EastGroup Properties (EGP) 10-Q 21 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	9 Months Ended
	Sep. 30, 2016	Oct. 20, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	EastGroup Properties Inc
Entity Central Index Key	49,600
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,747,077,000
Entity Common Stock, Shares Outstanding		32,904,064
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016

CONSOLIDATED BALANCE SHEETS - U

CONSOLIDATED BALANCE SHEETS - Unaudited - USD ($)	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Real estate properties	$ 2,089,680,000	$ 2,049,007,000
Development	206,820,000	170,441,000
Real estate and development properties	2,296,500,000	2,219,448,000
Less accumulated depreciation	(679,948,000)	(657,454,000)
Real estate, net	1,616,552,000	1,561,994,000
Unconsolidated investment	7,707,000	8,004,000
Cash	33,000	48,000
Other Assets	94,151,000	91,858,000
TOTAL ASSETS	1,718,443,000	1,661,904,000
LIABILITIES
Secured debt	260,910,000	350,285,000
Unsecured debt	553,035,000	528,210,000
Unsecured bank credit facilities	205,451,000	149,414,000
Accounts payable and accrued expenses	56,045,000	44,181,000
Other liabilities	37,972,000	30,613,000
Total Liabilities	1,113,413,000	1,102,703,000
Stockholders' Equity:
Common shares; $.0001 par value; 70,000,000 shares authorized; 32,904,064 shares issued and outstanding at September 30, 2016 and 32,421,460 at December 31, 2015	3,000	3,000
Excess shares; $.0001 par value; 30,000,000 shares authorized; no shares issued	0	0
Additional paid-in capital on common shares	918,807,000	887,207,000
Distributions in excess of earnings	(308,298,000)	(328,892,000)
Accumulated Other Comprehensive Loss	(9,709,000)	(3,456,000)
Total Stockholders' Equity	600,803,000	554,862,000
Noncontrolling interest in joint ventures	4,227,000	4,339,000
Total Equity	605,030,000	559,201,000
TOTAL LIABILITIES AND EQUITY	$ 1,718,443,000	$ 1,661,904,000

CONSOLIDATED BALANCE SHEETS - 3

CONSOLIDATED BALANCE SHEETS - Unaudited (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common shares, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common shares, authorized	70,000,000	70,000,000
Common shares, issued	32,904,064	32,421,460
Common shares, outstanding	32,904,064	32,421,460
Excess shares, par value (in dollars per share)	$ 0.0001	$ 0.0001
Excess shares, authorized	30,000,000	30,000,000
Excess shares, issued	0	0

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUES
Income from real estate operations	$ 63,178	$ 58,520	$ 186,628	$ 173,922
Other income	12	33	68	67
Revenues	63,190	58,553	186,696	173,989
EXPENSES
Expenses from real estate operations	18,552	16,795	54,130	49,255
Depreciation and amortization	19,361	18,232	57,756	54,358
General and administrative	2,328	3,179	10,663	11,529
Acquisition costs	161	0	161	0
Expenses	40,402	38,206	122,710	115,142
OPERATING INCOME	22,788	20,347	63,986	58,847
OTHER INCOME (EXPENSE)
Interest expense	(8,841)	(8,492)	(27,078)	(25,780)
Gain on Sales of Real Estate Investments	0	0	42,313	2,903
Other	853	242	1,502	851
Net Income	14,800	12,097	80,723	36,821
Net income attributable to noncontrolling interest in joint ventures	(139)	(129)	(438)	(390)
NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS	14,661	11,968	80,285	36,431
Other comprehensive income (loss) - cash flow hedges	2,606	(5,140)	(6,253)	(4,553)
TOTAL COMPREHENSIVE INCOME	$ 17,267	$ 6,828	$ 74,032	$ 31,878
BASIC PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net income attributable to common stockholders	$ 0.45	$ 0.37	$ 2.47	$ 1.14
Weighted average shares outstanding	32,741	32,126	32,458	32,068
DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS [Abstract]
Net income attributable to common stockholders	$ 0.45	$ 0.37	$ 2.47	$ 1.13
Weighted average shares outstanding	32,823	32,248	32,519	32,160
AMOUNTS ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net income attributable to common stockholders	$ 14,661	$ 11,968	$ 80,285	$ 36,431

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - Unaudited - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Distributions In Excess Of Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest in Joint Ventures
BALANCE at Dec. 31, 2015	$ 559,201	$ 3	$ 887,207	$ (328,892)	$ (3,456)	$ 4,339
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	80,723	0	0	80,285	0	438
Net unrealized change in fair value of interest rate swaps	(6,253)	0	0	0	(6,253)	0
Common dividends declared - $1.82 per share	(59,691)	0	0	(59,691)	0	0
Stock-based compensation, net of forfeitures	5,016	0	5,016	0	0	0
Issuance of 447,665 shares of common stock, common stock offering, net of expenses	29,643	0	29,643	0	0	0
Issuance of 2,564 shares of common stock, dividend reinvestment plan	172	0	172	0	0	0
Withheld 57,316 shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock	(3,231)	0	(3,231)	0	0	0
Distributions to noncontrolling interest	(550)	0	0	0	0	(550)
BALANCE at Sep. 30, 2016	$ 605,030	$ 3	$ 918,807	$ (308,298)	$ (9,709)	$ 4,227

CONSOLIDATED STATEMENTS OF CHA6

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - Unaudited (Parenthetical)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Stockholders' Equity Attributable to Parent
Common dividends declared - per share (in dollars per share) | $ / shares	$ 1.82
Issuance of shares of common stock, common stock offering, net of expenses	447,665
Issuance of shares of common stock, dividend reinvestment plan	2,564
Withheld shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock	57,316

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES
Net Income	$ 80,723	$ 36,821
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization from continuing operations	57,756	54,358
Stock-based compensation expense	3,959	5,185
Gain on sales of real estate investments and non-operating real estate	(43,046)	(3,026)
Changes in operating assets and liabilities:
Accrued income and other assets	2,061	2,544
Accounts payable, accrued expenses and prepaid rent	5,221	6,765
Other	278	(87)
NET CASH PROVIDED BY OPERATING ACTIVITIES	106,952	102,560
INVESTING ACTIVITIES
Real estate development	(94,781)	(75,768)
Purchases of real estate	24,955	0
Real estate improvements	(17,184)	(17,753)
Proceeds from sales of real estate investments and non-operating real estate	77,298	5,156
Repayments on mortgage loans receivable	91	87
Changes in accrued development costs	7,469	159
Changes in other assets and other liabilities	(11,995)	(6,333)
NET CASH USED IN INVESTING ACTIVITIES	(64,057)	(94,452)
FINANCING ACTIVITIES
Proceeds from unsecured bank credit facilities	444,314	273,253
Repayments on unsecured bank credit facilities	(388,569)	(229,508)
Repayments on secured debt	(89,295)	(73,031)
Proceeds from Unsecured Debt	105,000	75,000
Repayments on Unsecured Debt	(80,000)	0
Debt issuance costs	(1,165)	(1,767)
Distributions paid to stockholders (not including dividends accrued on unvested restricted stock)	(60,418)	(56,549)
Proceeds from common stock offerings	29,643	6,233
Proceeds from dividend reinvestment plan	179	189
Other	(2,599)	(1,597)
NET CASH USED IN FINANCING ACTIVITIES	(42,910)	(7,777)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(15)	331
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	48	11
CASH AND CASH EQUIVALENTS AT END OF PERIOD	33	342
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest, net of amount capitalized of $3,737 and $3,903 for 2016 and 2015, respectively	$ 25,977	$ 25,958

CONSOLIDATED STATEMENTS OF CAS8

CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Supplemental Cash Flow Information [Abstract]
Cash paid for interest, net of amount capitalized	$ 3,737	$ 3,903

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying unaudited financial statements of EastGroup Properties, Inc. (“EastGroup” or “the Company”) have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In management’s opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The financial statements should be read in conjunction with the financial statements contained in the 2015 annual report on Form 10-K and the notes thereto. Certain reclassifications have been made in the 2015 consolidated financial statements to conform to the 2016 presentation.

PRINCIPLES OF CONSOLIDATION

PRINCIPLES OF CONSOLIDATION	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of EastGroup Properties, Inc., its wholly owned subsidiaries and its investment in any joint ventures in which the Company has a controlling interest. At December 31, 2015 and September 30, 2016, the Company had a controlling interest in two joint ventures: the 80% owned University Business Center and the 80% owned Castilian Research Center. During the second quarter of 2016, Castilian Research Center was sold, and the joint venture is in the process of being terminated. The Company records 100% of the joint ventures’ assets, liabilities, revenues and expenses with noncontrolling interests provided for in accordance with the joint venture agreements. The equity method of accounting is used for the Company’s 50% undivided tenant-in-common interest in Industry Distribution Center II. All significant intercompany transactions and accounts have been eliminated in consolidation.

USE OF ESTIMATES

USE OF ESTIMATES	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Use of Estimates	USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses during the reporting period and to disclose material contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

REAL ESTATE PROPERTIES

REAL ESTATE PROPERTIES	9 Months Ended
	Sep. 30, 2016
Real Estate Investment Property, Net [Abstract]
Real Estate Properties	REAL ESTATE PROPERTIES EastGroup has one reportable segment – industrial properties. These properties are concentrated in major Sunbelt markets of the United States, primarily in the states of Florida, Texas, Arizona, California and North Carolina, have similar economic characteristics and also meet the other criteria permitting the properties to be aggregated into one reportable segment. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows (including estimated future expenditures necessary to substantially complete the asset) expected to be generated by the asset. 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. As of September 30, 2016 and December 31, 2015 , the Company determined that no impairment charges on the Company’s real estate properties were necessary. 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. Building improvements are capitalized, while maintenance and repair expenses are charged to expense as incurred. Significant renovations and improvements that improve or extend the useful life of the assets are capitalized. Depreciation expense was $ 15,855,000 and $47,273,000 for the three and nine months ended September 30, 2016 , respectively, and $14,945,000 and $44,503,000 for the same periods in 2015. The Company’s Real estate properties and Development at September 30, 2016 and December 31, 2015 were as follows: September 30, December 31, (In thousands) Real estate properties: Land $ 306,518 301,435 Buildings and building improvements 1,420,227 1,393,688 Tenant and other improvements 362,935 353,884 Development 206,820 170,441 2,296,500 2,219,448 Less accumulated depreciation (679,948 ) (657,454 ) $ 1,616,552 1,561,994

DEVELOPMENT

DEVELOPMENT	9 Months Ended
	Sep. 30, 2016
DEVELOPMENT [Abstract]
Development	DEVELOPMENT During the period in which a property is under development, costs associated with development (i.e., land, construction costs, interest expense, property taxes and other direct and indirect costs associated with development) are aggregated into the total capitalized costs of the property. Included in these costs are management’s estimates for the portions of internal costs (primarily personnel costs) deemed related to such development activities. The internal costs are allocated to specific development properties based on development activity. As the property becomes occupied, depreciation commences on the occupied portion of the building, and costs are capitalized only for the portion of the building that remains vacant. When the property becomes 80% occupied or one year after completion of the shell construction (whichever comes first), capitalization of development costs, including interest expense, property taxes and internal personnel costs, ceases. The properties are then transferred to Real estate properties , and depreciation commences on the entire property (excluding the land).

BUSINESS COMBINATIONS AND ACQUI

BUSINESS COMBINATIONS AND ACQUIRED INTANGIBLES	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Business Combinations and Acquired Intangibles	BUSINESS COMBINATIONS AND ACQUIRED INTANGIBLES Upon acquisition of real estate properties, the Company applies the principles of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 805, Business Combinations , which requires that acquisition-related costs be recognized as expenses in the periods in which the costs are incurred and the services are received. The Codification also provides guidance on how to properly determine the allocation of the purchase price among the individual components of both the tangible and intangible assets based on their respective fair values. Goodwill is recorded when the purchase price exceeds the fair value of the assets and liabilities acquired. Factors considered by management in allocating the cost of the properties acquired include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. The allocation to tangible assets (land, building and improvements) is based upon management's determination of the value of the property as if it were vacant using discounted cash flow models. The Company determines whether any financing assumed is above or below market based upon comparison to similar financing terms for similar properties. The cost of the properties acquired may be adjusted based on indebtedness assumed from the seller that is determined to be above or below market rates. The purchase price is also allocated among the following categories of intangible assets: the above or below market component of in-place leases, the value of in-place leases, and the value of customer relationships. The value allocable to the above or below market component of an acquired in-place lease is determined based upon the present value (using a discount rate reflecting the risks associated with the acquired leases) of the difference between (i) the contractual amounts to be paid pursuant to the lease over its remaining term, and (ii) management’s estimate of the amounts that would be paid using fair market rates over the remaining term of the lease. The amounts allocated to above and below market leases are included in Other assets and Other liabilities , respectively, on the Consolidated Balance Sheets and are amortized to rental income over the remaining terms of the respective leases. The total amount of intangible assets is further allocated to in-place lease values and customer relationship values based upon management’s assessment of their respective values. These intangible assets are included in Other assets on the Consolidated Balance Sheets and are amortized over the remaining term of the existing lease or the anticipated life of the customer relationship, as applicable. Amortization expense for in-place lease intangibles was $ 1,056,000 and $3,202,000 for the three and nine months ended September 30, 2016 , respectively, and $944,000 and $3,129,000 for the same periods of 2015. Amortization of above and below market leases increased rental income by $ 121,000 and $370,000 for the three and nine months ended September 30, 2016 , respectively, and $94,000 and $326,000 for the same periods of 2015. During the nine months ended September 30, 2016 , EastGroup acquired Parc North, a four -building complex in Fort Worth (Dallas), Texas, for $32 million . The buildings, which contain 446,000 square feet and are currently 42% leased, were recently developed by the seller and are considered to be in the lease-up phase of development. In addition, the Company acquired Flagler Center, a three -building, 358,000 square foot business distribution complex in Jacksonville, Florida, for $24 million . The total cost for the properties acquired by the Company during the nine months ended September 30, 2016 , was $55,939,000 , of which $22,228,000 was allocated to Real estate properties and $30,984,000 was allocated to Development . EastGroup allocated $11,932,000 of the total purchase price to land using third party land valuations for the Dallas and Jacksonville markets. The market values are considered to be Level 3 inputs as defined by ASC 820, Fair Value Measurements and Disclosures (see Note 18 for additional information on ASC 820). Intangibles associated with the purchase of real estate were allocated as follows: $3,187,000 to in-place lease intangibles and $342,000 to above market leases (both included in Other assets on the Consolidated Balance Sheets), and $802,000 to below market leases (included in Other liabilities on the Consolidated Balance Sheets). During the year ended December 31, 2015, the Company acquired Southpark Corporate Center and Springdale Business Center, both in Austin, Texas, for a total cost of $31,574,000 , of which $28,648,000 was allocated to Real estate properties. EastGroup allocated $5,494,000 of the total purchase price to land using third party land valuations for the Austin market. Intangibles associated with the purchase of real estate were allocated as follows: $3,453,000 to in-place lease intangibles (included in Other assets on the Consolidated Balance Sheets) and $527,000 to below market leases (included in Other liabilities on the Consolidated Balance Sheets). The intangible assets, including in-place lease intangibles, above market leases and below market leases, are amortized over the remaining lives of the associated leases in place at the time of acquisition. During the three and nine months ended September 30, 2016 , EastGroup expensed acquisition costs of $161,000 . The Company did not expense any acquisition-related costs during the three and nine months ended September 30, 2015. The Company periodically reviews the recoverability of goodwill (at least annually) and the recoverability of other intangibles (on a quarterly basis) for possible impairment. In management’s opinion, no impairment of goodwill or other intangibles existed at September 30, 2016 and December 31, 2015 .

REAL ESTATE SOLD AND HELD FOR S

REAL ESTATE SOLD AND HELD FOR SALE DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Real Estate Sold and Held For Sale and Discontinued Operations	REAL ESTATE SOLD AND HELD FOR SALE/DISCONTINUED OPERATIONS The Company considers a real estate property to be held for sale when it meets the criteria established under ASC 360, Property, Plant and Equipment, including when it is probable that the property will be sold within a year. 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. In accordance with FASB Accounting Standards Update (ASU) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, 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. In addition, the Company would provide additional disclosures about both discontinued operations and the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation in the financial statements. EastGroup performs an analysis of properties sold to determine whether the sales qualify for discontinued operations presentation. The Company did not classify any properties as held for sale as of September 30, 2016 and December 31, 2015. The Company does not consider its sales in 2015 and the first nine months of 2016 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. During the first quarter of 2016, EastGroup sold the following operating properties in separate transactions: Northwest Point Distribution and Service Centers in Houston and North Stemmons III in Dallas. The properties contain a combined 292,000 square feet and were sold for $18,850,000 . EastGroup recognized gains on the sales of $11,332,000 . Also during the first quarter of 2016, the Company sold a small parcel of land in Orlando for $673,000 and recognized a gain of $10,000 . During the second quarter of 2016, the Company sold the following operating properties in separate transactions: America Plaza, Lockwood Distribution Center, and West Loop Distribution Center 1 & 2 in Houston; North Stemmons II in Dallas; two of its four Interstate Commons Distribution Center buildings in Phoenix; and Castilian Research Center in Santa Barbara, California. The properties contain a combined 872,000 square feet and were sold for $55,210,000 . EastGroup recognized gains on the sales of $30,981,000 . Also during the second quarter of 2016, EastGroup sold a small parcel of land in Dallas for $644,000 and recognized a gain of $133,000 . During the third quarter of 2016, EastGroup did not sell any operating properties and sold approximately 20 acres of land in Houston, Dallas and Orlando in separate transactions for a total of $4,083,000 and recognized gains of $590,000 . EastGroup sold a small parcel of land in New Orleans during the first quarter of 2015 for $170,000 and recognized a gain of $123,000 . During the second quarter of 2015, EastGroup sold one operating property, the last of its three Ambassador Row Warehouses in Dallas containing 185,000 square feet, for $5,250,000 and recognized a gain of $2,903,000 . The Company did not have any sales during the third quarter of 2015. The results of operations and gains on sales for the properties sold or held for sale during the periods presented are reported in continuing operations on the Consolidated Statements of Income and Comprehensive Income. The gains on the sales of land are included in Other , and the gains on the sales of operating properties are included in Gain on sales of real estate investments .

OTHER ASSETS

OTHER ASSETS	9 Months Ended
	Sep. 30, 2016
Other Assets [Abstract]
Other Assets	OTHER ASSETS A summary of the Company’s Other assets follows: September 30, December 31, (In thousands) Leasing costs (principally commissions) $ 63,203 59,043 Accumulated amortization of leasing costs (24,977 ) (23,455 ) Leasing costs (principally commissions), net of accumulated amortization 38,226 35,588 Straight-line rents receivable 27,657 26,482 Allowance for doubtful accounts on straight-line rents receivable (249 ) (167 ) Straight-line rents receivable, net of allowance for doubtful accounts 27,408 26,315 Accounts receivable 4,935 5,615 Allowance for doubtful accounts on accounts receivable (630 ) (394 ) Accounts receivable, net of allowance for doubtful accounts 4,305 5,221 Acquired in-place lease intangibles 19,053 19,061 Accumulated amortization of acquired in-place lease intangibles (8,212 ) (8,205 ) Acquired in-place lease intangibles, net of accumulated amortization 10,841 10,856 Acquired above market lease intangibles 1,574 1,337 Accumulated amortization of acquired above market lease intangibles (714 ) (684 ) Acquired above market lease intangibles, net of accumulated amortization 860 653 Mortgage loans receivable 4,784 4,875 Interest rate swap assets — 400 Goodwill 990 990 Prepaid expenses and other assets 6,737 6,960 Total Other assets $ 94,151 91,858

DEBT

DEBT	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
DEBT	DEBT Secured debt decreased $ 89,375,000 during the nine months ended September 30, 2016 . The decrease primarily resulted from the repayment of two mortgage loans with a combined balance of $75,737,000 and regularly scheduled principal payments of $13,558,000 . Properties encumbered by EastGroup's Secured debt were disclosed in the Company's Form 10-K for the year ended December 31, 2015. During the nine months ended September 30, 2016 , the Company closed collateral substitutions for two of its secured loans. The first collateral substitution was for a loan previously secured by America Plaza, Central Green, Glenmont, West Loop, World Houston 3-9, Interstate I-III, Rojas, Stemmons Circle and Venture. Colorado Crossing in Austin and Steele Creek 1 & 2 in Charlotte were substituted for America Plaza, Central Green, Glenmont and West Loop in Houston. The second collateral substitution was for a loan previously secured by 40th Avenue, Beltway Crossing V, Centennial Park, Executive Airport, Ocean View, Techway Southwest IV, Wetmore 5-8 and World Houston 26, 28, 29 and 30. Interchange Park I in Charlotte was substituted for Techway Southwest IV in Houston. Unsecured debt increased $24,825,000 during the nine months ended September 30, 2016 , primarily due to the closing of senior unsecured term loans totaling $105 million , partially offset by the repayment of an $80 million unsecured term loan. The Company closed a $65 million senior unsecured term loan on April 1, 2016 with a seven -year term and interest only payments. The loan bears interest at the annual rate of LIBOR plus an applicable margin (currently 1.65% ) based on the Company's senior unsecured long-term debt rating. The Company also entered into an interest rate swap agreement to convert the loan's LIBOR rate component to a fixed interest rate for the entire term of the loan providing a total effective fixed interest rate of 2.863% . EastGroup closed a $40 million senior unsecured term loan on July 29, 2016 with a five -year term and interest only payments. The loan bears interest at the annual rate of LIBOR plus an applicable margin (currently 1.10% ) based on the Company's senior unsecured long-term debt rating. The Company also entered into an interest rate swap agreement to convert the loan's LIBOR rate component to a fixed interest rate for the entire term of the loan providing a total effective fixed interest rate of 2.335% . In August 2016, EastGroup repaid (with no penalty) an $80 million unsecured term loan with an effectively fixed interest rate of 2.770% and an original maturity date of August 15, 2018 . On the same day, the Company borrowed $80 million through its $300 million unsecured bank credit facility; the maturity date for the credit facility is July 30, 2019 . The Company re-designated the interest rate swap that was previously applied to the $80 million unsecured term loan to the $80 million unsecured bank credit facility borrowing. The $80 million unsecured bank credit facility draw has an effectively fixed interest rate of 2.020% through the interest rate swap's maturity date of August 15, 2018 . Unsecured bank credit facilities increased $ 56,037,000 during the nine months ended September 30, 2016 , mainly due to proceeds of $444,314,000 (including the $80 million draw on August 15, 2016) exceeding repayments of $388,569,000 during the period. In connection with the adoption of ASU 2015-03, which is described in further detail in Note 17, the Company presents debt issuance costs as reductions of Secured debt, Unsecured debt and Unsecured bank credit facilities on the Consolidated Balance Sheets as detailed below. September 30, December 31, (In thousands) Secured debt - fixed rate, carrying amount $ 262,081 351,401 Unamortized debt issuance costs (1,171 ) (1,116 ) Secured debt 260,910 350,285 Unsecured debt - fixed rate, carrying amount (1) 555,000 530,000 Unamortized debt issuance costs (1,965 ) (1,790 ) Unsecured debt 553,035 528,210 Unsecured bank credit facilities - variable rate, carrying amount 126,581 150,836 Unsecured bank credit facilities - fixed rate, carrying amount (1) 80,000 — Unamortized debt issuance costs (1,130 ) (1,422 ) Unsecured bank credit facilities 205,451 149,414 Total debt $ 1,019,396 1,027,909 (1) These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps. Scheduled principal payments on long-term debt, including Secured debt and Unsecured debt (not including Unsecured bank credit facilities ), as of September 30, 2016 are as follows: Years Ending December 31, (In thousands) Remainder of 2016 $ 3,485 2017 58,239 2018 61,316 2019 130,569 2020 114,097 2021 and beyond 449,375 Total $ 817,081

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	ACCOUNTS PAYABLE AND ACCRUED EXPENSES A summary of the Company’s Accounts payable and accrued expenses follows: September 30, December 31, (In thousands) Property taxes payable $ 27,084 16,055 Development costs payable 13,684 6,215 Property capital expenditures payable 3,466 2,818 Interest payable 3,603 3,704 Dividends payable on unvested restricted stock 1,430 2,157 Other payables and accrued expenses 6,778 13,232 Total Accounts payable and accrued expenses $ 56,045 44,181

OTHER LIABILITIES

OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2016
Other Liabilities Disclosure [Abstract]
Other Liabilities	OTHER LIABILITIES A summary of the Company’s Other liabilities follows: September 30, December 31, (In thousands) Security deposits $ 14,335 13,943 Prepaid rent and other deferred income 9,968 10,003 Acquired below-market lease intangibles 4,059 3,485 Accumulated amortization of below-market lease intangibles (1,629 ) (1,353 ) Acquired below-market lease intangibles, net of accumulated amortization 2,430 2,132 Interest rate swap liabilities 9,742 3,960 Prepaid tenant improvement reimbursements 1,481 493 Other liabilities 16 82 Total Other liabilities $ 37,972 30,613

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2016
COMPREHENSIVE INCOME [Abstract]
Comprehensive Income (Loss) Note [Text Block]	COMPREHENSIVE INCOME Total Comprehensive Income is comprised of net income plus all other changes in equity from non-owner sources and is presented on the Consolidated Statements of Income and Comprehensive Income. The components of Accumulated other comprehensive income (loss) are presented in the Company's Consolidated Statement of Changes in Equity and are summarized below. See Note 13 for information regarding the Company's interest rate swaps. Three Months Ended Nine Months Ended 2016 2015 2016 2015 (In thousands) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS): Balance at beginning of period $ (12,315 ) (1,770 ) (3,456 ) (2,357 ) Change in fair value of interest rate swaps 2,606 (5,140 ) (6,253 ) (4,553 ) Balance at end of period $ (9,709 ) (6,910 ) (9,709 ) (6,910 )

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2016
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risk, including interest rate, liquidity and credit risk primarily by managing the amount, sources and duration of its debt funding and, to a limited extent, the use of derivative instruments. Specifically, the Company has entered into derivative instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company's derivative instruments, described below, are used to manage differences in the amount, timing and duration of the Company's known or expected cash payments principally related to certain of the Company's borrowings. The Company's objective in using interest rate derivatives is to change variable interest rates to fixed interest rates by using interest rate swaps. 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 life of the agreements without exchange of the underlying notional amount. As of September 30, 2016 , the Company had seven 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' LIBOR rate components to effectively fixed interest rates, and the Company has concluded that each of the hedging relationships is highly effective. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in Other comprehensive income (loss) and is subsequently reclassified into earnings through interest expense as interest payments are made in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives, which is immaterial for the periods reported, is recognized directly in earnings (included in Other on the Consolidated Statements of Income and Comprehensive Income). Amounts reported in Other comprehensive income (loss) related to derivatives will be reclassified to Interest expense as interest payments are made on the Company's variable-rate debt. The Company estimates the swap interest payments will be $3,534,000 over the next twelve months. These payments approximate the expected cash interest payments for the swaps. Since the interest payments on the swaps in combination with the associated debt have been effectively fixed, this estimate is not in addition to the Company's total expected combined interest payments or expense for the next twelve months. The Company's valuation methodology for over-the-counter (“OTC”) derivatives is to discount cash flows based on Overnight Index Swap (“OIS”) rates. Uncollateralized or partially-collateralized trades are discounted at OIS rates, but include appropriate economic adjustments for funding costs (i.e., a LIBOR-OIS basis adjustment to approximate uncollateralized cost of funds) and credit risk. As of January 1, 2015, the Company began calculating its derivative valuations using mid-market prices; prior to that date, the Company used bid-market prices. The change in valuation methodology is considered a change in accounting estimate and resulted from recent developments in the marketplace. Management has assessed the impact of the change for all periods presented and has deemed the impact to be immaterial to the Company's financial statements. As of September 30, 2016 and December 31, 2015 , the Company had the following outstanding interest rate derivatives that are designated as cash flow hedges of interest rate risk: Interest Rate Derivative Notional Amount as of September 30, 2016 Notional Amount as of December 31, 2015 (In thousands) Interest Rate Swap $80,000 $80,000 Interest Rate Swap $75,000 $75,000 Interest Rate Swap $75,000 $75,000 Interest Rate Swap $65,000 — Interest Rate Swap $60,000 $60,000 Interest Rate Swap $40,000 — Interest Rate Swap $15,000 $15,000 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 September 30, 2016 and December 31, 2015 . See Note 18 for additional information on the fair value of the Company's interest rate swaps. Derivatives As of September 30, 2016 Derivatives As of December 31, 2015 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as cash flow hedges: Interest rate swap assets Other assets $ — Other assets $ 400 Interest rate swap liabilities Other liabilities 9,742 Other liabilities 3,960 The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (In thousands) DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS Interest Rate Swaps: Amount of income (loss) recognized in Other comprehensive income (loss) on derivatives $ 1,550 (6,261 ) (9,279 ) (7,723 ) Amount of loss reclassified from Accumulated other comprehensive loss into Interest expense (1,056 ) (1,121 ) (3,026 ) (3,170 ) See Note 12 for additional information on the Company's Accumulated other comprehensive income (loss) resulting from its interest rate swaps. Derivative financial agreements expose the Company to credit risk in the event of non-performance by the counterparties under the terms of the interest rate hedge agreements. The Company believes it minimizes the credit risk by transacting with financial institutions the Company regards as credit-worthy. 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 September 30, 2016 , the Company had no derivatives in a net asset position; the fair value of derivatives in a net liability position related to the Company's derivative agreements was $9,742,000 . As of September 30, 2016 , the Company has not posted any collateral related to these agreements. If the Company had breached any of the contractual provisions of the derivative contracts, it could have been required to settle its obligations under the agreements at their termination value of $10,039,000 .

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings per Share	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. The weighted average number of common shares outstanding does not include any potentially dilutive securities or any unvested restricted shares of common stock. These unvested restricted shares, although classified as issued and outstanding, are considered forfeitable until the restrictions lapse and will not be included in the basic EPS calculation until the shares are vested. Diluted EPS represents the amount of earnings for the period attributable to each share of common stock outstanding during the reporting period and to each share that would have been outstanding assuming the issuance of common shares for all dilutive potential common shares outstanding during the reporting period. The Company calculates diluted EPS by dividing Net Income Attributable to EastGroup Properties, Inc. Common Stockholders by the weighted average number of common shares outstanding plus the dilutive effect of unvested restricted stock. The dilutive effect of unvested restricted stock is determined using the treasury stock method. Reconciliation of the numerators and denominators in the basic and diluted EPS computations is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 (In thousands) BASIC EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 14,661 11,968 80,285 36,431 Denominator – weighted average shares outstanding 32,741 32,126 32,458 32,068 DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 14,661 11,968 80,285 36,431 Denominator: Weighted average shares outstanding 32,741 32,126 32,458 32,068 Unvested restricted stock 82 122 61 92 Total Shares 32,823 32,248 32,519 32,160

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION EastGroup applies the provisions of ASC 718, Compensation - Stock Compensation, to account for its stock-based compensation plans. ASC 718 requires that the compensation cost relating to share-based payment transactions be recognized in the financial statements and that the cost be measured on the fair value of the equity or liability instruments issued. Stock-based compensation cost for employees was $706,000 and $4,371,000 for the three and nine months ended September 30, 2016 , respectively, of which $232,000 and $839,000 were capitalized as part of the Company's development costs. For the three and nine months ended September 30, 2015, stock-based compensation cost for employees was $1,855,000 and $6,035,000 , respectively, of which $410,000 and $1,231,000 were capitalized as part of the Company's development costs. Stock-based compensation expense for directors was $ 161,000 and $427,000 for the three and nine months ended September 30, 2016 , respectively, and $133,000 and $381,000 for the same periods of 2015. In the second quarter of 2016, the Compensation Committee of the Company’s Board of Directors (the Committee) approved an equity compensation plan for its executive officers based upon certain annual performance measures (primarily funds from operations (FFO) per share and total shareholder return). Any shares issued pursuant to this compensation plan will be determined by the Committee in its discretion and issued in the first quarter of 2017. The number of shares to be issued on the grant date could range from zero to 44,848 . These shares would generally vest 20% on the date shares are determined and awarded and 20% per year on each January 1 for the subsequent four years. Also in the second quarter of 2016, the Committee approved a long-term equity compensation plan for the Company’s executive officers. The awards will be based on the results of the Company's total shareholder return, both on an absolute basis for 2016 as well as on a relative basis compared to the NAREIT Equity Index, NAREIT Industrial Index and Russell 2000 Index over the five-year period ending December 31, 2016. Any shares issued pursuant to this equity compensation plan will be determined by the Committee in its discretion and issued in the first quarter of 2017. The number of shares to be issued on the grant date could range from zero to 47,275 . These shares would generally vest 25% on the date shares are determined and awarded and 25% per year on each January 1 for the subsequent three years. Notwithstanding the foregoing, any shares issued to the Company’s Chief Financial Officer, N. Keith McKey, under these plans will become fully vested on the grant date of the awards which is expected to occur in the first quarter of 2017. During the third quarter of 2016, 15,250 shares were granted to certain non-executive officers subject only to continued service as of the vesting date. These shares, which have a grant date fair value of $70.62 per share, will vest 20% per year on January 1 in years 2017, 2018, 2019, 2020 and 2021. 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 first nine months of 2016 , the Company withheld 57,316 shares to satisfy the tax obligations for those participants who elected this option as permitted under the applicable equity plan. As of the vesting dates, the aggregate fair value of shares that vested during the first nine months of 2016 was $10,013,000 . Three Months Ended Nine Months Ended Award Activity: September 30, 2016 September 30, 2016 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Unvested at beginning of period 147,045 $ 50.05 260,906 $ 52.69 Granted 15,250 70.62 80,529 58.81 Forfeited — — (910 ) 52.89 Vested — — (178,230 ) 56.09 Unvested at end of period 162,295 $ 51.98 162,295 $ 51.98

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	9 Months Ended
	Sep. 30, 2016
Risks and Uncertainties [Abstract]
Risks and Uncertainties	RISKS AND UNCERTAINTIES The state of the overall economy can significantly impact the Company’s operational performance and thus impact its financial position. Should EastGroup experience a significant decline in operational performance, it may affect the Company’s ability to make distributions to its shareholders, service debt, or meet other financial obligations.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Accounting Changes [Text Block]	RECENT ACCOUNTING PRONOUNCEMENTS EastGroup has evaluated all ASUs recently released by the FASB through the date the financial statements were issued and determined that the following ASUs apply to the Company. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The FASB issued further guidance in ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, that provides clarifying guidance in certain narrow areas and adds some practical expedients. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The effective date of ASU 2014-09 was extended by one year by ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The new standard is effective for the Company on January 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures beginning with the Form 10-Q for the period ended March 31, 2018. The Company has not yet selected a transition method nor has it determined the effect of the standards on its ongoing financial reporting. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to Consolidation Analysis, under which all legal entities are subject to reevaluation under the revised consolidation model. The ASU modifies whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership, affects the consolidation analysis of reporting entities that are involved with VIEs, and provides a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. EastGroup adopted ASU 2015-02 effective January 1, 2016, and the adoption of ASU 2015-02 had an immaterial impact on the Company's financial condition and results of operations. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. For public business entities, the ASU was effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Entities are to apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. EastGroup adopted ASU 2015-03 effective January 1, 2016. Prior to adoption, the Company included debt issuance costs in Other assets on the Consolidated Balance Sheets. Beginning with the Form 10-Q for the period ended March 31, 2016, EastGroup changed its presentation of debt issuance costs for all periods presented; the Company now presents debt issuance costs as direct deductions from the carrying amounts of its debt liabilities both on the Balance Sheet and in the Notes to Consolidated Financial Statements. As a result of the adoption of ASU 2015-03, the Company adjusted its December 31, 2015 Balance Sheet as follows: Balance Sheet Items as of December 31, 2015: As Presented in the Company’s 2015 Form 10-K As Presented in the Company’s Form 10-Q Beginning With the Period Ended March 31, 2016 (In thousands) Other assets $ 96,186 91,858 Total assets 1,666,232 1,661,904 Secured debt 351,401 350,285 Unsecured debt 530,000 528,210 Unsecured bank credit facilities 150,836 149,414 Total liabilities 1,107,031 1,102,703 Total liabilities and equity 1,666,232 1,661,904 In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset, and eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized costs on the balance sheet. EastGroup plans to adopt ASU 2016-01 effective January 1, 2018. The Company does not anticipate the adoption of ASU 2016-01 will have a material impact on the Company's financial condition or results of operations. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. Lessor accounting is largely unchanged under ASU 2016-02. Public business entities are required to apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. EastGroup plans to adopt ASU 2016-02 effective January 1, 2019. The Company does not anticipate the adoption of ASU 2016-02 will have a material impact on the Company's financial condition or results of operations. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The ASU is intended to improve the accounting for share-based payments and affects all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment awards are simplified with the ASU, including income tax consequences, classification of awards as equity or liabilities and classification on the statement of cash flows. ASU 2016-09 is effective for public business entities for annual periods beginning after December 15, 2016, and interim periods within those fiscal years. EastGroup plans to adopt ASU 2016-09 effective January 1, 2017 and will provide the necessary disclosures beginning with its Form 10-Q for the period ending March 31, 2017. The Company does not anticipate the adoption of ASU 2016-09 will have a material impact on the Company's financial condition or results of operations. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which addresses certain cash flow issues, including how debt prepayments or debt extinguishment costs and distributions received from equity method investees are presented. ASU 2016-15 is effective for public business entities for annual periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, and the Company plans to adopt ASU 2016-15 effective January 1, 2017 and will provide the necessary disclosures beginning with its Form 10-Q for the period ending March 31, 2017. The Company does not anticipate the adoption of ASU 2016-15 will have a material impact on the Company's financial condition or results of operations.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS ASC 820, Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also provides guidance for using fair value to measure financial assets and liabilities. The 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 September 30, 2016 and December 31, 2015 . September 30, 2016 December 31, 2015 Carrying Amount (1) Fair Value Carrying Amount (1) Fair Value (In thousands) Financial Assets: Cash and cash equivalents $ 33 33 48 48 Mortgage loans receivable 4,784 4,811 4,875 4,896 Interest rate swap assets — — 400 400 Financial Liabilities: Secured debt (2) 262,081 276,505 351,401 366,491 Unsecured debt (2) 555,000 542,134 530,000 509,326 Unsecured bank credit facilities - variable rate (2) 126,581 126,568 150,836 150,670 Unsecured bank credit facilities - fixed rate (2) 80,000 79,990 — — Interest rate swap liabilities 9,742 9,742 3,960 3,960 (1) Carrying amounts shown in the table are included on the Consolidated Balance Sheets under the indicated captions, except as explained in the notes below. (2) Carrying amounts and fair values shown in the table exclude debt issuance costs (see Note 9 for additional information). The following methods and assumptions were used to estimate the fair value of each class of financial instruments: Cash and cash equivalents: The carrying amounts approximate fair value due to the short maturity of those instruments. Mortgage loans receivable (included in Other assets on the Consolidated Balance Sheets): The fair value is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities (Level 2 input). Interest rate swap assets (included in Other assets on the Consolidated Balance Sheets): The instruments are recorded at fair value based on models using inputs, such as interest rate yield curves, LIBOR swap curves and OIS curves, observable for substantially the full term of the contract (Level 2 input). See Note 13 for additional information on the Company's interest rate swaps. Secured debt: The fair value of the Company’s secured debt is estimated by discounting expected cash flows at the rates currently offered to the Company for debt of the same remaining maturities, as advised by the Company’s bankers (Level 2 input), excluding the effects of debt issuance costs. Unsecured debt: The fair value of the Company’s unsecured debt is estimated by discounting expected cash flows at the rates currently offered to the Company for debt of the same remaining maturities, as advised by the Company’s bankers (Level 2 input), excluding the effects of debt issuance costs. Unsecured bank credit facilities: The fair value of the Company’s unsecured bank credit facilities is estimated by discounting expected cash flows at current market rates (Level 2 input), excluding the effects of debt issuance costs. Interest rate swap liabilities (included in Other liabilities on the Consolidated Balance Sheets): The instruments are recorded at fair value based on models using inputs, such as interest rate yield curves, LIBOR swap curves and OIS curves, observable for substantially the full term of the contract (Level 2 input). See Note 13 for additional information on the Company's interest rate swaps.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The consolidated financial statements include the accounts of EastGroup Properties, Inc., its wholly owned subsidiaries and its investment in any joint ventures in which the Company has a controlling interest. At December 31, 2015 and September 30, 2016, the Company had a controlling interest in two joint ventures: the 80% owned University Business Center and the 80% owned Castilian Research Center. During the second quarter of 2016, Castilian Research Center was sold, and the joint venture is in the process of being terminated. The Company records 100% of the joint ventures’ assets, liabilities, revenues and expenses with noncontrolling interests provided for in accordance with the joint venture agreements. The equity method of accounting is used for the Company’s 50% undivided tenant-in-common interest in Industry Distribution Center II. All significant intercompany transactions and accounts have been eliminated in consolidation.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses during the reporting period and to disclose material contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Business Combinations	Upon acquisition of real estate properties, the Company applies the principles of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 805, Business Combinations , which requires that acquisition-related costs be recognized as expenses in the periods in which the costs are incurred and the services are received. The Codification also provides guidance on how to properly determine the allocation of the purchase price among the individual components of both the tangible and intangible assets based on their respective fair values. Goodwill is recorded when the purchase price exceeds the fair value of the assets and liabilities acquired. Factors considered by management in allocating the cost of the properties acquired include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. The allocation to tangible assets (land, building and improvements) is based upon management's determination of the value of the property as if it were vacant using discounted cash flow models. The Company determines whether any financing assumed is above or below market based upon comparison to similar financing terms for similar properties. The cost of the properties acquired may be adjusted based on indebtedness assumed from the seller that is determined to be above or below market rates. The purchase price is also allocated among the following categories of intangible assets: the above or below market component of in-place leases, the value of in-place leases, and the value of customer relationships. The value allocable to the above or below market component of an acquired in-place lease is determined based upon the present value (using a discount rate reflecting the risks associated with the acquired leases) of the difference between (i) the contractual amounts to be paid pursuant to the lease over its remaining term, and (ii) management’s estimate of the amounts that would be paid using fair market rates over the remaining term of the lease. The amounts allocated to above and below market leases are included in Other assets and Other liabilities , respectively, on the Consolidated Balance Sheets and are amortized to rental income over the remaining terms of the respective leases. The total amount of intangible assets is further allocated to in-place lease values and customer relationship values based upon management’s assessment of their respective values. These intangible assets are included in Other assets on the Consolidated Balance Sheets and are amortized over the remaining term of the existing lease or the anticipated life of the customer relationship, as applicable.
Discontinued Operations	The Company considers a real estate property to be held for sale when it meets the criteria established under ASC 360, Property, Plant and Equipment, including when it is probable that the property will be sold within a year. 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. In accordance with FASB Accounting Standards Update (ASU) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, 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. In addition, the Company would provide additional disclosures about both discontinued operations and the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation in the financial statements. EastGroup performs an analysis of properties sold to determine whether the sales qualify for discontinued operations presentation. The Company did not classify any properties as held for sale as of September 30, 2016 and December 31, 2015. The Company does not consider its sales in 2015 and the first nine months of 2016 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.

REAL ESTATE PROPERTIES (Tables)

REAL ESTATE PROPERTIES (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate Investment Property, Net [Abstract]
Schedule of Real Estate Properties	The Company’s Real estate properties and Development at September 30, 2016 and December 31, 2015 were as follows: September 30, December 31, (In thousands) Real estate properties: Land $ 306,518 301,435 Buildings and building improvements 1,420,227 1,393,688 Tenant and other improvements 362,935 353,884 Development 206,820 170,441 2,296,500 2,219,448 Less accumulated depreciation (679,948 ) (657,454 ) $ 1,616,552 1,561,994

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2016
Other Assets [Abstract]
Other Assets	A summary of the Company’s Other assets follows: September 30, December 31, (In thousands) Leasing costs (principally commissions) $ 63,203 59,043 Accumulated amortization of leasing costs (24,977 ) (23,455 ) Leasing costs (principally commissions), net of accumulated amortization 38,226 35,588 Straight-line rents receivable 27,657 26,482 Allowance for doubtful accounts on straight-line rents receivable (249 ) (167 ) Straight-line rents receivable, net of allowance for doubtful accounts 27,408 26,315 Accounts receivable 4,935 5,615 Allowance for doubtful accounts on accounts receivable (630 ) (394 ) Accounts receivable, net of allowance for doubtful accounts 4,305 5,221 Acquired in-place lease intangibles 19,053 19,061 Accumulated amortization of acquired in-place lease intangibles (8,212 ) (8,205 ) Acquired in-place lease intangibles, net of accumulated amortization 10,841 10,856 Acquired above market lease intangibles 1,574 1,337 Accumulated amortization of acquired above market lease intangibles (714 ) (684 ) Acquired above market lease intangibles, net of accumulated amortization 860 653 Mortgage loans receivable 4,784 4,875 Interest rate swap assets — 400 Goodwill 990 990 Prepaid expenses and other assets 6,737 6,960 Total Other assets $ 94,151 91,858

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Instrument [Line Items]
Long term debt, by type [Table Text Block]	In connection with the adoption of ASU 2015-03, which is described in further detail in Note 17, the Company presents debt issuance costs as reductions of Secured debt, Unsecured debt and Unsecured bank credit facilities on the Consolidated Balance Sheets as detailed below. September 30, December 31, (In thousands) Secured debt - fixed rate, carrying amount $ 262,081 351,401 Unamortized debt issuance costs (1,171 ) (1,116 ) Secured debt 260,910 350,285 Unsecured debt - fixed rate, carrying amount (1) 555,000 530,000 Unamortized debt issuance costs (1,965 ) (1,790 ) Unsecured debt 553,035 528,210 Unsecured bank credit facilities - variable rate, carrying amount 126,581 150,836 Unsecured bank credit facilities - fixed rate, carrying amount (1) 80,000 — Unamortized debt issuance costs (1,130 ) (1,422 ) Unsecured bank credit facilities 205,451 149,414 Total debt $ 1,019,396 1,027,909
Principal payments due during the next five years	Scheduled principal payments on long-term debt, including Secured debt and Unsecured debt (not including Unsecured bank credit facilities ), as of September 30, 2016 are as follows: Years Ending December 31, (In thousands) Remainder of 2016 $ 3,485 2017 58,239 2018 61,316 2019 130,569 2020 114,097 2021 and beyond 449,375 Total $ 817,081

ACCOUNTS PAYABLE AND ACCRUED 31

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Summary of Accounts Payable and Accrued Expenses	A summary of the Company’s Accounts payable and accrued expenses follows: September 30, December 31, (In thousands) Property taxes payable $ 27,084 16,055 Development costs payable 13,684 6,215 Property capital expenditures payable 3,466 2,818 Interest payable 3,603 3,704 Dividends payable on unvested restricted stock 1,430 2,157 Other payables and accrued expenses 6,778 13,232 Total Accounts payable and accrued expenses $ 56,045 44,181

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2016
Other Liabilities Disclosure [Abstract]
Summary of other liabilities	A summary of the Company’s Other liabilities follows: September 30, December 31, (In thousands) Security deposits $ 14,335 13,943 Prepaid rent and other deferred income 9,968 10,003 Acquired below-market lease intangibles 4,059 3,485 Accumulated amortization of below-market lease intangibles (1,629 ) (1,353 ) Acquired below-market lease intangibles, net of accumulated amortization 2,430 2,132 Interest rate swap liabilities 9,742 3,960 Prepaid tenant improvement reimbursements 1,481 493 Other liabilities 16 82 Total Other liabilities $ 37,972 30,613

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2016
COMPREHENSIVE INCOME [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of Accumulated other comprehensive income (loss) are presented in the Company's Consolidated Statement of Changes in Equity and are summarized below. See Note 13 for information regarding the Company's interest rate swaps. Three Months Ended Nine Months Ended 2016 2015 2016 2015 (In thousands) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS): Balance at beginning of period $ (12,315 ) (1,770 ) (3,456 ) (2,357 ) Change in fair value of interest rate swaps 2,606 (5,140 ) (6,253 ) (4,553 ) Balance at end of period $ (9,709 ) (6,910 ) (9,709 ) (6,910 )

DERIVATIVE INSTRUMENTS AND HE34

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2016
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]
Schedule of Derivative Instruments [Table Text Block]	As of September 30, 2016 and December 31, 2015 , the Company had the following outstanding interest rate derivatives that are designated as cash flow hedges of interest rate risk: Interest Rate Derivative Notional Amount as of September 30, 2016 Notional Amount as of December 31, 2015 (In thousands) Interest Rate Swap $80,000 $80,000 Interest Rate Swap $75,000 $75,000 Interest Rate Swap $75,000 $75,000 Interest Rate Swap $65,000 — Interest Rate Swap $60,000 $60,000 Interest Rate Swap $40,000 — Interest Rate Swap $15,000 $15,000
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	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 September 30, 2016 and December 31, 2015 . See Note 18 for additional information on the fair value of the Company's interest rate swaps. Derivatives As of September 30, 2016 Derivatives As of December 31, 2015 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as cash flow hedges: Interest rate swap assets Other assets $ — Other assets $ 400 Interest rate swap liabilities Other liabilities 9,742 Other liabilities 3,960
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]	The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (In thousands) DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS Interest Rate Swaps: Amount of income (loss) recognized in Other comprehensive income (loss) on derivatives $ 1,550 (6,261 ) (9,279 ) (7,723 ) Amount of loss reclassified from Accumulated other comprehensive loss into Interest expense (1,056 ) (1,121 ) (3,026 ) (3,170 )

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Reconciliation of the numerators and denominators in the basic and diluted EPS computations is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 (In thousands) BASIC EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 14,661 11,968 80,285 36,431 Denominator – weighted average shares outstanding 32,741 32,126 32,458 32,068 DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 14,661 11,968 80,285 36,431 Denominator: Weighted average shares outstanding 32,741 32,126 32,458 32,068 Unvested restricted stock 82 122 61 92 Total Shares 32,823 32,248 32,519 32,160

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of total shares granted, forfeited and delivered	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 first nine months of 2016 , the Company withheld 57,316 shares to satisfy the tax obligations for those participants who elected this option as permitted under the applicable equity plan. As of the vesting dates, the aggregate fair value of shares that vested during the first nine months of 2016 was $10,013,000 . Three Months Ended Nine Months Ended Award Activity: September 30, 2016 September 30, 2016 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Unvested at beginning of period 147,045 $ 50.05 260,906 $ 52.69 Granted 15,250 70.62 80,529 58.81 Forfeited — — (910 ) 52.89 Vested — — (178,230 ) 56.09 Unvested at end of period 162,295 $ 51.98 162,295 $ 51.98

RECENT ACCOUNTING PRONOUNCEME37

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. For public business entities, the ASU was effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Entities are to apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. EastGroup adopted ASU 2015-03 effective January 1, 2016. Prior to adoption, the Company included debt issuance costs in Other assets on the Consolidated Balance Sheets. Beginning with the Form 10-Q for the period ended March 31, 2016, EastGroup changed its presentation of debt issuance costs for all periods presented; the Company now presents debt issuance costs as direct deductions from the carrying amounts of its debt liabilities both on the Balance Sheet and in the Notes to Consolidated Financial Statements. As a result of the adoption of ASU 2015-03, the Company adjusted its December 31, 2015 Balance Sheet as follows: Balance Sheet Items as of December 31, 2015: As Presented in the Company’s 2015 Form 10-K As Presented in the Company’s Form 10-Q Beginning With the Period Ended March 31, 2016 (In thousands) Other assets $ 96,186 91,858 Total assets 1,666,232 1,661,904 Secured debt 351,401 350,285 Unsecured debt 530,000 528,210 Unsecured bank credit facilities 150,836 149,414 Total liabilities 1,107,031 1,102,703 Total liabilities and equity 1,666,232 1,661,904

FAIR VALUE OF FINANCIAL INSTR38

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Carrying amounts and fair value of financial instruments	The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments in accordance with ASC 820 at September 30, 2016 and December 31, 2015 . September 30, 2016 December 31, 2015 Carrying Amount (1) Fair Value Carrying Amount (1) Fair Value (In thousands) Financial Assets: Cash and cash equivalents $ 33 33 48 48 Mortgage loans receivable 4,784 4,811 4,875 4,896 Interest rate swap assets — — 400 400 Financial Liabilities: Secured debt (2) 262,081 276,505 351,401 366,491 Unsecured debt (2) 555,000 542,134 530,000 509,326 Unsecured bank credit facilities - variable rate (2) 126,581 126,568 150,836 150,670 Unsecured bank credit facilities - fixed rate (2) 80,000 79,990 — — Interest rate swap liabilities 9,742 9,742 3,960 3,960 (1) Carrying amounts shown in the table are included on the Consolidated Balance Sheets under the indicated captions, except as explained in the notes below. (2) Carrying amounts and fair values shown in the table exclude debt issuance costs (see Note 9 for additional information).

PRINCIPLES OF CONSOLIDATION (De

PRINCIPLES OF CONSOLIDATION (Details) - joint_ventures	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Subsidiaries [Line Items]
Joint Ventures	2	2
University Business Center [Member]
Subsidiaries [Line Items]
Joint venture ownership interest	80.00%	80.00%
Joint ventures' assets, liabilities, revenues and expenses with noncontrolling interests	100.00%	100.00%
Castilian Research Center [Member]
Subsidiaries [Line Items]
Joint venture ownership interest	80.00%	80.00%
Joint ventures' assets, liabilities, revenues and expenses with noncontrolling interests	100.00%	100.00%
Industry Distribution Center II - undivided tenant [Member]
Subsidiaries [Line Items]
Tenant-in-common interest	50.00%	50.00%

REAL ESTATE PROPERTIES (Details

REAL ESTATE PROPERTIES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Real Estate Properties [Line Items]
Depreciation Expense During the Period	$ 15,855,000	$ 14,945,000	$ 47,273,000	$ 44,503,000
Real Estate Properties
Land	306,518,000		306,518,000		$ 301,435,000
Building and building improvements	1,420,227,000		1,420,227,000		1,393,688,000
Tenant and other improvements	362,935,000		362,935,000		353,884,000
Development	206,820,000		206,820,000		170,441,000
Real estate and development properties	2,296,500,000		2,296,500,000		2,219,448,000
Less accumulated depreciation	(679,948,000)		(679,948,000)		(657,454,000)
Real estate, net	$ 1,616,552,000		$ 1,616,552,000		$ 1,561,994,000
Building [Member]
Real Estate Properties [Line Items]
Property, Plant and Equipment, Useful Life			40 years
Minimum [Member] | Improvements [Member]
Real Estate Properties [Line Items]
Property, Plant and Equipment, Useful Life			3 years
Maximum [Member] | Improvements [Member]
Real Estate Properties [Line Items]
Property, Plant and Equipment, Useful Life			15 years

DEVELOPMENT (Details)

DEVELOPMENT (Details)	9 Months Ended
	Sep. 30, 2016
DEVELOPMENT [Abstract]
Percentage of Property Occupation by Tenants when Development Cost Ceased Being Capitalized	80.00%
Length of Time After Project Completion When Development Cost are no Longer Capitalized	1 year

BUSINESS COMBINATIONS AND ACQ42

BUSINESS COMBINATIONS AND ACQUIRED INTANGIBLES (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)ft²Integer	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Amortization expense for lease intangibles	$ 1,056,000	$ 944,000	$ 3,202,000	$ 3,129,000
Above and below market leases Increase (decrease) rental Income	121,000	94,000	370,000	326,000
Acquisition-related costs expensed	$ 161,000	$ 0	$ 161,000	$ 0
Parc North [Member]
Business Acquisition [Line Items]
Number of buildings | Integer			4
Total cost of properties purchased			$ 32,000,000
Size (in square feet) of buildings acquired | ft²			446,000
Property percent leased	42.00%		42.00%
Flagler Center [Member]
Business Acquisition [Line Items]
Number of buildings | Integer			3
Total cost of properties purchased			$ 24,000,000
Size (in square feet) of buildings acquired | ft²			358,000
Flagler Center and Parc North [Member]
Business Acquisition [Line Items]
Total cost of properties purchased			$ 55,939,000
Amount of total cost allocated to land	$ 11,932,000		11,932,000
Flagler Center and Parc North [Member] | Leases, Acquired-in-Place [Member]
Business Acquisition [Line Items]
Intangible acquired associated with purchase of Real Estate	3,187,000		3,187,000
Flagler Center and Parc North [Member] | Above Market Leases [Member]
Business Acquisition [Line Items]
Intangible acquired associated with purchase of Real Estate	342,000		342,000
Flagler Center and Parc North [Member] | Below market lease [Member]
Business Acquisition [Line Items]
Intangible acquired associated with purchase of Real Estate	802,000		802,000
Southpark Corporate Center and Springdale Business Center [Domain]
Business Acquisition [Line Items]
Total cost of properties purchased					$ 31,574,000
Amount of total cost allocated to land					5,494,000
Southpark Corporate Center and Springdale Business Center [Domain] | Leases, Acquired-in-Place [Member]
Business Acquisition [Line Items]
Intangible acquired associated with purchase of Real Estate					3,453,000
Southpark Corporate Center and Springdale Business Center [Domain] | Below market lease [Member]
Business Acquisition [Line Items]
Intangible acquired associated with purchase of Real Estate					527,000
Real Estate Properties [Domain] | Flagler Center and Parc North [Member]
Business Acquisition [Line Items]
Amount of total cost allocated to real estate properties	22,228,000		22,228,000
Real Estate Properties [Domain] | Southpark Corporate Center and Springdale Business Center [Domain]
Business Acquisition [Line Items]
Amount of total cost allocated to real estate properties					$ 28,648,000
Industrial Development [Member] | Flagler Center and Parc North [Member]
Business Acquisition [Line Items]
Amount of total cost allocated to real estate properties	$ 30,984,000		$ 30,984,000

REAL ESTATE SOLD AND HELD FOR43

REAL ESTATE SOLD AND HELD FOR SALE DISCONTINUED OPERATIONS (Details)	3 Months Ended
	Sep. 30, 2016USD ($)a	Jun. 30, 2016USD ($)ft²	Mar. 31, 2016USD ($)ft²	Jun. 30, 2015USD ($)ft²properties	Mar. 31, 2015USD ($)
Northwest Point Distribution and Service Centers and North Stemmons III [Member]
Long Lived Assets Held-for-sale [Line Items]
Square Footage of Real Estate Property | ft²			292,000
Gain (Loss) on Sale of Properties			$ 11,332,000
Proceeds from Sale of Property, Plant, and Equipment			18,850,000
Sale of America Plaza, Lockwood, West Loop 1 & 2, North Stemmons II, Interstate Commons 1 & 2 and Castilian Research Center [Member]
Long Lived Assets Held-for-sale [Line Items]
Square Footage of Real Estate Property | ft²		872,000
Gain (Loss) on Sale of Properties		$ 30,981,000
Proceeds from Sale of Property, Plant, and Equipment		55,210,000
Ambassador Row Warehouse (one building sold in 2015) [Member]
Long Lived Assets Held-for-sale [Line Items]
Number of real estate properties transferred to held for sale and sold | properties				1
Square Footage of Real Estate Property | ft²				185,000
Gain (Loss) on Sale of Properties				$ 2,903,000
Proceeds from Sale of Property, Plant, and Equipment				$ 5,250,000
Land [Member]
Long Lived Assets Held-for-sale [Line Items]
Proceeds from Sale of Property, Plant, and Equipment	$ 4,083,000	644,000	673,000		$ 170,000
Gain on sales of land	$ 590,000	$ 133,000	$ 10,000		$ 123,000
Area of Land | a	20

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other Assets Components [Abstract]
Leasing costs (principally commissions)	$ 63,203	$ 59,043
Accumulated amortization of leasing costs	(24,977)	(23,455)
Leasing costs (principally commissions), net of accumulated amortization	38,226	35,588
Straight-line rents receivable	27,657	26,482
Allowance for doubtful accounts on straight-line rents receivable	(249)	(167)
Straight-line rents receivable, net of allowance for doubtful accounts	27,408	26,315
Accounts receivable	4,935	5,615
Allowance for doubtful accounts on accounts receivable	(630)	(394)
Accounts receivable, net of allowance for doubtful accounts	4,305	5,221
Acquired in-place lease intangibles	19,053	19,061
Accumulated amortization of acquired in-place lease intangibles	(8,212)	(8,205)
Acquired in-place lease intangibles, net of accumulated amortization	10,841	10,856
Acquired above market lease intangibles	1,574	1,337
Accumulated amortization of acquired above market lease intangibles	(714)	(684)
Acquired above market lease intangibles, net of accumulated amortization	860	653
Mortgage loans receivable	4,784	4,875
Interest rate swap assets	0	400
Goodwill	990	990
Prepaid expenses and other assets	6,737	6,960
Other Assets Total	$ 94,151	$ 91,858

DEBT (Details)

DEBT (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Secured and Unsecured Debt [Line Items]
Repayments of Bank Debt	$ 388,569,000	$ 229,508,000
Proceeds from Issuance of Unsecured Debt	105,000,000	75,000,000
Repayments on Unsecured Debt	(80,000,000)	0
Unsecured bank credit facilities, change during period	56,037,000
Proceeds from unsecured bank credit facilities	444,314,000	$ 273,253,000
Loans Payable, Noncurrent [Abstract]
Secured Debt	260,910,000		$ 350,285,000
Unsecured Debt	553,035,000		528,210,000
Unsecured bank credit facilities	205,451,000		149,414,000
Total debt	1,019,396,000		1,027,909,000
Secured Debt [Member]
Secured and Unsecured Debt [Line Items]
Secured debt, change during period	$ (89,375,000)
Number of secured loans repaid during period	2
Secured debt, amount repaid during period	$ 75,737,000
Secured debt, principal payments during period	13,558,000
Secured and unsecured debt [Member]
Payments of principal over future years [Abstract]
Remainder of 2016	3,485,000
2,017	58,239,000
2,018	61,316,000
2,019	130,569,000
2,020	114,097,000
2021 and beyond	449,375,000
Long-term debt, maturities, secured debt and unsecured debt	817,081,000
Unsecured Debt [Member]
Secured and Unsecured Debt [Line Items]
Unsecured debt, change during period	24,825,000
Sixty-five million term loan (2016) [Member]
Secured and Unsecured Debt [Line Items]
Unsecured debt, notional amount	$ 65,000,000
Unsecured debt, term (in years)	7
Interest Rate (in hundredths)	2.863%
Long-term debt, margin over LIBOR rate	1.65%
Secured Debt [Member]
Loans Payable, Noncurrent [Abstract]
Secured debt, carrying amount	$ 262,081,000		351,401,000
Unamortized debt issuance costs	(1,171,000)		(1,116,000)
Secured Debt	260,910,000		350,285,000
Unsecured Debt [Member]
Loans Payable, Noncurrent [Abstract]
Unsecured debt, carrying amount	555,000,000		530,000,000
Unamortized debt issuance costs	(1,965,000)		(1,790,000)
Unsecured Debt	553,035,000		528,210,000
Unsecured bank credit facilities
Loans Payable, Noncurrent [Abstract]
Unsecured bank credit facilities - variable rate, carrying amount	126,581,000		150,836,000
Unsecured bank credit facilities - fixed rate, carrying amount	80,000,000		0
Unamortized debt issuance costs	(1,130,000)		(1,422,000)
Unsecured bank credit facilities	205,451,000		$ 149,414,000
$40 million term loan (2016) [Member]
Secured and Unsecured Debt [Line Items]
Unsecured debt, notional amount	$ 40,000,000
Unsecured debt, term (in years)	5
Interest Rate (in hundredths)	2.335%
Long-term debt, margin over LIBOR rate	1.10%
$80 million term loan (repaid in 2016) [Member]
Secured and Unsecured Debt [Line Items]
Unsecured debt, notional amount	$ 80,000,000
Interest Rate (in hundredths)	2.77%
Nine bank group unsecured revolving credit facility [Member]
Secured and Unsecured Debt [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 300,000,000
Nine bank group unsecured revolving credit facility [Member] | $80 million draw on unsecured bank credit facilities - fixed rate due to interest rate swap [Member]
Secured and Unsecured Debt [Line Items]
Interest Rate (in hundredths)	2.02%
Proceeds from unsecured bank credit facilities	$ 80,000,000

ACCOUNTS PAYABLE AND ACCRUED 46

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities [Abstract]
Property taxes payable	$ 27,084	$ 16,055
Development costs payable	13,684	6,215
Property capital expenditures payable	3,466	2,818
Interest payable	3,603	3,704
Dividends payable on unvested restricted stock	1,430	2,157
Other payables and accrued expenses	6,778	13,232
Accounts payable and accrued expenses	$ 56,045	$ 44,181

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other Liabilities, Unclassified [Abstract]
Security deposits	$ 14,335	$ 13,943
Prepaid rent and other deferred income	9,968	10,003
Acquired Below Market Lease Intangibles	4,059	3,485
Accumulated Amortization of Acquired Below Market Lease Intangibles	(1,629)	(1,353)
Acquired Below Market Lease Intangibles, Net of Accumulated Amortization	2,430	2,132
Interest rate swap liabilities	9,742	3,960
Prepaid tenant improvement reimbursements	1,481	493
Other liabilities	16	82
Other Liabilities - total	$ 37,972	$ 30,613

COMPREHENSIVE INCOME (Details)

COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
COMPREHENSIVE INCOME [Abstract]
Balance at Beginning of Period, Accumulated Other Comprehensive Loss	$ (12,315)	$ (1,770)	$ (3,456)	$ (2,357)
Net unrealized change in fair value of interest rate swaps	2,606	(5,140)	(6,253)	(4,553)
Balance at End of Period, Accumulated Other Comprehensive Loss	$ (9,709)	$ (6,910)	$ (9,709)	$ (6,910)

DERIVATIVE INSTRUMENTS AND HE49

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)Integer	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Integer	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Derivative [Line Items]
Number of interest rate swaps | Integer	7		7
Interest Rate Cash Flow Hedge Assets at Fair Value	$ 0		$ 0		$ 400,000
Interest rate cash flow hedge liabilities at fair value	9,742,000		9,742,000		3,960,000
Eighty Million Unsecured Term Loan [Member]
Derivative [Line Items]
Term Loan Notional Amount Associated with Interest Rate Swap Derivative
Seventy-five Million Unsecured Term Loan [Member]
Derivative [Line Items]
Term Loan Notional Amount Associated with Interest Rate Swap Derivative
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Instruments, Loss Recognized in Other Comprehensive Loss, Effective Portion, Net	1,550,000	$ (6,261,000)	(9,279,000)	$ (7,723,000)
Amount of income (loss) reclassified from accumulated other comprehensive loss into interest expense	(1,056,000)	$ (1,121,000)	(3,026,000)	$ (3,170,000)
Cash flow hedge amount to be reclassified to Interest Expense in next 12 months [Line Items]	3,534,000		3,534,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivative [Line Items]
Interest Rate Cash Flow Hedge Assets at Fair Value	0		0		400,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Interest rate cash flow hedge liabilities at fair value	9,742,000		9,742,000		3,960,000
Interest rate swap cash flow hedge termination value	10,039,000		10,039,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $80 million interest rate swap [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	80,000,000		80,000,000		80,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $75 million interest rate swap executed in 2014 [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	75,000,000		75,000,000		75,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $75 million interest rate swap executed in 2015 [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	75,000,000		75,000,000		75,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $65 million interest rate swap executed in 2016 [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	65,000,000		65,000,000		0
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $60 million interest rate swap [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	60,000,000		60,000,000		60,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $40 million interest rate swap (2016) [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	40,000,000		40,000,000		0
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $15 million interest rate swap [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	$ 15,000,000		$ 15,000,000		$ 15,000,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
BASIC EPS COMPUTATION FOR NET INCOME AVAILABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS [Abstract]
Numerator – net income attributable to common stockholders	$ 14,661	$ 11,968	$ 80,285	$ 36,431
Denominator - Weighted average shares outstanding	32,741	32,126	32,458	32,068
DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Numerator – net income attributable to common stockholders	$ 14,661	$ 11,968	$ 80,285	$ 36,431
Denominator - Weighted average shares outstanding	32,741	32,126	32,458	32,068
Unvested restricted stock	82	122	61	92
Total Shares	32,823	32,248	32,519	32,160

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense			$ (5,016,000)
Award Recipient Type Employee [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation costs capitalized as development costs	$ 232,000	$ 410,000	839,000	$ 1,231,000
Allocated Share-based Compensation Expense	$ 706,000	1,855,000	$ 4,371,000	6,035,000
Shares withheld for tax obligations			57,316
Fair value of shares vested as of the vesting date			$ 10,013,000
Award Recipient Type Employee [Member] | Equity Incentive Plan 2013 [Member] | Restricted Stock [Member] | Non Executive Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of shares issued (in dollars per share)			$ 70.62
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)			15,250
Weighted Average Grant Date Fair Value [Abstract]
Granted (per share)			$ 70.62
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			20.00%
Award Recipient Type Employee [Member] | Equity Incentive Plan 2013 [Member] | Restricted Stock [Member] | Company Performance Awards [Member] | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other Than Options, Potential Grants in Future Period (minimum)			0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other Than Options, Potential Grants in Future Period (maximum)			44,848
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Percent of future vesting that will occur on grant date			20.00%
Share Based Compensation Arrangement By Share Based Payment Award Possible Shares To Be Awarded Vesting Rights			20.00%
Award Recipient Type Employee [Member] | Equity Incentive Plan 2013 [Member] | Restricted Stock [Member] | Shareholder Return Awards [Member] | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other Than Options, Potential Grants in Future Period (minimum)			0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other Than Options, Potential Grants in Future Period (maximum)			47,275
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Percent of future vesting that will occur on grant date			25.00%
Share Based Compensation Arrangement By Share Based Payment Award Possible Shares To Be Awarded Vesting Rights			25.00%
Award Recipient Type Employees and Directors [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of shares issued (in dollars per share)	$ 70.62		$ 58.81
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of period (in shares)	147,045		260,906
Granted (in shares)	15,250		80,529
Forfeited (in shares)	0		(910)
Vested (in shares)	0		(178,230)
Unvested at end of period (in shares)	162,295		162,295
Weighted Average Grant Date Fair Value [Abstract]
Unvested at beginning of period (per share)	$ 50.05		$ 52.69
Granted (per share)	70.62		58.81
Forfeited (per share)	0		52.89
Vested (per share)	0		56.09
Unvested at end of period (per share)	$ 51.98		$ 51.98
Award Recipient Type Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 161,000	$ 133,000	$ 427,000	$ 381,000

RECENT ACCOUNTING PRONOUNCEME52

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Other Assets	$ 94,151	$ 91,858
Assets	1,718,443	1,661,904
Secured Debt	260,910	350,285
Unsecured Debt	553,035	528,210
Unsecured bank credit facilities	205,451	149,414
Liabilities	1,113,413	1,102,703
Liabilities and Equity	$ 1,718,443	1,661,904
Accounting Standards Update 2015-03 SImplifying the Presentation of Debt Issuance Costs [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Other Assets		91,858
Assets		1,661,904
Secured Debt		350,285
Unsecured Debt		528,210
Unsecured bank credit facilities		149,414
Liabilities		1,102,703
Liabilities and Equity		1,661,904
Accounting Standards Update 2015-03 SImplifying the Presentation of Debt Issuance Costs [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Other Assets		96,186
Assets		1,666,232
Secured Debt		351,401
Unsecured Debt		530,000
Unsecured bank credit facilities		150,836
Liabilities		1,107,031
Liabilities and Equity		$ 1,666,232

FAIR VALUE OF FINANCIAL INSTR53

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Financial Assets [Abstract]
Cash and Cash Equivalents, at Carrying Value		$ 33	$ 48	$ 342	$ 11
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and Cash Equivalents, at Carrying Value	[1]	33	48
Mortgage loans receivable	[1]	4,784	4,875
Interest rate swap assets	[1]	0	400
Financial Liabilities [Abstract]
Secured debt	[1],[2]	262,081	351,401
Unsecured debt	[1],[2]	555,000	530,000
Unsecured bank credit facilities - variable rate	[1],[2]	126,581	150,836
Unsecured bank credit facilities - fixed rate	[1],[2]	80,000	0
Interest rate swap liabilities	[1]	9,742	3,960
Fair Value [Member]
Financial Assets [Abstract]
Cash and Cash Equivalents, Fair Value Disclosure		33	48
Mortgage loans receivable		4,811	4,896
Interest rate swap assets		0	400
Financial Liabilities [Abstract]
Secured debt	[2]	276,505	366,491
Unsecured debt	[2]	542,134	509,326
Unsecured bank credit facilities - variable rate	[2]	126,568	150,670
Unsecured bank credit facilities - fixed rate	[2]	79,990	0
Interest rate swap liabilities		$ 9,742	$ 3,960
[1]	Carrying amounts shown in the table are included on the Consolidated Balance Sheets under the indicated captions, except as explained in the notes below.(2) Carrying amounts and fair values shown in the table exclude debt issuance costs (see Note 9 for additional information).The following methods and assumptions were used to estimate the fair value of each class of financial instruments:Cash and cash equivalents: The carrying amounts approximate fair value due to the short maturity of those instruments.Mortgage loans receivable (included in Other assets on the Consolidated Balance Sheets): The fair value is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities (Level 2 input).Interest rate swap assets (included in Other assets on the Consolidated Balance Sheets): The instruments are recorded at fair value based on models using inputs, such as interest rate yield curves, LIBOR swap curves and OIS curves, observable for substantially the full term of the contract (Level 2 input). See Note 13 for additional information on the Company's interest rate swaps.Secured debt: The fair value of the Company’s secured debt is estimated by discounting expected cash flows at the rates currently offered to the Company for debt of the same remaining maturities, as advised by the Company’s bankers (Level 2 input), excluding the effects of debt issuance costs.Unsecured debt: The fair value of the Company’s unsecured debt is estimated by discounting expected cash flows at the rates currently offered to the Company for debt of the same remaining maturities, as advised by the Company’s bankers (Level 2 input), excluding the effects of debt issuance costs.Unsecured bank credit facilities: The fair value of the Company’s unsecured bank credit facilities is estimated by discounting expected cash flows at current market rates (Level 2 input), excluding the effects of debt issuance costs.Interest rate swap liabilities (included in Other liabilities on the Consolidated Balance Sheets): The instruments are recorded at fair value based on models using inputs, such as interest rate yield curves, LIBOR swap curves and OIS curves, observable for substantially the full term of the contract (Level 2 input). See Note 13 for additional information on the Company's interest rate swaps.
[2]	Carrying amounts and fair values shown in the table exclude debt issuance costs (see Note 9 for additional information).