Business
EastGroup Properties Announces Standardization of Key Property Metrics among Industrial REITs
EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "our", "us" or "EastGroup") announced today a coalition of industrial real estate investment trusts – EastGroup, First Industrial Realty Trust, Inc., Prologis, Inc., and STAG Industrial, Inc. (collectively, the "Industrial REIT Group") – has updated its standardized methodology for calculating key non-GAAP property metrics to improve comparability across the sector.
About this update from Eastgroup Properties, Inc.
[{"type":"text","content":"JACKSON, Miss., April 1, 2025 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "our", "us" or "EastGroup") announced today a coalition of industrial real estate investment trusts – EastGroup, First Industrial Realty Trust, Inc., Prologis, Inc., and STAG Industrial, Inc. (collectively, the "Industrial REIT Group") – has updated its standardized methodology for calculating key non-GAAP property metrics to improve comparability across the sector.","length":540,"tagName":"p"},{"type":"image","alt":"EastGroup Properties, Inc. logo. (PRNewsfoto/EastGroup Properties, Inc.)","displaySize":"","headline":null,"caption":"EastGroup Properties, Inc. logo. (PRNewsfoto/EastGroup Properties, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":235,"url":"https://media.zenfs.com/en/prnewswire.com/dc5cd32c368617847666adb85272924b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kyJDtGkHMj1BVXurRfi7KA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQxNDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/dc5cd32c368617847666adb85272924b","width":400,"height":235}},"href":"https://mma.prnewswire.com/media/2045746/EastGroup_Properties_v4_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Building on the 2018 harmonization initiative, the Industrial REIT Group reaffirmed its approach to determining property stabilization, occupancy, rent change, and customer retention. Additionally, the annual same-store portfolio will continue to include only properties that were stabilized in both the current and prior periods presented. Criteria to exclude value-added and redevelopment properties from the same store portfolio was also reaffirmed.","length":452,"tagName":"p"},{"type":"text","content":"All Industrial REIT Group members will align their non-GAAP metrics with these methodologies when the metric is disclosed. These methodologies are incorporated in EastGroup's 2025 guidance and are not expected to have a material impact on EastGroup's non-GAAP metrics for periods prior to 2025.","length":302,"tagName":"p"},{"type":"text","content":"While minor differences may remain in calculation methods or terminology, the shared goal is to enhance consistency and comparability across the sector.","length":152,"ta...