences

The carrying amounts approximate fair value due to the short maturity of those instruments.

EASTGROUP PROPERTIES, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

• Interest rate swap assets (included in Other assets, net on the Consolidated Balance Sheets):

The instruments are recorded at fair value based on models using inputs, such as interest rate yield curves, SOFR swap curves, observable for substantially the full term of the contract (Level 2 input).

The instruments are recorded at fair value based on models using inputs, such as interest rate yield curves and SOFR swap curves, that are observable for substantially the full term of the contract (Level 2 input).

See Note 14 for additional information on the Company’s interest rate swaps.

4 unchanged sentences

• Interest rate swap liabilities (included in Other liabilities on the Consolidated Balance Sheets):

See Note 14 for additional information on the Company’s interest rate swaps.

7 unchanged sentences

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses , and in January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses , and in January 2025, the FASB

EASTGROUP PROPERTIES, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):

Clarifying the Effective Date .

12 unchanged sentences

(22) SUBSEQUENT EVENTS

Subsequent to March 31, 2026, EastGroup sold Beach Commerce Center, a 46,000 square foot building in Jacksonville, for approximately $ 7,000,000 .

The Company expects to record a gain on the sale in the three months ended June 30, 2026.

Subsequent to June 30, 2026, EastGroup sold 6.9 acres of land in Miami for approximately $ 14,300,000 .

The Company expects to record a gain on the sale during the three months ended September 30, 2026.

Also subsequent to June 30, 2026, EastGroup acquired a business distribution building in Phoenix, containing 143,000 square feet, for approximately $ 27,600,000 .

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements