EastGroup Properties (EGP) 10-Q 28 Jul 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2021	Jul. 27, 2021
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Entity File Number	1-07094
Entity Registrant Name	EastGroup Properties Inc
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	13-2711135
Entity Address, Address Line One	400 W Parkway Place
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Ridgeland,
Entity Address, State or Province	MS
Entity Address, Postal Zip Code	39157
City Area Code	601
Local Phone Number	354-3555
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	EGP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		40,405,380
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0000049600
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS - U

CONSOLIDATED BALANCE SHEETS - Unaudited - USD ($)		Jun. 30, 2021	Dec. 31, 2020
ASSETS
Real estate properties		$ 3,336,219,000	$ 3,159,497,000
Development and value-add properties	[1]	320,005,000	359,588,000
Real estate, development and value-add properties		3,656,224,000	3,519,085,000
Less accumulated depreciation		(1,004,428,000)	(955,328,000)
Real estate, net		2,651,796,000	2,563,757,000
Unconsolidated investment		7,353,000	7,446,000
Cash		38,565,000	21,000
Other Assets		157,908,000	149,579,000
TOTAL ASSETS		2,855,622,000	2,720,803,000
LIABILITIES
Unsecured bank credit facilities, net of debt issuance costs		(2,437,000)	124,194,000
Unsecured debt, net of debt issuance costs		1,282,438,000	1,107,708,000
Secured debt, net of debt issuance costs		36,128,000	78,993,000
Accounts payable and accrued expenses		101,912,000	69,573,000
Other liabilities		64,250,000	69,817,000
Total Liabilities		1,482,291,000	1,450,285,000
STOCKHOLDERS' EQUITY
Common shares; $.0001 par value; 70,000,000 shares authorized; 40,396,180 shares issued and outstanding at June 30, 2021 and 39,676,828 at December 31, 2020		4,000	4,000
Excess shares; $.0001 par value; 30,000,000 shares authorized; no shares issued		0	0
Additional paid-in capital		1,714,661,000	1,610,053,000
Distributions in excess of earnings		(338,423,000)	(329,667,000)
Accumulated Other Comprehensive Income (loss)		(3,801,000)	(10,752,000)
Total Stockholders' Equity		1,372,441,000	1,269,638,000
Noncontrolling interest in joint ventures		890,000	880,000
Total Equity		1,373,331,000	1,270,518,000
TOTAL LIABILITIES AND EQUITY		$ 2,855,622,000	$ 2,720,803,000
Common shares, par value (in dollars per share)		$ 0.0001	$ 0.0001
Common shares, authorized		70,000,000	70,000,000
Common shares, issued		40,396,180	39,676,828
Common shares, outstanding		40,396,180	39,676,828
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
[1]	Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use.  Acquired properties meeting either of the following two conditions are considered value-add properties:  (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - Unaudited - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
REVENUES
Income from real estate operations	$ 99,562,000	$ 89,500,000	$ 197,479,000	$ 178,077,000
Other revenue	13,000	215,000	27,000	266,000
Revenues	99,575,000	89,715,000	197,506,000	178,343,000
EXPENSES
Expenses from real estate operations	28,057,000	25,351,000	55,877,000	51,180,000
Depreciation and amortization	31,349,000	28,570,000	61,662,000	56,462,000
General and administrative	4,486,000	4,025,000	8,522,000	7,306,000
Indirect leasing costs	134,000	166,000	464,000	274,000
Expenses	64,026,000	58,112,000	126,525,000	115,222,000
OTHER INCOME (EXPENSE)
Interest expense	(8,181,000)	(8,346,000)	(16,457,000)	(16,803,000)
Other	210,000	230,000	411,000	467,000
Net Income	27,578,000	23,487,000	54,935,000	46,785,000
Net income attributable to noncontrolling interest in joint ventures	(20,000)	(3,000)	(38,000)	(4,000)
NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS	27,558,000	23,484,000	54,897,000	46,781,000
Other comprehensive income (loss) - interest rate swaps	(1,263,000)	(1,824,000)	6,951,000	(17,614,000)
TOTAL COMPREHENSIVE INCOME	$ 26,295,000	$ 21,660,000	$ 61,848,000	$ 29,167,000
BASIC PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net income attributable to common stockholders	$ 0.69	$ 0.60	$ 1.38	$ 1.20
Weighted average shares outstanding	40,068	39,007	39,871	38,945
DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net income attributable to common stockholders	$ 0.69	$ 0.60	$ 1.37	$ 1.20
Weighted average shares outstanding	40,165	39,077	39,965	39,019

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - Unaudited - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Distributions In Excess Of Earnings	Accumulated Other Comprehensive Income / (Loss)	Noncontrolling Interest in Joint Ventures
BALANCE at Dec. 31, 2019	$ 1,202,329	$ 4	$ 1,514,055	$ (316,302)	$ 2,807	$ 1,765
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	23,298	0	0	23,297	0	1
Net unrealized change in fair value of interest rate swaps	(15,790)	0	0	0	(15,790)	0
Common dividends declared	(29,366)	0	0	(29,366)	0	0
Stock-based compensation, net of forfeitures	1,781	0	1,781	0	0	0
Issuance of common stock, common stock offering, net of expenses	14,734	0	14,734	0	0	0
Withheld shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock	(4,589)	0	(4,589)	0	0	0
Distributions to noncontrolling interest	(34)	0	0	0	0	(34)
BALANCE at Mar. 31, 2020	$ 1,192,363	4	1,525,981	(322,371)	(12,983)	1,732
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common dividends declared - per share (in dollars per share)	$ 0.75
Issuance of shares of common stock, common stock offering, net of expenses	105,837
Withheld shares of common stock to satisfy tax withholding obligations in connection with vesting of restricted stock shares	33,963
BALANCE at Dec. 31, 2019	$ 1,202,329	4	1,514,055	(316,302)	2,807	1,765
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	46,785
Net unrealized change in fair value of interest rate swaps	(17,614)
BALANCE at Jun. 30, 2020	1,216,797	4	1,558,322	(328,438)	(14,807)	1,716
BALANCE at Mar. 31, 2020	1,192,363	4	1,525,981	(322,371)	(12,983)	1,732
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	23,487	0	0	23,484	0	3
Net unrealized change in fair value of interest rate swaps	(1,824)	0	0	0	(1,824)	0
Common dividends declared	(29,551)	0	0	(29,551)	0	0
Stock-based compensation, net of forfeitures	2,694	0	2,694	0	0	0
Issuance of common stock, common stock offering, net of expenses	29,647	0	29,647	0	0	0
Distributions to noncontrolling interest	(19)	0	0	0	0	(19)
BALANCE at Jun. 30, 2020	$ 1,216,797	4	1,558,322	(328,438)	(14,807)	1,716
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common dividends declared - per share (in dollars per share)	$ 0.75
Issuance of shares of common stock, common stock offering, net of expenses	243,621
BALANCE at Dec. 31, 2020	$ 1,270,518	4	1,610,053	(329,667)	(10,752)	880
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	27,357	0	0	27,339	0	18
Net unrealized change in fair value of interest rate swaps	8,214	0	0	0	8,214	0
Common dividends declared	(31,672)	0	0	(31,672)	0	0
Stock-based compensation, net of forfeitures	2,147	0	2,147	0	0	0
Issuance of common stock, common stock offering, net of expenses	44,485	0	44,485	0	0	0
Withheld shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock	(4,240)	0	(4,240)	0	0	0
Distributions to noncontrolling interest	(11)	0	0	0	0	(11)
BALANCE at Mar. 31, 2021	$ 1,316,798	4	1,652,445	(334,000)	(2,538)	887
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common dividends declared - per share (in dollars per share)	$ 0.79
Issuance of shares of common stock, common stock offering, net of expenses	317,538
Withheld shares of common stock to satisfy tax withholding obligations in connection with vesting of restricted stock shares	30,252
BALANCE at Dec. 31, 2020	$ 1,270,518	4	1,610,053	(329,667)	(10,752)	880
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	54,935
Net unrealized change in fair value of interest rate swaps	6,951
BALANCE at Jun. 30, 2021	1,373,331	4	1,714,661	(338,423)	(3,801)	890
BALANCE at Mar. 31, 2021	1,316,798	4	1,652,445	(334,000)	(2,538)	887
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	27,578	0	0	27,558	0	20
Net unrealized change in fair value of interest rate swaps	(1,263)	0	0	0	(1,263)	0
Common dividends declared	(31,981)	0	0	(31,981)	0	0
Stock-based compensation, net of forfeitures	2,893	0	2,893	0	0	0
Issuance of common stock, common stock offering, net of expenses	59,318	0	59,318	0	0	0
Distributions to noncontrolling interest	(12)	0	5	0	0	(17)
BALANCE at Jun. 30, 2021	$ 1,373,331	$ 4	$ 1,714,661	$ (338,423)	$ (3,801)	$ 890
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common dividends declared - per share (in dollars per share)	$ 0.79
Issuance of shares of common stock, common stock offering, net of expenses	370,177

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
OPERATING ACTIVITIES
Net Income	$ 54,935	$ 46,785
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	61,662	56,462
Stock-based compensation expense	4,011	3,421
Gain on casualties and involuntary conversion on real estate assets	0	(161)
Changes in operating assets and liabilities:
Accrued income and other assets	(3,430)	570
Accounts payable, accrued expenses and prepaid rent	19,783	8,460
Other	714	1,145
NET CASH PROVIDED BY OPERATING ACTIVITIES	137,675	116,682
INVESTING ACTIVITIES
Development and value-add properties	(111,378)	(104,863)
Purchases of real estate	(9,177)	(6,231)
Real estate improvements	(18,094)	(18,167)
Leasing commissions	(16,813)	(8,075)
Proceeds from casualties and involuntary conversion on real estate assets	0	242
Repayments on mortgage loans receivable	0	14
Changes in accrued development costs	13,126	(181)
Changes in other assets and other liabilities	526	(9,400)
NET CASH USED IN INVESTING ACTIVITIES	(141,810)	(146,661)
FINANCING ACTIVITIES
Proceeds from unsecured bank credit facilities	195,137	318,115
Repayments on unsecured bank credit facilities	(320,137)	(363,787)
Proceeds from Unsecured Debt	175,000	100,000
Repayments on secured debt	(42,924)	(4,465)
Debt issuance costs	(2,475)	(584)
Distributions paid to stockholders (not including dividends accrued)	(63,403)	(59,157)
Proceeds from common stock offerings	105,745	44,381
Other	(4,264)	(4,644)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	42,679	29,859
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	38,544	(120)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	21	224
CASH AND CASH EQUIVALENTS AT END OF PERIOD	38,565	104
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest, net of amounts capitalized of $4,394 and $5,184 for 2021 and 2020, respectively	15,760	16,161
Cash paid for operating lease liabilities	751	719
Interest capitalized	4,394	5,184
NON-CASH OPERATING ACTIVITY
Operating lease liabilities arising from obtaining right of use assets	$ 348	$ 495

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2021
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 Company’s annual report on Form 10-K for the year ended December 31, 2020 and the notes thereto. Certain reclassifications have been made in the 2020 consolidated financial statements to conform to the 2021 presentation.

PRINCIPLES OF CONSOLIDATION

PRINCIPLES OF CONSOLIDATION	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of EastGroup, its wholly owned subsidiaries and its investment in any joint ventures in which the Company has a controlling interest. As of June 30, 2021 and December 31, 2020, EastGroup held a controlling interest in two joint venture arrangements. In 2019, the Company acquired 6.5 acres of land in San Diego, known by the Company as the Miramar land. Also in 2019, the Company acquired 41.6 acres of land in San Diego, known by the Company as the Otay Mesa land. During the three months ended June 30, 2021, EastGroup began construction of a 519,000 square foot building on the Otay Mesa land, known by the Company as Speed Distribution Center. As of both June 30, 2021 and December 31, 2020, EastGroup had a 95% controlling interest in the Miramar land and a 99% controlling interest in Speed Distribution Center. The Company records 100% of the assets, liabilities, revenues and expenses of the buildings and land held in joint ventures with the 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	6 Months Ended
	Jun. 30, 2021
Use of estimates [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, liabilities, 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.

LEASE REVENUE

LEASE REVENUE	6 Months Ended
	Jun. 30, 2021
Lease Revenue [Abstract]
Operating Lease, Lease Income [Text Block]	LEASE REVENUE The Company’s primary revenue is rental income from business distribution space. The table below presents the components of Income from real estate operations for the three and six months ended June 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 (In thousands) Lease income — operating leases $ 74,358 66,793 147,740 132,756 Variable lease income (1) 25,204 22,707 49,739 45,321 Income from real estate operations $ 99,562 89,500 197,479 178,077 (1) Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance.

REAL ESTATE PROPERTIES

REAL ESTATE PROPERTIES	6 Months Ended
	Jun. 30, 2021
Real Estate Investment Property, Net [Abstract]
Real Estate Properties	REAL ESTATE PROPERTIES EastGroup has one reportable segment – industrial properties. These properties are primarily located in major Sunbelt regions of the United States. The Company’s properties have similar economic characteristics and as a result, have been 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. During the six month periods ended June 30, 2021 and 2020, the Company did not identify any impairment charges which should be recorded. Depreciation of buildings and other improvements is computed using the straight-line method over estimated useful lives of generally 40 years for buildings and 3 to 15 years for improvements. 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 $25,858,000 and $51,005,000 for the three and six months ended June 30, 2021, respectively, and $23,813,000 and $46,902,000 for the same periods in 2020. The Company’s Real estate properties and Development and value-add properties at June 30, 2021 and December 31, 2020 were as follows: June 30, December 31, (In thousands) Real estate properties: Land $ 526,326 502,739 Buildings and building improvements 2,247,617 2,120,731 Tenant and other improvements 551,637 524,954 Right of use assets — Ground leases (operating) (1) 10,639 11,073 Development and value-add properties (2) 320,005 359,588 3,656,224 3,519,085 Less accumulated depreciation (1,004,428) (955,328) $ 2,651,796 2,563,757 (1) EastGroup applies the principles of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 842, Leases, and its related Accounting Standards Updates (“ASUs”) to account for its ground leases, which are classified as operating leases. The related operating lease liabilities for ground leases are included in Other liabilities on the Consolidated Balance Sheets. (2) Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.

DEVELOPMENT AND VALUE-ADD PROPE

DEVELOPMENT AND VALUE-ADD PROPERTIES	6 Months Ended
	Jun. 30, 2021
DEVELOPMENT [Abstract]
Development	DEVELOPMENT AND VALUE-ADD PROPERTIES For properties under development and value-add properties acquired in the development stage, costs associated with development (i.e., land, construction costs, interest expense, property taxes and other 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 projects 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. The Company transfers properties from the development and value-add program to Real estate properties as follows: (i) for development properties, at the earlier of 90% occupancy or one year after completion of the shell construction, and (ii) for value-add properties, at the earlier of 90% occupancy or one year after acquisition. Upon the earlier of 90% occupancy or one year after completion of the shell construction, capitalization of development costs, including interest expense, property taxes and internal personnel costs, ceases and depreciation commences on the entire property (excluding the land).

REAL ESTATE PROPERTY ACQUISITIO

REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES	6 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Real Estate Property Acquisitions and Acquired Intangibles	REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES Upon acquisition of real estate properties, EastGroup applies the principles of FASB ASC 805, Business Combinations. The FASB Codification provides a framework for determining whether transactions should be accounted for as acquisitions of assets or businesses. Under the guidance, companies are required to utilize an initial screening test to determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set is not a business. EastGroup determined that its real estate property acquisitions in 2020 and the first six months of 2021 are considered to be acquisitions of groups of similar identifiable assets; therefore, the acquisitions are not considered to be acquisitions of a business. As a result, the Company capitalized acquisition costs related to its 2020 and 2021 acquisitions. The FASB 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. 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. Land is valued using comparable land sales specific to the applicable market, provided by a third party. 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 current market rents 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 $1,307,000 and $2,738,000 for the three and six months ended June 30, 2021, respectively, and $1,372,000 and $2,706,000 for the same periods in 2020. Amortization of above and below market leases increased rental income by $245,000 and $474,000 for the three and six months ended June 30, 2021, respectively, and $372,000 and $746,000 for the same periods in 2020. During the six months ended June 30, 2021, EastGroup acquired the following properties: REAL ESTATE PROPERTIES ACQUIRED IN 2021 Location Size Date Cost (Square feet) (In thousands) Operating properties acquired (1) Southpark Distribution Center 2 Phoenix, AZ 79,000 06/10/2021 $ 9,177 Value-add properties acquired (2) Access Point 1 Greenville, SC 156,000 01/15/2021 10,501 Northpoint 200 Atlanta, GA 79,000 01/21/2021 6,516 Access Point 2 Greenville, SC 159,000 05/19/2021 10,743 Cherokee 75 Business Center 2 Atlanta, GA 105,000 06/17/2021 8,837 Total value-add property acquisitions 499,000 36,597 Total acquired assets 578,000 $ 45,774 (1) Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets. (2) Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property. The following table summarizes the allocation of the consideration paid for the acquired assets and assumed liabilities in connection with the acquisitions identified in the table above which were acquired during the six months ended June 30, 2021. ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2021 Cost (In thousands) Land $ 6,131 Buildings 38,655 Tenant improvements 108 Total real estate properties acquired 44,894 In-place lease intangibles (1) 880 Above market leases (1) — Below market leases (2) — Total assets acquired, net of liabilities assumed $ 45,774 (1) In-place lease intangibles and above market leases are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition. (2) Below market leases are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition. The leases in the properties acquired during the six months ended June 30, 2021 had a weighted average remaining lease term at acquisition of approximately 2.2 years over which the in-place lease intangibles and above or below market leases are amortized. During 2020, EastGroup acquired the following properties: REAL ESTATE PROPERTIES ACQUIRED IN 2020 Location Size Date Cost (Square feet) (In thousands) Operating properties acquired (1) Wells Point One Austin, TX 50,000 02/28/2020 $ 6,231 Cherokee 75 Business Center 1 Atlanta, GA 85,000 12/15/2020 8,323 The Rock Dallas, TX 212,000 12/17/2020 34,102 Total operating property acquisitions 347,000 48,656 Value-add properties acquired (2) Rancho Distribution Center Los Angeles, CA 162,000 10/15/2020 27,862 Total acquired assets 509,000 $ 76,518 (1) Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets. (2) Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property. The following table summarizes the allocation of the consideration paid for the acquired assets and assumed liabilities in connection with the acquisitions identified in the table above which were acquired during the year ended December 31, 2020. ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2020 Cost (In thousands) Land $ 23,565 Buildings 42,024 Tenant improvements 7,971 Total real estate properties acquired 73,560 In-place lease intangibles (1) 3,257 Above market leases (1) 104 Below market leases (2) (403) Total assets acquired, net of liabilities assumed $ 76,518 (1) In-place lease intangibles and above market leases are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition. (2) Below market leases are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition. The leases in the properties acquired during the year ended December 31, 2020 had a weighted average remaining lease term at acquisition of approximately 3.9 years over which the in-place lease intangibles and above or below market leases are amortized. The Company periodically reviews the recoverability of goodwill (at least annually) and the recoverability of other intangibles (on a quarterly basis) for possible impairment. No impairment of goodwill or other intangibles existed during the three and six month periods ended June 30, 2021 and 2020.

REAL ESTATE SOLD AND HELD FOR S

REAL ESTATE SOLD AND HELD FOR SALE DISCONTINUED OPERATIONS	6 Months Ended
	Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Real Estate Sold and Held For Sale and Discontinued Operations	REAL ESTATE SOLD AND HELD FOR SALE 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. The Company did not classify any properties as held for sale as of June 30, 2021 and December 31, 2020. In accordance with FASB 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.

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Jun. 30, 2021
Other Assets [Abstract]
Other Assets	OTHER ASSETS A summary of the Company’s Other assets follows: June 30, December 31, (In thousands) Leasing costs (principally commissions) $ 106,954 95,914 Accumulated amortization of leasing costs (39,065) (38,371) Leasing costs (principally commissions), net of accumulated amortization 67,889 57,543 Acquired in-place lease intangibles 25,862 28,107 Accumulated amortization of acquired in-place lease intangibles (13,167) (13,554) Acquired in-place lease intangibles, net of accumulated amortization 12,695 14,553 Acquired above market lease intangibles 1,825 1,825 Accumulated amortization of acquired above market lease intangibles (1,352) (1,231) Acquired above market lease intangibles, net of accumulated amortization 473 594 Straight-line rents receivable 47,229 43,079 Accounts receivable 8,099 6,256 Interest rate swap assets 141 — Right of use assets — Office leases (operating) 2,233 2,131 Receivable for common stock offerings — 1,942 Goodwill 990 990 Prepaid expenses and other assets 18,159 22,491 Total Other assets $ 157,908 149,579

DEBT

DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt Disclosure	DEBT The Company’s debt is detailed below. June 30, December 31, (In thousands) Unsecured bank credit facilities - variable rate, carrying amount $ — 125,000 Unamortized debt issuance costs (2,437) (806) Unsecured bank credit facilities, net of debt issuance costs (2,437) 124,194 Unsecured debt - fixed rate, carrying amount (1) 1,285,000 1,110,000 Unamortized debt issuance costs (2,562) (2,292) Unsecured debt, net of debt issuance costs 1,282,438 1,107,708 Secured debt - fixed rate, carrying amount (1) 36,162 79,096 Unamortized debt issuance costs (34) (103) Secured debt, net of debt issuance costs 36,128 78,993 Total debt, net of debt issuance costs $ 1,316,129 1,310,895 (1) These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps. Until June 29, 2021, EastGroup had $350 million and $45 million unsecured bank credit facilities with margins over LIBOR of 100 basis points, facility fees of 20 basis points and maturity dates of July 30, 2022. The Company amended and restated these credit facilities on June 29, 2021, expanding the capacity to $425 million and $50 million, as detailed below. The $425 million unsecured bank credit facility is with a group of nine banks and has a maturity date of July 30, 2025. The credit facility contains options for two six-month extensions (at the Company's election) and a $325 million accordion (with agreement by all parties). The interest rate on each tranche is usually reset on a monthly basis and as of June 30, 2021, was LIBOR plus 77.5 basis points, which equated to 0.876%, with an annual facility fee of 15 basis points. The Company has a standby letter of credit of $674,000 pledged on this facility. The Company's $50 million unsecured bank credit facility has a maturity date of July 30, 2025, or such later date as designated by the bank; the Company also has two six-month extensions available if the extension options in the $425 million facility are exercised. The interest rate is reset on a daily basis and as of June 30, 2021, was LIBOR plus 77.5 basis points, which equated to 0.876%, with an annual facility fee of 15 basis points. For both facilities, the margin and facility fee are subject to changes in the Company's credit ratings. Although the Company’s current credit rating is Baa2, given the strength of the Company’s key credit metrics, initial pricing for the credit facilities is based on the BBB+/Baa1 credit ratings level. This favorable pricing level will be retained provided that the Company’s consolidated leverage ratio, as defined in the applicable agreements, remains less than 32.5%. The facilities also include a sustainability-linked pricing component pursuant to which, if the Company meets certain sustainability performance targets, the applicable interest margin will be reduced by one basis point. The Company had no amounts outstanding on its unsecured bank credit facilities as of June 30, 2021. In March 2021, the Company closed a $50 million senior unsecured term loan with a four In March 2021, EastGroup repaid (with no penalty) a mortgage loan with a balance of $40.8 million, an interest rate of 4.75% and an original maturity date of June 5, 2021. Also in March 2021, the Company and a group of lenders agreed to terms on the private placement of $125 million of senior unsecured notes with a fixed interest rate of 2.74% and a 10-year term. The notes dated April 8, 2021, were issued and sold on June 10, 2021, and will require interest-only payments. The notes will not be and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. Scheduled principal payments on long-term debt, including Unsecured debt, net of debt issuance costs and Secured debt, net of debt issuance costs (not including Unsecured bank credit facilities, net of debt issuance costs ), as of June 30, 2021, are as follows: Years Ending December 31, (In thousands) 2021 - Remainder of year $ 41,350 2022 107,770 2023 115,119 2024 120,122 2025 145,128 2026 and beyond 791,673 Total $ 1,321,162

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2021
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: June 30, December 31, (In thousands) Property taxes payable $ 30,671 3,524 Development costs payable 19,553 6,427 Real estate improvements and capitalized leasing costs payable 6,398 5,692 Interest payable 6,601 6,537 Dividends payable 32,927 32,677 Book overdraft (1) — 5,176 Other payables and accrued expenses 5,762 9,540 Total Accounts payable and accrued expenses $ 101,912 69,573 (1) Represents checks written before the end of the period which have not cleared the bank; therefore, the bank has not yet advanced cash to the Company. When the checks clear the bank, they will be funded through the Company’s working cash line of credit, which is included in the Company’s Unsecured bank credit facilities.

OTHER LIABILITIES

OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Other Liabilities	OTHER LIABILITIES A summary of the Company’s Other liabilities follows: June 30, December 31, (In thousands) Security deposits $ 25,357 22,140 Prepaid rent and other deferred income 13,600 14,694 Operating lease liabilities — Ground leases 10,803 11,199 Operating lease liabilities — Office leases 2,282 2,167 Acquired below-market lease intangibles 8,929 9,019 Accumulated amortization of below-market lease intangibles (6,673) (6,168) Acquired below-market lease intangibles, net of accumulated amortization 2,256 2,851 Interest rate swap liabilities 3,942 10,752 Prepaid tenant improvement reimbursements 360 364 Other liabilities 5,650 5,650 Total Other liabilities $ 64,250 69,817

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	6 Months Ended
	Jun. 30, 2021
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 14 for information regarding the Company’s interest rate swaps. Three Months Ended Six Months Ended 2021 2020 2021 2020 (In thousands) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS): Balance at beginning of period $ (2,538) (12,983) (10,752) 2,807 Other comprehensive income (loss) - interest rate swaps (1,263) (1,824) 6,951 (17,614) Balance at end of period $ (3,801) (14,807) (3,801) (14,807)

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021, the Company had six 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 changes in the fair value of derivatives designated and qualifying as cash flow hedges are recorded in Other comprehensive income (loss) and are subsequently reclassified into earnings through Interest expense as interest payments are made or received on the Company’s variable-rate debt in the period that the hedged forecasted transaction affects earnings. The Company estimates that an additional $3,636,000 will be reclassified from Other comprehensive income (loss) as an increase to Interest expense over 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. The Company calculates its derivative valuations using mid-market prices. On March 5, 2021, the Financial Conduct Authority (“FCA”) that regulates LIBOR announced that USD-LIBOR will no longer be published after June 30, 2023. The Alternative Reference Rates Committee (“ARRC”) has proposed that the Secured Overnight Financing Rate (“SOFR”) is the rate that represents best practice as the alternative to USD-LIBOR for use in derivatives and other financial contracts that are currently indexed to USD-LIBOR. ARRC has proposed a paced market transition plan to SOFR from USD-LIBOR and organizations are currently working on industry wide and company specific transition plans as it relates to derivatives and cash markets exposed to USD-LIBOR. The Company anticipates that LIBOR will continue to be available substantially in its current form at least until June 30, 2023. Any changes adopted by the FCA or other governing bodies in the method used for determining LIBOR may result in a sudden or prolonged increase or decrease in reported LIBOR. If that were to occur, our interest payments could change. In addition, uncertainty about the extent and manner of future changes may result in interest rates and/or payments that are higher or lower than if LIBOR were to remain available in its current form. The Company has material contracts that are indexed to USD-LIBOR and is monitoring this activity and evaluating the related risks. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. As of June 30, 2021 and December 31, 2020, 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 June 30, 2021 Notional Amount as of December 31, 2020 (In thousands) Interest Rate Swap $75,000 $75,000 Interest Rate Swap $65,000 $65,000 Interest Rate Swap $40,000 $40,000 Interest Rate Swap $100,000 $100,000 Interest Rate Swap $100,000 $100,000 Interest Rate Swap $50,000 — The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of June 30, 2021 and December 31, 2020. See Note 17 for additional information on the fair value of the Company’s interest rate swaps. Derivatives As of June 30, 2021 Derivatives As of December 31, 2020 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as cash flow hedges: Interest rate swap assets Other assets $ 141 Other assets $ — Interest rate swap liabilities Other liabilities 3,942 Other liabilities 10,752 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 six months ended June 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 (In thousands) DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS Interest Rate Swaps: Amount of income (loss) recognized in Other comprehensive income (loss) on derivatives $ (2,395) (2,869) 4,768 (18,572) Amount of (income) loss reclassified from Accumulated other comprehensive income (loss) into Interest expense 1,132 1,045 2,183 958 See Note 13 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. If the Company breached any of these provisions it would be required to settle its obligations under the agreements at their termination value of $3,942,000 as of June 30, 2021.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2021
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 Six Months Ended June 30, June 30, 2021 2020 2021 2020 (In thousands) BASIC EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 27,558 23,484 54,897 46,781 Denominator – weighted average shares outstanding 40,068 39,007 39,871 38,945 DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 27,558 23,484 54,897 46,781 Denominator: Weighted average shares outstanding 40,068 39,007 39,871 38,945 Unvested restricted stock 97 70 94 74 Total Shares 40,165 39,077 39,965 39,019

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION EastGroup applies the provisions of ASC 718, Compensation - Stock Compensation, to account for its stock-based compensation awards. 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. The Compensation Committee of the Company’s Board of Directors (the “Committee”) approves long-term and annual equity compensation awards for the Company’s executive officers. The long-term compensation awards include components based on the Company’s total shareholder return over the upcoming three-year period and the employee’s continued service as of the vesting dates. The total shareholder return component is subject to bright-line tests that compare the Company’s total shareholder return to the Nareit Equity Index and to the member companies of the Nareit industrial index. The Company begins recognizing expense for these awards based on the grant date fair value of the awards which is determined using a simulation pricing model developed to specifically accommodate the unique features of the award. These market based awards are expensed on a straight-line basis over the requisite service period (75% vests at the end of the three-year performance period and 25% vests the following year). The long term awards subject only to continuing employment are expensed on a straight-line basis over the requisite service period. The annual equity compensation awards include components based on certain annual Company performance measures and individual annual performance goals over the upcoming year. The certain Company performance measures for 2021 are: (i) FFO per share, (ii) cash same property net operating income change, (iii) debt-to-EBITDAre ratio, and (iv) fixed charge coverage. The Company begins recognizing expense for its estimate of the shares that could be earned pursuant to these awards on the grant date; the expense is adjusted to estimated performance levels during the performance period and to actual upon the determination of the awards. The shares are expensed using the graded vesting attribution method which recognizes each separate vesting portion of the award as a separate award on a straight-line basis over the requisite service period. Any shares issued pursuant to the individual annual performance goals are determined by the Committee in its discretion following the performance period. The Company begins recognizing the expense for the shares on the grant date and will expense on a straight-line basis over the remaining service period. Equity compensation is also awarded to the Company’s non-executive officers and directors, which are subject to service only conditions and expensed on a straight-line basis over the required service period. The Committee has adopted an Equity Award Retirement Policy (the “retirement policy”) which allows for accelerated vesting of unvested shares for retirement-eligible employees (defined as employees who meet certain age and years of service requirements). In order to qualify for accelerated vesting upon retirement, the eligible employees must provide required notification under the retirement policy and must retire from the Company. The Company has adjusted its stock-based compensation expense to accelerate the recognition of expense for retirement-eligible employees. Stock-based compensation cost for employees was $2,189,000 and $4,333,000 for the three and six months ended June 30, 2021, of which $479,000 and $1,029,000 were capitalized as part of the Company’s development costs. For the three and six months ended June 30, 2020, stock-based compensation cost for employees was $1,893,000 and $3,672,000, of which $499,000 and $1,054,000 were capitalized as part of the Company’s development costs. Stock-based compensation expense for directors was $704,000 and $707,000 for the three and six months ended June 30, 2021, respectively, and $801,000 and $803,000 for the same periods in 2020. 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 six months ended June 30, 2021, the Company withheld 30,252 shares to satisfy the tax obligations for those participants who elected this option as permitted under the applicable equity plan. As of the grant dates, the fair value of shares that were granted during the six months ended June 30, 2021 was $6,133,000. As of the vesting dates, the aggregate fair value of shares that vested during the six months ended June 30, 2021 was $10,322,000. Three Months Ended Six Months Ended Award Activity: June 30, 2021 June 30, 2021 Shares Weighted Average Grant Date Fair Value Weighted Average Grant Date Fair Value Unvested at beginning of period 97,134 $ 111.44 113,403 $ 100.89 Granted (1) (2) — — 57,423 106.80 Forfeited — — — — Vested — — (73,692) 91.59 Unvested at end of period 97,134 $ 111.44 97,134 $ 111.44 (1) Includes shares granted in prior years for which performance conditions have been satisfied and the number of shares have been determined.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS ASC 820, Fair Value Measurement, 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 June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Carrying Amount (1) Fair Value Carrying Amount (1) Fair Value (In thousands) Financial Assets: Cash and cash equivalents $ 38,565 38,565 21 21 Interest rate swap assets 141 141 — — Financial Liabilities: Unsecured bank credit facilities - variable rate (2) — — 125,000 124,820 Unsecured debt (2) 1,285,000 1,326,729 1,110,000 1,141,803 Secured debt (2) 36,162 36,675 79,096 80,435 Interest rate swap liabilities 3,942 3,942 10,752 10,752 (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 10 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. 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 14 for additional information on the Company’s interest rate swaps. 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. 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. 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. 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 14 for additional information on the Company’s interest rate swaps.

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	6 Months Ended
	Jun. 30, 2021
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 due to the current coronavirus (“COVID-19”) pandemic, as discussed below, or other general economic conditions, it may affect the Company’s ability to make distributions to its shareholders, service debt, or meet other financial obligations. On March 11, 2020, the World Health Organization characterized COVID-19 as a pandemic. The United States, which is where EastGroup’s properties are located, has experienced widespread infection. Although COVID-19 vaccines are actively being administered, and state and local governments, including in those jurisdictions where EastGroup’s properties are located, have in many cases rescinded the actions (such as “stay-at-home” directives) intended to mitigate the impact of the pandemic, the impact of the rapidly changing market and economic conditions created by the pandemic remains uncertain. EastGroup remains unable to predict the ultimate impact that COVID-19 will have on its business, financial condition, results of operations and cash flows. EastGroup’s ability to lease its properties and collect rental revenues and expense reimbursements is dependent upon national, regional and local economic conditions. The potential inability to renew leases, lease vacant space or re-lease space as leases expire on favorable terms, or at all, could cause a decline in the Company’s receipt of rental payments. The Company has been in communication with a portion of its customer base regarding rent relief requests and has executed rent deferral agreements totaling $1.7 million, all of which were applicable to periods through December 31, 2020. The majority of these deferral agreements ($1.4 million of the $1.7 million) qualify under modified COVID-19-related guidance provided by the FASB for rental income to be recognized in the periods in which they were charged under the original terms of the leases. When requests were made, they were handled on a case-by-case basis, and the Company’s responses were largely dependent on its understanding of the financial strength of the customer, the operational and earnings impacts being experienced by the customer, and the customer’s ability or inability to obtain capital through debt or equity issuances, government assistance programs or by other means. Some of the Company’s customers have experienced and may in the future continue to experience a deterioration in their financial position, results of operations and cash flows; as a result, they may not be able to pay their rent and expense reimbursements, which could adversely affect EastGroup’s financial condition, results of operations and cash flows. Federal, state and local government restrictions associated with the mitigation efforts to prevent the spread of COVID-19 could prevent EastGroup’s customers from accessing their leased space and operating their businesses; such restrictions could also impact the Company’s ability to operate its business, which may cause the business and operating results to decline or impact the Company’s ability to comply with regulatory obligations leading to reputational harm and regulatory issues or fines. Such restrictions could also inhibit the Company’s ability to lease vacant space in its operating portfolio and its development and value-add program. In addition, government restrictions could prevent construction of tenant improvements and development projects, which could delay construction completion and lease commencement dates. In each case, EastGroup may experience an adverse impact on its financial condition and results of operations.

LEGAL MATTERS (Notes)

LEGAL MATTERS (Notes)	6 Months Ended
	Jun. 30, 2021
LEGAL MATTERS [Abstract]
Legal Matters and Contingencies [Text Block]	LEGAL MATTERSThe Company is not presently involved in any material litigation nor, to its knowledge, is any material litigation threatened against the Company or its properties, other than routine litigation arising in the ordinary course of business.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Standards Update and Change in Accounting Principle	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 ASU applies to the Company. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The consolidated financial statements include the accounts of EastGroup, its wholly owned subsidiaries and its investment in any joint ventures in which the Company has a controlling interest. As of June 30, 2021 and December 31, 2020, EastGroup held a controlling interest in two joint venture arrangements. In 2019, the Company acquired 6.5 acres of land in San Diego, known by the Company as the Miramar land. Also in 2019, the Company acquired 41.6 acres of land in San Diego, known by the Company as the Otay Mesa land. During the three months ended June 30, 2021, EastGroup began construction of a 519,000 square foot building on the Otay Mesa land, known by the Company as Speed Distribution Center. As of both June 30, 2021 and December 31, 2020, EastGroup had a 95% controlling interest in the Miramar land and a 99% controlling interest in Speed Distribution Center. The Company records 100% of the assets, liabilities, revenues and expenses of the buildings and land held in joint ventures with the 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.
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. The Company did not classify any properties as held for sale as of June 30, 2021 and December 31, 2020. In accordance with FASB 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,
Real Estate Property Acquisitions and Acquired Intangibles [Policy Text Block]	Upon acquisition of real estate properties, EastGroup applies the principles of FASB ASC 805, Business Combinations. The FASB Codification provides a framework for determining whether transactions should be accounted for as acquisitions of assets or businesses. Under the guidance, companies are required to utilize an initial screening test to determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set is not a business. EastGroup determined that its real estate property acquisitions in 2020 and the first six months of 2021 are considered to be acquisitions of groups of similar identifiable assets; therefore, the acquisitions are not considered to be acquisitions of a business. As a result, the Company capitalized acquisition costs related to its 2020 and 2021 acquisitions. 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 current market rents 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
Earnings Per Share, Policy [Policy Text Block]	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.
Share-based Payment Arrangement [Policy Text Block]	EastGroup applies the provisions of ASC 718, Compensation - Stock Compensation, to account for its stock-based compensation awards. 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. The Compensation Committee of the Company’s Board of Directors (the “Committee”) approves long-term and annual equity compensation awards for the Company’s executive officers. The long-term compensation awards include components based on the Company’s total shareholder return over the upcoming three-year period and the employee’s continued service as of the vesting dates. The total shareholder return component is subject to bright-line tests that compare the Company’s total shareholder return to the Nareit Equity Index and to the member companies of the Nareit industrial index. The Company begins recognizing expense for these awards based on the grant date fair value of the awards which is determined using a simulation pricing model developed to specifically accommodate the unique features of the award. These market based awards are expensed on a straight-line basis over the requisite service period (75% vests at the end of the three-year performance period and 25% vests the following year). The long term awards subject only to continuing employment are expensed on a straight-line basis over the requisite service period. The annual equity compensation awards include components based on certain annual Company performance measures and individual annual performance goals over the upcoming year. The certain Company performance measures for 2021 are: (i) FFO per share, (ii) cash same property net operating income change, (iii) debt-to-EBITDAre ratio, and (iv) fixed charge coverage. The Company begins recognizing expense for its estimate of the shares that could be earned pursuant to these awards on the grant date; the expense is adjusted to estimated performance levels during the performance period and to actual upon the determination of the awards. The shares are expensed using the graded vesting attribution method which recognizes each separate vesting portion of the award as a separate award on a straight-line basis over the requisite service period. Any shares issued pursuant to the individual annual performance goals are determined by the Committee in its discretion following the performance period. The Company begins recognizing the expense for the shares on the grant date and will expense on a straight-line basis over the remaining service period. Equity compensation is also awarded to the Company’s non-executive officers and directors, which are subject to service only conditions and expensed on a straight-line basis over the required service period. The Committee has adopted an Equity Award Retirement Policy (the “retirement policy”) which allows for accelerated vesting of unvested shares for retirement-eligible employees (defined as employees who meet certain age and years of service requirements). In order to qualify for accelerated vesting upon retirement, the eligible employees must provide required notification under the retirement policy and must retire from the Company. The Company has adjusted its stock-based compensation expense to accelerate the recognition of expense for retirement-eligible employees.
Fair Value Measurement, Policy [Policy Text Block]	ASC 820, Fair Value Measurement, 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

USE OF ESTIMATES (Policies)

USE OF ESTIMATES (Policies)	6 Months Ended
	Jun. 30, 2021
Use of estimates [Abstract]
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, liabilities, 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.

LEASE REVENUE (Tables)

LEASE REVENUE (Tables)	6 Months Ended
	Jun. 30, 2021
Lease Revenue [Abstract]
Operating Lease, Lease Income [Table Text Block]	The table below presents the components of Income from real estate operations for the three and six months ended June 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 (In thousands) Lease income — operating leases $ 74,358 66,793 147,740 132,756 Variable lease income (1) 25,204 22,707 49,739 45,321 Income from real estate operations $ 99,562 89,500 197,479 178,077 (1) Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance.

REAL ESTATE PROPERTIES (Tables)

REAL ESTATE PROPERTIES (Tables)	6 Months Ended
	Jun. 30, 2021
Real Estate Investment Property, Net [Abstract]
Schedule of Real Estate Properties	The Company’s Real estate properties and Development and value-add properties at June 30, 2021 and December 31, 2020 were as follows: June 30, December 31, (In thousands) Real estate properties: Land $ 526,326 502,739 Buildings and building improvements 2,247,617 2,120,731 Tenant and other improvements 551,637 524,954 Right of use assets — Ground leases (operating) (1) 10,639 11,073 Development and value-add properties (2) 320,005 359,588 3,656,224 3,519,085 Less accumulated depreciation (1,004,428) (955,328) $ 2,651,796 2,563,757 (1) EastGroup applies the principles of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 842, Leases, and its related Accounting Standards Updates (“ASUs”) to account for its ground leases, which are classified as operating leases. The related operating lease liabilities for ground leases are included in Other liabilities on the Consolidated Balance Sheets. (2) Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.

REAL ESTATE PROPERTY ACQUISIT_2

REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Business Combination and Asset Acquisition [Abstract]
Real Estate Properties Acquired [Table]	During the six months ended June 30, 2021, EastGroup acquired the following properties: REAL ESTATE PROPERTIES ACQUIRED IN 2021 Location Size Date Cost (Square feet) (In thousands) Operating properties acquired (1) Southpark Distribution Center 2 Phoenix, AZ 79,000 06/10/2021 $ 9,177 Value-add properties acquired (2) Access Point 1 Greenville, SC 156,000 01/15/2021 10,501 Northpoint 200 Atlanta, GA 79,000 01/21/2021 6,516 Access Point 2 Greenville, SC 159,000 05/19/2021 10,743 Cherokee 75 Business Center 2 Atlanta, GA 105,000 06/17/2021 8,837 Total value-add property acquisitions 499,000 36,597 Total acquired assets 578,000 $ 45,774 (1) Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets. (2) Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.	During 2020, EastGroup acquired the following properties: REAL ESTATE PROPERTIES ACQUIRED IN 2020 Location Size Date Cost (Square feet) (In thousands) Operating properties acquired (1) Wells Point One Austin, TX 50,000 02/28/2020 $ 6,231 Cherokee 75 Business Center 1 Atlanta, GA 85,000 12/15/2020 8,323 The Rock Dallas, TX 212,000 12/17/2020 34,102 Total operating property acquisitions 347,000 48,656 Value-add properties acquired (2) Rancho Distribution Center Los Angeles, CA 162,000 10/15/2020 27,862 Total acquired assets 509,000 $ 76,518 (1) Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets. (2) Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.
Acquired Assets and Assumed Liabilities [Table]	The following table summarizes the allocation of the consideration paid for the acquired assets and assumed liabilities in connection with the acquisitions identified in the table above which were acquired during the six months ended June 30, 2021. ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2021 Cost (In thousands) Land $ 6,131 Buildings 38,655 Tenant improvements 108 Total real estate properties acquired 44,894 In-place lease intangibles (1) 880 Above market leases (1) — Below market leases (2) — Total assets acquired, net of liabilities assumed $ 45,774 (1) In-place lease intangibles and above market leases are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.	The following table summarizes the allocation of the consideration paid for the acquired assets and assumed liabilities in connection with the acquisitions identified in the table above which were acquired during the year ended December 31, 2020. ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2020 Cost (In thousands) Land $ 23,565 Buildings 42,024 Tenant improvements 7,971 Total real estate properties acquired 73,560 In-place lease intangibles (1) 3,257 Above market leases (1) 104 Below market leases (2) (403) Total assets acquired, net of liabilities assumed $ 76,518 (1) In-place lease intangibles and above market leases are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Other Assets [Abstract]
Other Assets	A summary of the Company’s Other assets follows: June 30, December 31, (In thousands) Leasing costs (principally commissions) $ 106,954 95,914 Accumulated amortization of leasing costs (39,065) (38,371) Leasing costs (principally commissions), net of accumulated amortization 67,889 57,543 Acquired in-place lease intangibles 25,862 28,107 Accumulated amortization of acquired in-place lease intangibles (13,167) (13,554) Acquired in-place lease intangibles, net of accumulated amortization 12,695 14,553 Acquired above market lease intangibles 1,825 1,825 Accumulated amortization of acquired above market lease intangibles (1,352) (1,231) Acquired above market lease intangibles, net of accumulated amortization 473 594 Straight-line rents receivable 47,229 43,079 Accounts receivable 8,099 6,256 Interest rate swap assets 141 — Right of use assets — Office leases (operating) 2,233 2,131 Receivable for common stock offerings — 1,942 Goodwill 990 990 Prepaid expenses and other assets 18,159 22,491 Total Other assets $ 157,908 149,579

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt [Table Text Block]	Scheduled principal payments on long-term debt, including Unsecured debt, net of debt issuance costs and Secured debt, net of debt issuance costs (not including Unsecured bank credit facilities, net of debt issuance costs ), as of June 30, 2021, are as follows: Years Ending December 31, (In thousands) 2021 - Remainder of year $ 41,350 2022 107,770 2023 115,119 2024 120,122 2025 145,128 2026 and beyond 791,673 Total $ 1,321,162
Long term debt, by type [Table Text Block]	The Company’s debt is detailed below. June 30, December 31, (In thousands) Unsecured bank credit facilities - variable rate, carrying amount $ — 125,000 Unamortized debt issuance costs (2,437) (806) Unsecured bank credit facilities, net of debt issuance costs (2,437) 124,194 Unsecured debt - fixed rate, carrying amount (1) 1,285,000 1,110,000 Unamortized debt issuance costs (2,562) (2,292) Unsecured debt, net of debt issuance costs 1,282,438 1,107,708 Secured debt - fixed rate, carrying amount (1) 36,162 79,096 Unamortized debt issuance costs (34) (103) Secured debt, net of debt issuance costs 36,128 78,993 Total debt, net of debt issuance costs $ 1,316,129 1,310,895 (1) These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps.

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Summary of Accounts Payable and Accrued Expenses	A summary of the Company’s Accounts payable and accrued expenses follows: June 30, December 31, (In thousands) Property taxes payable $ 30,671 3,524 Development costs payable 19,553 6,427 Real estate improvements and capitalized leasing costs payable 6,398 5,692 Interest payable 6,601 6,537 Dividends payable 32,927 32,677 Book overdraft (1) — 5,176 Other payables and accrued expenses 5,762 9,540 Total Accounts payable and accrued expenses $ 101,912 69,573 (1) Represents checks written before the end of the period which have not cleared the bank; therefore, the bank has not yet advanced cash to the Company. When the checks clear the bank, they will be funded through the Company’s working cash line of credit, which is included in the Company’s Unsecured bank credit facilities.

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Summary of other liabilities	A summary of the Company’s Other liabilities follows: June 30, December 31, (In thousands) Security deposits $ 25,357 22,140 Prepaid rent and other deferred income 13,600 14,694 Operating lease liabilities — Ground leases 10,803 11,199 Operating lease liabilities — Office leases 2,282 2,167 Acquired below-market lease intangibles 8,929 9,019 Accumulated amortization of below-market lease intangibles (6,673) (6,168) Acquired below-market lease intangibles, net of accumulated amortization 2,256 2,851 Interest rate swap liabilities 3,942 10,752 Prepaid tenant improvement reimbursements 360 364 Other liabilities 5,650 5,650 Total Other liabilities $ 64,250 69,817

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jun. 30, 2021
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 14 for information regarding the Company’s interest rate swaps. Three Months Ended Six Months Ended 2021 2020 2021 2020 (In thousands) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS): Balance at beginning of period $ (2,538) (12,983) (10,752) 2,807 Other comprehensive income (loss) - interest rate swaps (1,263) (1,824) 6,951 (17,614) Balance at end of period $ (3,801) (14,807) (3,801) (14,807)

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2021
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]
Schedule of Derivative Instruments [Table Text Block]	As of June 30, 2021 and December 31, 2020, 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 June 30, 2021 Notional Amount as of December 31, 2020 (In thousands) Interest Rate Swap $75,000 $75,000 Interest Rate Swap $65,000 $65,000 Interest Rate Swap $40,000 $40,000 Interest Rate Swap $100,000 $100,000 Interest Rate Swap $100,000 $100,000 Interest Rate Swap $50,000 —
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 June 30, 2021 and December 31, 2020. See Note 17 for additional information on the fair value of the Company’s interest rate swaps. Derivatives As of June 30, 2021 Derivatives As of December 31, 2020 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as cash flow hedges: Interest rate swap assets Other assets $ 141 Other assets $ — Interest rate swap liabilities Other liabilities 3,942 Other liabilities 10,752
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 six months ended June 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 (In thousands) DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS Interest Rate Swaps: Amount of income (loss) recognized in Other comprehensive income (loss) on derivatives $ (2,395) (2,869) 4,768 (18,572) Amount of (income) loss reclassified from Accumulated other comprehensive income (loss) into Interest expense 1,132 1,045 2,183 958

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
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 Six Months Ended June 30, June 30, 2021 2020 2021 2020 (In thousands) BASIC EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 27,558 23,484 54,897 46,781 Denominator – weighted average shares outstanding 40,068 39,007 39,871 38,945 DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 27,558 23,484 54,897 46,781 Denominator: Weighted average shares outstanding 40,068 39,007 39,871 38,945 Unvested restricted stock 97 70 94 74 Total Shares 40,165 39,077 39,965 39,019

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [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 six months ended June 30, 2021, the Company withheld 30,252 shares to satisfy the tax obligations for those participants who elected this option as permitted under the applicable equity plan. As of the grant dates, the fair value of shares that were granted during the six months ended June 30, 2021 was $6,133,000. As of the vesting dates, the aggregate fair value of shares that vested during the six months ended June 30, 2021 was $10,322,000. Three Months Ended Six Months Ended Award Activity: June 30, 2021 June 30, 2021 Shares Weighted Average Grant Date Fair Value Weighted Average Grant Date Fair Value Unvested at beginning of period 97,134 $ 111.44 113,403 $ 100.89 Granted (1) (2) — — 57,423 106.80 Forfeited — — — — Vested — — (73,692) 91.59 Unvested at end of period 97,134 $ 111.44 97,134 $ 111.44 (1) Includes shares granted in prior years for which performance conditions have been satisfied and the number of shares have been determined.

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Carrying Amount (1) Fair Value Carrying Amount (1) Fair Value (In thousands) Financial Assets: Cash and cash equivalents $ 38,565 38,565 21 21 Interest rate swap assets 141 141 — — Financial Liabilities: Unsecured bank credit facilities - variable rate (2) — — 125,000 124,820 Unsecured debt (2) 1,285,000 1,326,729 1,110,000 1,141,803 Secured debt (2) 36,162 36,675 79,096 80,435 Interest rate swap liabilities 3,942 3,942 10,752 10,752 (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 10 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. 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 14 for additional information on the Company’s interest rate swaps. 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. 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. 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. 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 14 for additional information on the Company’s interest rate swaps.

PRINCIPLES OF CONSOLIDATION (De

PRINCIPLES OF CONSOLIDATION (Details)	Jun. 30, 2021ft²aInteger	Dec. 31, 2020aInteger
Controlling interest joint ventures and equity method investees [Line Items]
Number of joint venture arrangements | Integer	2	2
Percentage of assets, liabilities, revenues, and expenses of the buildings held in joint ventures with the noncontrolling interests	100.00%	100.00%
Speed Distribution Center
Controlling interest joint ventures and equity method investees [Line Items]
Square Footage of Real Estate Property | ft²	519,000
Industry Distribution Center II - undivided tenant-in-common interest [Member]
Controlling interest joint ventures and equity method investees [Line Items]
Tenant-in-common interest	50.00%	50.00%
Controlling Interest Joint Ventures [Domain] | Miramar Land [Member]
Controlling interest joint ventures and equity method investees [Line Items]
Area of Land	6.5	6.5
Less Than Wholly Owned Joint Venture Investment Ownership Percentage	95.00%	95.00%
Controlling Interest Joint Ventures [Domain] | Otay Mesa Land [Member]
Controlling interest joint ventures and equity method investees [Line Items]
Area of Land	41.6	41.6
Less Than Wholly Owned Joint Venture Investment Ownership Percentage	99.00%	99.00%

LEASE REVENUE (Details)

LEASE REVENUE (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lease Revenue [Line Items]
Lease income - operating leases		$ 74,358	$ 66,793	$ 147,740	$ 132,756
Variable lease income	[1]	25,204	22,707	49,739	45,321
Income from real estate operations		$ 99,562	$ 89,500	$ 197,479	$ 178,077
[1]	Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance.

REAL ESTATE PROPERTIES (Details

REAL ESTATE PROPERTIES (Details)		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)Integer	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Real Estate Properties [Line Items]
Number of Reporting Units | Integer				1
Depreciation Expense During the Period		$ 25,858,000	$ 23,813,000	$ 51,005,000	$ 46,902,000
Percentage of occupancy to qualify as value-add property				75.00%		75.00%
Percentage of acquisition price to be spent on capital items to qualify as value-add property				20.00%		20.00%
Real Estate Properties
Land		526,326,000		$ 526,326,000		$ 502,739,000
Building and building improvements		2,247,617,000		2,247,617,000		2,120,731,000
Tenant and other improvements		551,637,000		551,637,000		524,954,000
Right of use assets - Ground leases (operating)	[1]	10,639,000		10,639,000		11,073,000
Development and value-add properties	[2]	320,005,000		320,005,000		359,588,000
Real estate, development and value-add properties		3,656,224,000		3,656,224,000		3,519,085,000
Less accumulated depreciation		(1,004,428,000)		(1,004,428,000)		(955,328,000)
Real estate, net		$ 2,651,796,000		$ 2,651,796,000		$ 2,563,757,000
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
[1]	EastGroup applies the principles of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 842, Leases, and its related Accounting Standards Updates (“ASUs”) to account for its ground leases, which are classified as operating leases. The related operating lease liabilities for ground leases are included in Other liabilities on the Consolidated Balance Sheets.
[2]	Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use.  Acquired properties meeting either of the following two conditions are considered value-add properties:  (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.

DEVELOPMENT AND VALUE-ADD PRO_2

DEVELOPMENT AND VALUE-ADD PROPERTIES (Details)	6 Months Ended
	Jun. 30, 2021
Development properties [Member]
Development and Value-add [Line Items]
Percentage of Occupation when property transfers from the development and value-add program to real estate properties	90.00%
Length of Time After Project Completion (Developments) or Acquisition (Value-Add) When Project Transfers to Real Estate Properties	1 year
Value-add properties [Member]
Development and Value-add [Line Items]
Percentage of Occupation when property transfers from the development and value-add program to real estate properties	90.00%
Length of Time After Project Completion (Developments) or Acquisition (Value-Add) When Project Transfers to Real Estate Properties	1 year
Development and value-add properties [Member]
Development and Value-add [Line Items]
Percentage of Occupation When Costs Ceased Being Capitalized	90.00%
Length of Time After Project Completion When Development Cost Ceased Being Capitalized	1 year

REAL ESTATE PROPERTY ACQUISIT_3

REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details)		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2021USD ($)ft²	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)ft²	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)ft²
Property Acquisition [Line Items]
Amortization expense for lease intangibles		$ 1,307,000	$ 1,372,000	$ 2,738,000	$ 2,706,000
Above and below market leases Increase (decrease) rental Income		$ 245,000	$ 372,000	$ 474,000	$ 746,000
Percentage of acquisition price to be spent on capital items to qualify as value-add property				20.00%		20.00%
Percentage of occupancy to qualify as value-add property				75.00%		75.00%
Speed Distribution Center
Property Acquisition [Line Items]
Square Footage of Real Estate Property | ft²		519,000		519,000
2020 Acquisitions [Member]
Property Acquisition [Line Items]
Cost of Property Acquired						$ 76,518,000
Square Footage of Real Estate Property | ft²						509,000
Acquired Assets and Assumed Liabilities [Line Items]
Land						$ 23,565,000
Buildings						42,024,000
Tenant Improvements						7,971,000
Total Real Estate Properties						73,560,000
Total assets acquired, net of liabilities assumed						$ 76,518,000
Weighted Average Remaining Lease Term of Acquired Properties						3 years 10 months 24 days
2020 Acquisitions [Member] | Leases, Acquired-in-Place [Member]
Acquired Assets and Assumed Liabilities [Line Items]
Intangible acquired associated with purchase of real estate	[1]					$ 3,257,000
2020 Acquisitions [Member] | Above Market Leases [Member]
Acquired Assets and Assumed Liabilities [Line Items]
Intangible acquired associated with purchase of real estate	[1]					104,000
2020 Acquisitions [Member] | Below market lease [Member]
Acquired Assets and Assumed Liabilities [Line Items]
Intangible acquired associated with purchase of real estate	[2]					(403,000)
2021 operating property acquisitions | Southpark Distribution Center II
Property Acquisition [Line Items]
Cost of Property Acquired	[3]	$ 9,177,000		$ 9,177,000
Square Footage of Real Estate Property | ft²	[3]	79,000		79,000
Date of Acquisition	[3]			Jun. 10, 2021
2021 Value-add Property Acquisitions
Property Acquisition [Line Items]
Cost of Property Acquired	[4]	$ 36,597,000		$ 36,597,000
Square Footage of Real Estate Property | ft²	[4]	499,000		499,000
2021 Value-add Property Acquisitions | Access Point I
Property Acquisition [Line Items]
Cost of Property Acquired	[4]	$ 10,501,000		$ 10,501,000
Square Footage of Real Estate Property | ft²	[4]	156,000		156,000
Date of Acquisition	[4]			Jan. 15, 2021
2021 Value-add Property Acquisitions | Northpoint 200
Property Acquisition [Line Items]
Cost of Property Acquired	[4]	$ 6,516,000		$ 6,516,000
Square Footage of Real Estate Property | ft²	[4]	79,000		79,000
Date of Acquisition	[4]			Jan. 21, 2021
2021 Value-add Property Acquisitions | Access Point 2
Property Acquisition [Line Items]
Cost of Property Acquired	[4]	$ 10,743,000		$ 10,743,000
Square Footage of Real Estate Property | ft²	[4]	159,000		159,000
Date of Acquisition	[4]			May 19, 2021
2021 Value-add Property Acquisitions | Cherokee 75 Business Center
Property Acquisition [Line Items]
Cost of Property Acquired	[4]	$ 8,837,000		$ 8,837,000
Square Footage of Real Estate Property | ft²	[4]	105,000		105,000
Date of Acquisition	[4]			Jun. 17, 2021
2021 Acquisitions
Property Acquisition [Line Items]
Cost of Property Acquired		$ 45,774,000		$ 45,774,000
Square Footage of Real Estate Property | ft²		578,000		578,000
Acquired Assets and Assumed Liabilities [Line Items]
Land		$ 6,131,000		$ 6,131,000
Buildings		38,655,000		38,655,000
Tenant Improvements		108,000		108,000
Total Real Estate Properties		44,894,000		44,894,000
Total assets acquired, net of liabilities assumed		$ 45,774,000		$ 45,774,000
Weighted Average Remaining Lease Term of Acquired Properties		2 years 2 months 12 days		2 years 2 months 12 days
2021 Acquisitions | Leases, Acquired-in-Place [Member]
Acquired Assets and Assumed Liabilities [Line Items]
Intangible acquired associated with purchase of real estate	[1]	$ 880,000		$ 880,000
2021 Acquisitions | Above Market Leases [Member]
Acquired Assets and Assumed Liabilities [Line Items]
Intangible acquired associated with purchase of real estate	[1]	0		0
2021 Acquisitions | Below market lease [Member]
Acquired Assets and Assumed Liabilities [Line Items]
Intangible acquired associated with purchase of real estate	[2]	$ 0		$ 0
2020 operating property acquisitions
Property Acquisition [Line Items]
Cost of Property Acquired	[3]					$ 48,656,000
Square Footage of Real Estate Property | ft²	[3]					347,000
2020 operating property acquisitions | Wells Point One
Property Acquisition [Line Items]
Cost of Property Acquired	[3]					$ 6,231,000
Square Footage of Real Estate Property | ft²	[3]					50,000
Date of Acquisition	[3]					Feb. 28, 2020
2020 operating property acquisitions | Cherokee 75 Business Center I
Property Acquisition [Line Items]
Cost of Property Acquired	[3]					$ 8,323,000
Square Footage of Real Estate Property | ft²	[3]					85,000
Date of Acquisition	[3]					Dec. 15, 2020
2020 operating property acquisitions | The Rock
Property Acquisition [Line Items]
Cost of Property Acquired	[3]					$ 34,102,000
Square Footage of Real Estate Property | ft²	[3]					212,000
Date of Acquisition	[3]					Dec. 17, 2020
2020 Value-Add Property Acquisitions | Rancho Distribution Center [Member]
Property Acquisition [Line Items]
Cost of Property Acquired	[4]					$ 27,862,000
Square Footage of Real Estate Property | ft²	[4]					162,000
Date of Acquisition	[4]					Oct. 15, 2020
[1]	In-place lease intangibles and above market leases are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[2]	Below market leases are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[3]	Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets.
[4]	Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use.  Acquired properties meeting either of the following two conditions are considered value-add properties:  (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Assets Components [Abstract]
Leasing costs (principally commissions)	$ 106,954	$ 95,914
Accumulated amortization of leasing costs	(39,065)	(38,371)
Leasing costs (principally commissions), net of accumulated amortization	67,889	57,543
Acquired in-place lease intangibles	25,862	28,107
Accumulated amortization of acquired in-place lease intangibles	(13,167)	(13,554)
Acquired in-place lease intangibles, net of accumulated amortization	12,695	14,553
Acquired above market lease intangibles	1,825	1,825
Accumulated amortization of acquired above market lease intangibles	(1,352)	(1,231)
Acquired above market lease intangibles, net of accumulated amortization	473	594
Straight-line rents receivable	47,229	43,079
Accounts receivable	8,099	6,256
Interest rate swap assets	141	0
Right of use assets - Office Leases (operating)	2,233	2,131
Receivable for common stock offerings	0	1,942
Goodwill	990	990
Prepaid expenses and other assets	18,159	22,491
Total Other Assets	$ 157,908	$ 149,579

DEBT (Details)

DEBT (Details)		6 Months Ended
		Jun. 30, 2021USD ($)Integer	Dec. 31, 2020USD ($)
Secured and Unsecured Debt [Line Items]
Moody's Credit Rating		Baa2
Unsecured bank credit facilities		$ (2,437,000)	$ 124,194,000
Secured Debt		36,128,000	78,993,000
Unsecured Debt		1,282,438,000	1,107,708,000
Total debt		1,316,129,000	1,310,895,000
Secured and unsecured debt [Member]
Payments of principal over future years [Abstract]
Remainder of 2021		41,350,000
2022		107,770,000
2023		115,119,000
2024		120,122,000
2025		145,128,000
2026 and beyond		791,673,000
Long-term debt, maturities, secured debt and unsecured debt		$ 1,321,162,000
$50 million senior unsecured term loan (2021)
Secured and Unsecured Debt [Line Items]
Debt Instrument, Term		4 years
Debt Instrument, Interest Rate, Effective Percentage		1.55%
Debt Instrument, Basis Spread on Variable Rate		1.00%
Unsecured debt, carrying amount		$ 50,000,000
Mortgage loan, repaid during period
Secured and Unsecured Debt [Line Items]
Secured debt, carrying amount repaid		$ 40,800,000
Debt Instrument, Maturity Date, Description		June 5, 2021
Fixed interest rate		4.75%
$125 million senior unsecured private placement notes (2021)
Secured and Unsecured Debt [Line Items]
Debt Instrument, Term		10 years
Fixed interest rate		2.74%
Unsecured debt, carrying amount		$ 125,000,000
Unsecured bank credit facilities
Secured and Unsecured Debt [Line Items]
Unsecured bank credit facilities - variable rate, carrying amount		0	125,000,000
Unsecured bank credit facilities		(2,437,000)	124,194,000
Unamortized debt issuance costs		(2,437,000)	(806,000)
Unsecured Debt [Member]
Secured and Unsecured Debt [Line Items]
Unamortized debt issuance costs		(2,562,000)	(2,292,000)
Unsecured debt, carrying amount	[1]	1,285,000,000	1,110,000,000
Unsecured Debt		1,282,438,000	1,107,708,000
Secured Debt [Member]
Secured and Unsecured Debt [Line Items]
Secured debt-fixed rate, carrying amount	[1]	36,162,000	79,096,000
Secured Debt		36,128,000	78,993,000
Unamortized debt issuance costs		(34,000)	$ (103,000)
Nine bank group unsecured revolving credit facility [Member] | Former credit facility obtained in 2018 - $350 million [Member]
Secured and Unsecured Debt [Line Items]
Line of Credit Facility, Borrowing Capacity		$ 350,000,000
Debt instrument, basis spread above LIBOR variable rate		100
Line of credit, facility fee (in basis points)		20
Debt Instrument, Maturity Date, Description		July 30, 2022
Nine bank group unsecured revolving credit facility [Member] | Bank credit facility obtained in 2021 - $425 million
Secured and Unsecured Debt [Line Items]
Line of Credit Facility, Interest Rate at Period End		0.876%
Letters of Credit Outstanding, Amount		$ 674,000
Line of Credit Facility, Borrowing Capacity		$ 425,000,000
Number of banks included in the unsecured revolving credit facility | Integer		9
Debt instrument, basis spread above LIBOR variable rate		77.5
Line of credit, facility fee (in basis points)		15
Debt Instrument, Maturity Date, Description		July 30, 2025
Extension option on credit facility		two six-month extensions
Line of credit facility, accordion		$ 325,000,000
Nine bank group unsecured revolving credit facility [Member] | Bank credit facilities obtained in 2021 - $425 and $50 million
Secured and Unsecured Debt [Line Items]
Initial pricing basis for credit facilities		BBB+/Baa1
Line of credit facility covenant terms, consolidated leverage ratio		32.50%
Pnc Na Unsecured revolving credit facility [Member] | Former credit facility obtained in 2018 - $45 million [Member]
Secured and Unsecured Debt [Line Items]
Line of Credit Facility, Borrowing Capacity		$ 45,000,000
Debt instrument, basis spread above LIBOR variable rate		100
Line of credit, facility fee (in basis points)		20
Debt Instrument, Maturity Date, Description		July 30, 2022
Pnc Na Unsecured revolving credit facility [Member] | Bank credit facility obtained in 2021 - $50 million
Secured and Unsecured Debt [Line Items]
Line of Credit Facility, Interest Rate at Period End		0.876%
Line of Credit Facility, Borrowing Capacity		$ 50,000,000
Debt instrument, basis spread above LIBOR variable rate		77.5
Line of credit, facility fee (in basis points)		15
Debt Instrument, Maturity Date, Description		July 30, 2025
Extension option on credit facility		two six-month extensions
[1]	These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps.

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Accounts Payable and Accrued Expenses [Abstract]
Property taxes payable		$ 30,671	$ 3,524
Development costs payable		19,553	6,427
Real estate improvements and capitalized leasing costs payable		6,398	5,692
Interest payable		6,601	6,537
Dividends payable		32,927	32,677
Book Overdraft	[1]	0	5,176
Other payables and accrued expenses		5,762	9,540
Accounts payable and accrued expenses		$ 101,912	$ 69,573
[1]	Represents checks written before the end of the period which have not cleared the bank; therefore, the bank has not yet advanced cash to the Company. When the checks clear the bank, they will be funded through the Company’s working cash line of credit, which is included in the Company’s Unsecured bank credit facilities.

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Liabilities, Unclassified [Abstract]
Security deposits	$ 25,357	$ 22,140
Prepaid rent and other deferred income	13,600	14,694
Operating lease liabilities - ground leases	10,803	11,199
Operating lease liabilities - office leases	2,282	2,167
Acquired Below Market Lease Intangibles	8,929	9,019
Accumulated Amortization of Acquired Below Market Lease Intangibles	(6,673)	(6,168)
Acquired Below Market Lease Intangibles, Net of Accumulated Amortization	2,256	2,851
Interest rate swap liabilities	3,942	10,752
Prepaid tenant improvement reimbursements	360	364
Other liabilities	5,650	5,650
Total Other Liabilities	$ 64,250	$ 69,817

COMPREHENSIVE INCOME (Details)

COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
COMPREHENSIVE INCOME [Abstract]
Balance at Beginning of Period	$ (2,538)	$ (10,752)	$ (12,983)	$ 2,807	$ (10,752)	$ 2,807
Other comprehensive income (loss) - interest rate swaps	(1,263)	8,214	(1,824)	(15,790)	6,951	(17,614)
Balance at End of Period	$ (3,801)	$ (2,538)	$ (14,807)	$ (12,983)	$ (3,801)	$ (14,807)

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)Integer	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)Integer	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Derivative [Line Items]
Number of interest rate swaps | Integer	6		6
Interest Rate Cash Flow Hedge Assets at Fair Value	$ 141,000		$ 141,000		$ 0
Interest rate cash flow hedge liabilities at fair value	3,942,000		3,942,000		10,752,000
Swap termination value	3,942,000		3,942,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Amount of Income (Loss) Recognized in Other Comprehensive Income on Derivatives	(2,395,000)	$ (2,869,000)	4,768,000	$ (18,572,000)
Amount of (income) loss reclassified from accumulated other comprehensive income into interest expense	1,132,000	$ 1,045,000	2,183,000	$ 958,000
Cash flow hedge amount to be reclassified to Interest Expense in next 12 months	3,636,000		3,636,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivative [Line Items]
Interest Rate Cash Flow Hedge Assets at Fair Value	141,000		141,000		0
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Interest rate cash flow hedge liabilities at fair value	3,942,000		3,942,000		10,752,000
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		65,000,000
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		40,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $100 million interest rate swap (2019) [Domain]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	100,000,000		100,000,000		100,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $100 million interest rate swap (2020) [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	100,000,000		100,000,000		100,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $50 million interest rate swap executed in 2021
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	$ 50,000,000		$ 50,000,000		$ 0

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
BASIC EPS COMPUTATION FOR NET INCOME AVAILABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS [Abstract]
Numerator - net income attributable to common stockholders	$ 27,558	$ 23,484	$ 54,897	$ 46,781
Denominator - Weighted average shares outstanding	40,068	39,007	39,871	38,945
DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Numerator - net income attributable to common stockholders	$ 27,558	$ 23,484	$ 54,897	$ 46,781
Denominator - Weighted average shares outstanding	40,068	39,007	39,871	38,945
Unvested restricted stock	97	70	94	74
Total Shares	40,165	39,077	39,965	39,019

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)		3 Months Ended				6 Months Ended
		Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ (2,893,000)	$ (2,147,000)	$ (2,694,000)	$ (1,781,000)
Fair value of shares granted, as of the grant dates						$ 6,133,000
Share based compensation arrangement by share-based payment award, Percent of vesting that will occur the following year						25.00%
Share-based compensation arrangement by share-based payment award, Percent vesting at the end of performance period						75.00%
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested as of the vesting date						$ 10,322,000
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)						118,911
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		97,134	97,134			97,134		113,403
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 111.44	$ 111.44			$ 111.44		$ 100.89
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	[1],[2]	0				57,423
Grant date fair value of shares issued (in dollars per share)	[1],[2]	$ 0				$ 106.80
Forfeited (in shares)		0				0
Forfeited (per share)		$ 0				$ 0
Vested (in shares)		0				(73,692)
Vested (per share)		$ 0				$ 91.59
Award Recipient Type Employee [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 2,189,000		1,893,000		$ 4,333,000	$ 3,672,000
Stock-based compensation costs capitalized as development costs		479,000		499,000		$ 1,029,000	1,054,000
Shares withheld for tax obligations						30,252
Award Recipient Type Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 704,000		$ 801,000		$ 707,000	$ 803,000
[1]	Does not include the restricted shares that may be earned if the performance goals established in 2019 and 2020 for long-term performance and in 2021 for annual and long-term performance are achieved. Depending on the actual level of achievement of the goals at the end of the open performance periods, the number of shares earned could range from zero to 118,911.
[2]	Includes shares granted in prior years for which performance conditions have been satisfied and the number of shares have been determined.

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Financial Assets [Abstract]
Cash and Cash Equivalents, at Carrying Value		$ 38,565	$ 21	$ 104	$ 224
Fair Value [Member]
Financial Assets [Abstract]
Cash and Cash Equivalents, Fair Value Disclosure		38,565	21
Interest rate swap assets		141	0
Financial Liabilities [Abstract]
Unsecured bank credit facilities - variable rate		0	124,820
Unsecured debt Fair Value Disclosure		1,326,729	1,141,803
Secured debt		36,675	80,435
Interest rate swap liabilities		3,942	10,752
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and Cash Equivalents, at Carrying Value	[1]	38,565	21
Interest rate swap assets	[1]	141	0
Financial Liabilities [Abstract]
Unsecured bank credit facilities - variable rate	[1]	0	125,000
Unsecured debt Fair Value Disclosure	[1]	1,285,000	1,110,000
Secured debt	[1]	36,162	79,096
Interest rate swap liabilities	[1]	$ 3,942	$ 10,752
[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 10 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. 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 14 for additional information on the Company’s interest rate swaps. 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. 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. 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. 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 14 for additional information on the Company’s interest rate swaps.

RISKS AND UNCERTAINTIES Notes (

RISKS AND UNCERTAINTIES Notes (Details)	Jun. 30, 2021USD ($)
Risks and Uncertainties [Abstract]
Deferred Rent Receivables, Gross	$ 1,700,000
Deferred rent receivable, applicable to past periods	1,700,000
Deferred rent receivable, qualify to be recognized as rental income in charge periods under the original lease terms	$ 1,400,000