EastGroup Properties (EGP) 10-Q 27 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2022	Jul. 26, 2022
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2022
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		43,566,016
Document Fiscal Year Focus	2022
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, 2022	Dec. 31, 2021
ASSETS
Real estate properties		$ 4,155,513,000	$ 3,546,711,000
Development and value-add properties	[1]	554,363,000	504,614,000
Real estate, development and value-add properties		4,709,876,000	4,051,325,000
Less accumulated depreciation		(1,089,156,000)	(1,035,617,000)
Real estate, net		3,620,720,000	3,015,708,000
Real Estate Held-for-sale		0	5,695,000
Unconsolidated investment		7,376,000	7,320,000
Cash		5,555,000	4,393,000
Other Assets		218,066,000	182,220,000
TOTAL ASSETS		3,851,717,000	3,215,336,000
LIABILITIES
Unsecured bank credit facilities, net of debt issuance costs		204,573,000	207,066,000
Unsecured debt, net of debt issuance costs		1,416,876,000	1,242,570,000
Secured debt, net of debt issuance costs		2,087,000	2,142,000
Accounts payable and accrued expenses		156,208,000	109,760,000
Other liabilities		85,899,000	82,338,000
Total Liabilities		1,865,643,000	1,643,876,000
STOCKHOLDERS' EQUITY
Common shares; $.0001 par value; 70,000,000 shares authorized; 43,566,016 shares issued and outstanding at June 30, 2022 and 41,268,846 at December 31, 2021		4,000	4,000
Excess shares; $.0001 par value; 30,000,000 shares authorized; no shares issued		0	0
Additional paid-in capital		2,263,072,000	1,886,820,000
Distributions in excess of earnings		(302,324,000)	(318,056,000)
Accumulated Other Comprehensive Income		23,971,000	1,302,000
Total Stockholders' Equity		1,984,723,000	1,570,070,000
Noncontrolling interest in joint ventures		1,351,000	1,390,000
Total Equity		1,986,074,000	1,571,460,000
TOTAL LIABILITIES AND EQUITY		$ 3,851,717,000	$ 3,215,336,000
Common shares, par value (in dollars per share)		$ 0.0001	$ 0.0001
Common shares, authorized		70,000,000	70,000,000
Common shares, issued		43,566,016	41,268,846
Excess Stock, Shares Issued		0	0
Common shares, outstanding		43,566,016	41,268,846
Excess shares, par value (in dollars per share)		$ 0.0001	$ 0.0001
Excess shares, authorized		30,000,000	30,000,000
[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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
REVENUES
Income from real estate operations	$ 118,498,000	$ 99,562,000	$ 231,450,000	$ 197,479,000
Other revenue	55,000	13,000	77,000	27,000
Revenues	118,553,000	99,575,000	231,527,000	197,506,000
EXPENSES
Expenses from real estate operations	32,546,000	28,057,000	63,610,000	55,877,000
Depreciation and amortization	37,461,000	31,349,000	73,802,000	61,662,000
General and administrative	4,226,000	4,486,000	8,536,000	8,522,000
Indirect leasing costs	116,000	134,000	291,000	464,000
Expenses	74,349,000	64,026,000	146,239,000	126,525,000
OTHER INCOME (EXPENSE)
Interest expense	(8,970,000)	(8,181,000)	(17,080,000)	(16,457,000)
Gains on sales of real estate investments	10,647,000	0	40,999,000	0
Other	284,000	210,000	562,000	411,000
Net Income	46,165,000	27,578,000	109,769,000	54,935,000
Net income attributable to noncontrolling interest in joint ventures	(26,000)	(20,000)	(50,000)	(38,000)
NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS	46,139,000	27,558,000	109,719,000	54,897,000
Other comprehensive income (loss) - interest rate swaps	6,841,000	(1,263,000)	22,669,000	6,951,000
TOTAL COMPREHENSIVE INCOME	$ 52,980,000	$ 26,295,000	$ 132,388,000	$ 61,848,000
BASIC PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net income attributable to common stockholders	$ 1.09	$ 0.69	$ 2.63	$ 1.38
Weighted average shares outstanding (in shares)	42,211	40,068	41,729	39,871
DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net income attributable to common stockholders	$ 1.09	$ 0.69	$ 2.62	$ 1.37
Weighted average shares outstanding (in shares)	42,316	40,165	41,838	39,965

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, 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
Net 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
Shares withheld for tax obligations	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
Net 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
BALANCE at Dec. 31, 2021	$ 1,571,460	4	1,886,820	(318,056)	1,302	1,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	63,604	0	0	63,580	0	24
Net unrealized change in fair value of interest rate swaps	15,828	0	0	0	15,828	0
Common dividends declared	(45,953)	0	0	(45,953)	0	0
Stock-based compensation, net of forfeitures	2,594	0	2,594	0	0	0
Issuance of common stock, common stock offering, net of expenses	74,179	0	74,179	0	0	0
Withheld shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock	(7,265)	0	(7,265)	0	0	0
Net distributions to noncontrolling interest	(58)	0	0	0	0	(58)
BALANCE at Mar. 31, 2022	$ 1,674,389	4	1,956,328	(300,429)	17,130	1,356
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common dividends declared - per share (in dollars per share)	$ 1.10
Issuance of shares of common stock, common stock offering, net of expenses	385,538
BALANCE at Dec. 31, 2021	$ 1,571,460	4	1,886,820	(318,056)	1,302	1,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	109,769
Net unrealized change in fair value of interest rate swaps	22,669
BALANCE at Jun. 30, 2022	$ 1,986,074	4	2,263,072	(302,324)	23,971	1,351
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares withheld for tax obligations	34,251
BALANCE at Mar. 31, 2022	$ 1,674,389	4	1,956,328	(300,429)	17,130	1,356
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	46,165	0	0	46,139	0	26
Net unrealized change in fair value of interest rate swaps	6,841	0	0	0	6,841	0
Common dividends declared	(48,034)	0	0	(48,034)	0	0
Stock-based compensation, net of forfeitures	3,062	0	3,062	0	0	0
Issuance of common stock, common stock offering, net of expenses	303,682	0	303,682	0	0	0
Net distributions to noncontrolling interest	(31)	0	0	0	0	(31)
BALANCE at Jun. 30, 2022	$ 1,986,074	$ 4	$ 2,263,072	$ (302,324)	$ 23,971	$ 1,351
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common dividends declared - per share (in dollars per share)	$ 1.10
Issuance of shares of common stock, common stock offering, net of expenses	1,868,809

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES
Net Income	$ 109,769	$ 54,935
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	73,802	61,662
Stock-based compensation expense	4,320	4,011
Gain on sales of real estate investments	(40,999)	0
Changes in operating assets and liabilities:
Accrued income and other assets	598	305
Accounts payable, accrued expenses and prepaid rent	28,104	19,783
Other	558	714
NET CASH PROVIDED BY OPERATING ACTIVITIES	176,152	141,410
INVESTING ACTIVITIES
Development and value-add properties	(283,451)	(115,113)
Purchases of real estate	(2,049)	(9,177)
Real estate improvements	(21,723)	(18,094)
Net proceeds from sales of real estate investments	51,006	0
Leasing commissions	(18,362)	(16,813)
Changes in accrued development costs	16,062	13,126
Changes in other assets and other liabilities	(2,621)	526
NET CASH USED IN INVESTING ACTIVITIES	(261,138)	(145,545)
FINANCING ACTIVITIES
Proceeds from unsecured bank credit facilities	501,523	195,137
Repayments on unsecured bank credit facilities	(504,314)	(320,137)
Proceeds from unsecured debt	250,000	175,000
Repayments of unsecured debt	(75,000)	0
Repayments on secured debt	(60,047)	(42,924)
Debt issuance costs	(1,030)	(2,475)
Distributions paid to stockholders (not including dividends accrued)	(91,787)	(63,403)
Proceeds from common stock offerings	74,249	105,891
Payments of Stock Issuance Costs	(70)	(146)
Other	(7,376)	(4,264)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	86,148	42,679
INCREASE IN CASH AND CASH EQUIVALENTS	1,162	38,544
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	4,393	21
CASH AND CASH EQUIVALENTS AT END OF PERIOD	5,555	38,565
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest, net of amounts capitalized of $4,943 and $4,394 for 2022 and 2021, respectively	15,382	15,760
Interest capitalized	4,943	4,394
Cash paid for operating lease liabilities	962	751
Common stock issued in the purchase of real estate	303,682	0
Debt assumed in the purchase of real estate	60,000	0
NON-CASH OPERATING ACTIVITY
Operating lease liabilities arising from obtaining right of use assets	$ 398	$ 348

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2022
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, 2021 and the notes thereto. Certain reclassifications have been made in the 2021 consolidated financial statements to conform to the 2022 presentation.

PRINCIPLES OF CONSOLIDATION

PRINCIPLES OF CONSOLIDATION	6 Months Ended
	Jun. 30, 2022
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, 2022 and December 31, 2021, 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 year ended December 31, 2021, EastGroup began construction of Speed Distribution Center, a 519,000 square foot building on the Otay Mesa land, which was completed and transferred to the Company’s operating portfolio during the three months ended March 31, 2022. As of June 30, 2022 and December 31, 2021, 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, 2022
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, 2022
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, 2022 and 2021: Three Months Ended Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Lease income — operating leases $ 88,931 74,358 173,876 147,740 Variable lease income (1) 29,567 25,204 57,574 49,739 Income from real estate operations $ 118,498 99,562 231,450 197,479 (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, 2022
Real Estate Investment Property, Net [Abstract]
Real Estate Properties	REAL ESTATE PROPERTIES EastGroup has one reportable segment – industrial properties, consistent with the Company’s manner of internal reporting, measurement of operating results and allocation of the Company’s resources. 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, 2022 and 2021, 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 $30,715,000 and $60,107,000 for the three and six months ended June 30, 2022, respectively, and $25,858,000 and $51,005,000 for the same periods in 2021. The Company’s Real estate properties and Development and value-add properties at June 30, 2022 and December 31, 2021 were as follows: June 30, December 31, (In thousands) Real estate properties: Land $ 689,195 544,505 Buildings and building improvements 2,840,948 2,408,944 Tenant and other improvements 605,251 570,627 Right of use assets — Ground leases (operating) (1) 20,119 22,635 Development and value-add properties (2) 554,363 504,614 4,709,876 4,051,325 Less accumulated depreciation (1,089,156) (1,035,617) $ 3,620,720 3,015,708 (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, 2022
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, 2022
Asset Acquisition [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. Criteria considered in grouping similar assets include geographic location, market and operational risks and the physical characteristics of the assets. EastGroup determined that its real estate property acquisitions in 2021 and the first six months of 2022 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 2021 and 2022 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. 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 lease intangibles 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. Factors considered by management in the allocation include an estimate of foregone rents and avoided leasing costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. 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 $2,198,000 and $4,663,000 for the three and six months ended June 30, 2022, respectively, and $1,307,000 and $2,738,000 for the same periods in 2021. Amortization of above and below market lease intangibles increased rental income by $507,000 and $1,352,000 for the three and six months ended June 30, 2022, respectively, and $245,000 and $474,000 for the same periods in 2021. During the six months ended June 30, 2022, EastGroup acquired the following properties: REAL ESTATE PROPERTIES ACQUIRED IN 2022 Location Size Date Cost (1) (Square feet) (In thousands) Operating properties acquired (2) Cebrian Distribution Center and Reed Distribution Center (3) Sacramento, CA 329,000 06/01/2022 $ 49,726 6 th Street Business Center, Benicia Distribution Center 1-5, Ettie Business Center, Laura Alice Business Center, Preston Distribution Center, Sinclair Distribution Center, Transit Distribution Center and Whipple Business Center (3) San Francisco, CA 1,377,000 06/01/2022 309,404 Total operating property acquisitions 1,706,000 359,130 Value-add properties acquired (4) Cypress Preserve 1 & 2 Houston, TX 516,000 03/28/2022 54,462 Zephyr Distribution Center San Francisco, CA 82,000 04/08/2022 29,017 Mesa Gateway Commerce Center Phoenix, AZ 147,000 04/15/2022 18,315 Total value-add property acquisitions 745,000 101,794 Total acquired assets 2,451,000 $ 460,924 (1) Cost is calculated in accordance with FASB ASC 805, Business Combinations, and represents the sum of the purchase price, closing costs and capitalized acquisition costs. (2) 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. (3) The Company acquired these operating properties along with two land parcels, also in Sacramento, CA and San Francisco, CA, in connection with its acquisition of Tulloch Corporation in June 2022. Size and cost are presented on an aggregate basis for the properties located in Sacramento, CA and San Francisco, CA, respectively. In consideration for this acquisition, the Company assumed a $60,000,000 loan and issued 1,868,809 shares of the Company’s common stock. The acquisition date fair value of the loan assumed was $60,000,000, and the acquisition date fair value of the common shares, which was based on the closing share price on the acquisition date, was $303,756,000. (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. The following table summarizes the allocation of the total consideration for the acquired assets and assumed liabilities in connection with the acquisition identified in the table above which was acquired during the six months ended June 30, 2022. ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2022 Cost (In thousands) Land $ 126,067 Buildings and building improvements 315,996 Tenant and other improvements 11,502 Total real estate properties acquired 453,565 In-place lease intangibles (1) 11,418 Below market lease intangibles (2) (4,059) Total assets acquired, net of liabilities assumed $ 460,924 (1) In-place lease intangibles and above market lease intangibles 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 lease intangibles 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, 2022 had a weighted average remaining lease term at acquisition of approximately 3.7 years. Also during the six months ended June 30, 2022, the Company acquired 177.5 acres of development land in Miami, Houston, Phoenix, San Francisco, Sacramento and Atlanta for $54,751,000. The land acquisitions in San Francisco and Sacramento were acquired in connection with the Company’s acquisition of Tulloch Corporation in June 2022. During 2021, EastGroup acquired the following properties: REAL ESTATE PROPERTIES ACQUIRED IN 2021 Location Size Date Cost (1) (Square feet) (In thousands) Operating properties acquired (2) Southpark Distribution Center 2 Phoenix, AZ 79,000 06/10/2021 $ 9,177 DFW Global Logistics Centre Dallas, TX 611,000 08/26/2021 89,829 Progress Center 3 Atlanta, GA 50,000 09/23/2021 5,000 Texas Avenue Austin, TX 20,000 10/15/2021 4,143 Total operating property acquisitions 760,000 108,149 Value-add properties acquired (3) 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 Siempre Viva Distribution Center 3-6 San Diego, CA 547,000 12/01/2021 134,479 Total value-add property acquisitions 1,046,000 171,076 Total acquired assets 1,806,000 $ 279,225 (1) Represents the sum of the purchase price, closing costs and capitalized acquisition costs. (2) 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. (3) 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 total consideration 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, 2021. ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2021 Cost (In thousands) Land $ 42,554 Buildings and building improvements 225,645 Tenant and other improvements 4,907 Right of use assets — Ground leases (operating) 12,708 Total real estate properties acquired 285,814 In-place lease intangibles (1) 9,949 Above market lease intangibles (1) 6 Below market lease intangibles (2) (3,836) Operating lease liabilities — Ground leases (3) (12,708) Total assets acquired, net of liabilities assumed $ 279,225 (1) In-place lease intangibles and above market lease intangibles 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 lease intangibles 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 lease liabilities - Ground leases are included in Other liabilities on the Consolidated Balance Sheets. The leases in the properties acquired during the year ended December 31, 2021 had a weighted average remaining lease term at acquisition of approximately 2.9 years. Also during 2021, the Company acquired 365.8 acres of development land in Austin, Houston, Charlotte, Greenville and Atlanta for $41,065,000. 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, 2022 and 2021.

REAL ESTATE SOLD AND HELD FOR S

REAL ESTATE SOLD AND HELD FOR SALE DISCONTINUED OPERATIONS	6 Months Ended
	Jun. 30, 2022
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, 2022. As of December 31, 2021, the Company owned one operating property that was classified as held for sale on the December 31, 2021 Consolidated Balance Sheet. The property was sold, and a gain on the sale was recorded in the three months ended March 31, 2022. In accordance with ASC 360 and ASC 205, Presentation of Financial Statements , the Company would report a disposal of a component of an entity or a group of components of an entity in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the component or group of components meets the criteria to be classified as held for sale or when the component or group of components is disposed of by sale or other than by sale. In addition, the Company would provide additional disclosures about both discontinued operations and the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation in the financial statements. EastGroup performs an analysis of properties sold to determine whether the sales qualify for discontinued operations presentation. The Company sold operating properties during the six months ended June 30, 2022, as shown in the table below. The results of operations and gains and losses on sales for the properties sold are reported in continuing operations on the Consolidated Statements of Income and Comprehensive Income. The gains and losses on sales are included in Gain on sales of real estate investments. The Company did not consider its sales in 2022 to be disposals of a component of an entity or a group of components of an entity representing a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. A summary of Gain on sales of real estate investments for the six months ended June 30, 2022 and the year ended December 31, 2021 follows: REAL ESTATE PROPERTIES SOLD Location Size Date Sold Net Sales Price Basis Recognized Gain (In square feet) (In thousands) 2022 Metro Business Park Phoenix, AZ 189,000 01/06/2022 $ 32,851 5,880 26,971 Cypress Creek Business Park (1) Fort Lauderdale, FL 56,000 03/31/2022 5,282 1,901 3,381 World Houston 15 East Houston, TX 42,000 05/11/2022 12,873 2,226 10,647 Total for 2022 287,000 $ 51,006 10,007 40,999 2021 Jetport Commerce Park Tampa, FL 284,000 11/09/2021 $ 44,260 5,401 38,859 (1) Cypress Creek Business Park is located on a ground lease. In conjunction with the sale of the property, the Company fully amortized the associated right-of-use asset and liability of $1,745,000.

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Jun. 30, 2022
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) $ 130,445 116,772 Accumulated amortization of leasing costs (45,555) (42,193) Leasing costs (principally commissions), net of accumulated amortization 84,890 74,579 Acquired in-place lease intangibles 39,992 31,561 Accumulated amortization of acquired in-place lease intangibles (14,714) (13,038) Acquired in-place lease intangibles, net of accumulated amortization 25,278 18,523 Acquired above market lease intangibles 840 885 Accumulated amortization of acquired above market lease intangibles (532) (508) Acquired above market lease intangibles, net of accumulated amortization 308 377 Straight-line rents receivable 55,648 51,970 Accounts receivable 4,206 7,133 Interest rate swap assets 24,912 2,237 Right of use assets — Office leases (operating) 2,140 1,984 Escrow deposits for pending acquisitions 4,450 3,050 Prepaid insurance 5,930 7,793 Goodwill 990 990 Receivable for tenant improvement cost reimbursements 566 7,680 Prepaid expenses and other assets 8,748 5,904 Total Other assets $ 218,066 182,220

DEBT

DEBT	6 Months Ended
	Jun. 30, 2022
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 $ 206,419 209,210 Unamortized debt issuance costs (1,846) (2,144) Unsecured bank credit facilities, net of debt issuance costs 204,573 207,066 Unsecured debt - fixed rate, carrying amount (1) 1,420,000 1,245,000 Unamortized debt issuance costs (3,124) (2,430) Unsecured debt, net of debt issuance costs 1,416,876 1,242,570 Secured debt - fixed rate, carrying amount (1) 2,099 2,156 Unamortized debt issuance costs (12) (14) Secured debt, net of debt issuance costs 2,087 2,142 Total debt, net of debt issuance costs $ 1,623,536 1,451,778 (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 London Interbank Offered Rate (“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 their capacities to $425 million and $50 million, respectively, 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 reset on a monthly basis and as of June 30, 2022, was LIBOR plus 77.5 basis points with an annual facility fee of 15 basis points. As of June 30, 2022, the Company had $170,000,000 of variable rate borrowings on this unsecured bank credit facility with a weighted average interest rate of 2.058%. 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, 2022, was LIBOR plus 77.5 basis points with an annual facility fee of 15 basis points. As of June 30, 2022, the interest rate was 2.562% on a balance of $36,419,000. 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 the applicable interest margin will be reduced by one basis point if the Company meets certain sustainability performance targets. In January 2022, the Company and a group of lenders agreed to terms on the private placement of $150 million of senior unsecured notes with a fixed interest rate of 3.03% and a 10-year term. The notes were issued and sold on April 20, 2022 and 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. In February 2022, EastGroup repaid a $75 million unsecured term loan at maturity with an effectively fixed interest rate of 3.03%. In March 2022, the Company closed a $100 million senior unsecured term loan with a 6.5-year term and interest only payments, which bears interest at an annual rate of the Secured Overnight Financing Rate (“SOFR”) plus an applicable margin (1.30% as of June 30, 2022) based on the Company’s senior unsecured long-term debt rating. The Company also entered into an interest rate swap agreement to convert the loan’s SOFR rate component to a fixed interest rate for the entire term of the loan providing a total effectively fixed interest rate of 3.06%. Also during March 2022, the Company closed on the refinance of a $100 million senior unsecured term loan with five years remaining. The amended term loan provides for interest only payments currently at an interest rate of SOFR plus 85 basis points, based on the Company’s current credit ratings and consolidated leverage ratio, which is a 60 basis point reduction in the credit spread compared to the original term loan. The Company has an interest rate swap agreement which converts the loan’s SOFR rate component to a fixed interest rate for the entire term of the loan, providing a total effectively fixed interest rate of 1.80%. In June 2022, the Company assumed a $60 million loan in connection with the acquisition of Tulloch Corporation, the owner of an industrial real estate portfolio comprised of 14 operating properties and two parcels of land, which was immediately repaid with no penalty during June 2022. Also during June 2022, the Company agreed to terms with a bank on a $75 million senior unsecured term loan with interest- only payments, bearing interest at the annual rate of SOFR plus an applicable margin based on the Company’s senior unsecured long-term debt rating and consolidated leverage ratio. The loan is expected to close in the third quarter of 2022 and have a five 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, 2022, are as follows: Years Ending December 31, (In thousands) 2022 - Remainder of year $ 58 2023 115,119 2024 120,122 2025 145,128 2026 141,672 2027 and beyond 900,000 Total $ 1,422,099

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2022
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 $ 35,603 4,494 Development costs payable 27,699 17,529 Retainage payable 16,468 10,576 Real estate improvements and capitalized leasing costs payable 7,630 5,798 Interest payable 7,619 6,547 Dividends payable 49,064 46,864 Book overdraft (1) 3,035 4,845 Other payables and accrued expenses 9,090 13,107 Total Accounts payable and accrued expenses $ 156,208 109,760 (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, 2022
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 $ 33,220 28,343 Prepaid rent and other deferred income 15,902 16,401 Operating lease liabilities — Ground leases 20,509 22,898 Operating lease liabilities — Office leases 2,190 2,032 Acquired below market lease intangibles 11,043 8,124 Accumulated amortization of below market lease intangibles (2,988) (2,707) Acquired below market lease intangibles, net of accumulated amortization 8,055 5,417 Interest rate swap liabilities 941 935 Tenant improvement cost liabilities 1,566 2,796 Other liabilities 3,516 3,516 Total Other liabilities $ 85,899 82,338

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 2021 2022 2021 (In thousands) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS): Balance at beginning of period $ 17,130 (2,538) 1,302 (10,752) Other comprehensive income (loss) - interest rate swaps 6,841 (1,263) 22,669 6,951 Balance at end of period $ 23,971 (3,801) 23,971 (3,801)

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2022
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, 2022, 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 or SOFR 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 $7,416,000 will be reclassified from Other comprehensive income (loss) as a decrease 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. In July 2017, the Financial Conduct Authority announced it intended to stop compelling banks to submit rates for the calculation of LIBOR after 2021. In March 2021, the ICE Benchmark Administration, the administrator of LIBOR, announced its intention to cease publication of certain LIBOR settings after 2021, while continuing to publish overnight and one-, three-, six-, and twelve-month U.S. dollar LIBOR rates through June 30, 2023. While this announcement extended the transition period to June 2023, the United States Federal Reserve Board and other regulatory bodies concurrently issued guidance encouraging banks and other financial market participants to cease entering into new contracts that use U.S. dollar LIBOR as a reference rate as soon as practicable and in any event no later than December 31, 2021. In the U.S., the Alternative Reference Rates Committee, which was convened by the Federal Reserve Board and the Federal Reserve Bank of New York, has recommended that SOFR plus a recommended spread adjustment as its preferred alternative to USD-LIBOR. There are significant differences between LIBOR and SOFR, such as LIBOR being an unsecured lending rate while SOFR is a secured rate, and SOFR is an overnight rate while LIBOR reflects term rates at different maturities. We expect that all LIBOR settings relevant to us will cease to be published or will no longer be representative after June 30, 2023. As a result, any of our LIBOR-based borrowings that extend beyond such date will need to be converted to a replacement rate. Certain risks may arise in connection with transitioning contracts to SOFR or any other alternative variable rate, including any resulting value transfer that may occur. The value of loans, securities or derivative instruments tied to LIBOR could also be impacted. During the six months ended June 30, 2022, the Company entered into a new term loan and two swap agreements which are indexed to SOFR. Also, during the six months ended June 30, 2022, EastGroup refinanced an existing term loan modifying the index from LIBOR to SOFR and concurrently amended the related swap to reference SOFR rather than LIBOR. The Company’s unsecured bank credit facilities and three of its senior unsecured term loans and interest rate swap contracts are indexed to LIBOR and include provisions for a replacement rate which we believe will be substantially equivalent to the all-in LIBOR-based interest rate in effect prior to its replacement. Therefore, management believes the transition will not have a material impact on the Company’s consolidated financial statements. The Company is continuously monitoring and evaluating the related risks, which include interest on loans and amounts received and paid on derivative instruments. These risks arise in connection with transitioning contracts to a new alternative rate, including any resulting value transfer that may occur. The value of loans or derivative instruments indexed to LIBOR could also be impacted if LIBOR is limited or discontinued as interest rates may be adversely affected. While we expect LIBOR to be available in substantially its current form until June 30, 2023, it is possible that LIBOR will become unavailable prior to that point. This could result, for example, if sufficient banks decline to make submissions to the LIBOR administrator. In that case, the risks associated with the transition to an alternative reference rate will be accelerated and magnified. 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, 2022 and December 31, 2021, 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, 2022 Notional Amount as of December 31, 2021 (In thousands) Interest Rate Swap — $75,000 Interest Rate Swap $65,000 $65,000 Interest Rate Swap $100,000 $100,000 Interest Rate Swap $100,000 $100,000 Interest Rate Swap $50,000 $50,000 Interest Rate Swap $100,000 — Interest Rate Swap $75,000 — 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, 2022 and December 31, 2021. See Note 17 for additional information on the fair value of the Company’s interest rate swaps. Derivatives As of June 30, 2022 Derivatives As of December 31, 2021 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as cash flow hedges: Interest rate swap assets Other assets $ 24,912 Other assets $ 2,237 Interest rate swap liabilities Other liabilities 941 Other liabilities 935 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, 2022 and 2021: Three Months Ended Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS Interest Rate Swaps: Amount of income (loss) recognized in Other comprehensive income (loss) on derivatives $ 6,403 (2,395) 21,355 4,768 Amount of loss reclassified from Accumulated other comprehensive income (loss) into Interest expense 438 1,132 1,314 2,183 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 $24,268,000 as of June 30, 2022.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 2022 2021 (In thousands) BASIC EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 46,139 27,558 109,719 54,897 Denominator – weighted average shares outstanding 42,211 40,068 41,729 39,871 DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 46,139 27,558 109,719 54,897 Denominator: Weighted average shares outstanding 42,211 40,068 41,729 39,871 Unvested restricted stock 105 97 109 94 Weighted average diluted shares outstanding 42,316 40,165 41,838 39,965

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
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 plans. ASC 718 requires that the compensation cost relating to share-based payment transactions be recognized in the financial statements and that the cost be measured on the fair value of the equity or liability instruments issued. The cost for market-based awards and awards that only require service are expensed on a straight-line basis over the requisite service periods. The cost for performance-based awards is determined 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. This method accelerates the expensing of the award compared to the straight-line method. For awards with a performance condition, compensation expense is recognized when the performance condition is considered probable of achievement. The total compensation expense for service and performance based awards is based upon the fair market value of the shares on the grant date. The grant date fair value for awards that have been granted and are subject to a future market condition (total shareholder return) are determined using a Monte Carlo simulation pricing model developed to specifically accommodate the unique features of the awards. During the restricted period for awards no longer subject to contingencies, the Company accrues dividends and holds the certificates for the shares; however, the employee can vote the shares. Share certificates and dividends are delivered to the employee as they vest. Forfeitures of awards are recognized as they occur. 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 vesting periods of the Company’s restricted stock plans vary, as determined by the Committee. Restricted stock is granted to executive officers subject to both continued service and the satisfaction of certain annual performance goals and multi-year market conditions as determined by the Committee. The long-term compensation awards include components based on the Company’s total shareholder return over the upcoming three 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 2022 are: (i) funds from operations (“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 (34% vests at the end of the one one 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 total compensation expense is based upon the fair market value of the shares on the grant date. 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 $2,989,000 and $5,550,000 for the three and six months ended June 30, 2022, of which $645,000 and $1,336,000 were capitalized as part of the Company’s development costs. For the three and six months ended June 30, 2021, stock-based compensation cost for employees was $2,189,000 and $4,333,000, of which $479,000 and $1,029,000 were capitalized as part of the Company’s development costs. Stock-based compensation expense for directors was $73,000 and $106,000 for the three and six months ended June 30, 2022, respectively, and $704,000 and $707,000 for the same periods in 2021. Following is a summary of the total restricted shares granted, forfeited and delivered (vested) to participants with the related weighted average grant date fair value share prices. Of the shares that vested in the six months ended June 30, 2022, the Company withheld 34,251 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, 2022 was $9,560,000. As of the vesting dates, the aggregate fair value of shares that vested during the six months ended June 30, 2022 was $17,124,000. Award Activity: Three Months Ended Six Months Ended June 30, 2022 Shares Weighted Average Grant Date Fair Value Weighted Average Grant Date Fair Value Unvested at beginning of period 85,767 $ 129.68 106,212 $ 116.38 Granted (1) (2) 16,793 151.68 76,913 124.30 Forfeited — — — — Vested — — (80,565) 102.42 Unvested at end of period 102,560 $ 133.28 102,560 $ 133.28 (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, 2022
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, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Carrying Amount (1) Fair Value Carrying Amount (1) Fair Value (In thousands) Financial Assets: Cash and cash equivalents $ 5,555 5,555 4,393 4,393 Interest rate swap assets 24,912 24,912 2,237 2,237 Financial Liabilities: Unsecured bank credit facilities - variable rate (2) 206,419 203,888 209,210 209,202 Unsecured debt (2) 1,420,000 1,333,855 1,245,000 1,267,702 Secured debt (2) 2,099 2,040 2,156 2,269 Interest rate swap liabilities 941 941 935 935 (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 and SOFR 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 and SOFR 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, 2022
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 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. Although COVID-19 has had an overall minimal impact on the Company in 2020, 2021 and during the first six months of 2022, EastGroup remains unable to predict any future impact that it may have on its business, financial condition, results of operations and cash flows.

LEGAL MATTERS (Notes)

LEGAL MATTERS (Notes)	6 Months Ended
	Jun. 30, 2022
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, 2022
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 ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

SUBSEQUENT EVENTS (Notes)

SUBSEQUENT EVENTS (Notes)	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS Subsequent to June 30, 2022, the Company closed on the acquisition of Access Point 3 in Greenville, South Carolina for approximately $21.1 million. This recently constructed 299,000 square foot building is currently in the lease-up phase of the development and value-add portfolio. Also subsequent to June 30, 2022, EastGroup closed on the acquisition of two land parcels. One site is 17.8 acres of undeveloped land in San Antonio. This parcel was acquired for approximately $4.8 million and will accommodate the future development of three buildings containing approximately 225,000 square feet. The other site is 33.2 acres located in Greenville and was acquired for approximately $1.2 million. The Company has future plans to construct a building containing approximately 200,000 square feet on this site. In July 2022, the Company agreed to terms with a bank on a $50 million senior unsecured term loan with interest-only payments, bearing interest at the annual rate of SOFR plus an applicable margin based on the Company’s senior unsecured long-term debt rating and consolidated leverage ratio. The loan is expected to close in the third quarter of 2022 and have a 2-year term. The Company also entered into an interest rate swap agreement to convert the loan’s SOFR rate component to a fixed interest rate for the entire term of the loan, providing a total effective fixed interest rate of 4.09%. Also in July 2022, the Company and a group of lenders agreed to terms on the private placement of two senior unsecured notes totaling $150 million. One note for $75 million has an 11-year term and a fixed interest rate of 4.90% with semi-annual interest-only payments. The other $75 million note has a 12-year term and a fixed interest rate of 4.95% with semi-annual interest-only payments. The notes are expected to be issued and sold in October 2022. 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.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
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, 2022 and December 31, 2021, 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 year ended December 31, 2021, EastGroup began construction of Speed Distribution Center, a 519,000 square foot building on the Otay Mesa land, which was completed and transferred to the Company’s operating portfolio during the three months ended March 31, 2022. As of June 30, 2022 and December 31, 2021, 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	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.
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, 2022. As of December 31, 2021, the Company owned one operating property that was classified as held for sale on the December 31, 2021 Consolidated Balance Sheet. The property was sold, and a gain on the sale was recorded in the three months ended March 31, 2022. In accordance with ASC 360 and ASC 205, Presentation of Financial Statements
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. Criteria considered in grouping similar assets include geographic location, market and operational risks and the physical characteristics of the assets. EastGroup determined that its real estate property acquisitions in 2021 and the first six months of 2022 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 2021 and 2022 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. 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 lease intangibles 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. Factors considered by management in the allocation include an estimate of foregone rents and avoided leasing costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. 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 plans. ASC 718 requires that the compensation cost relating to share-based payment transactions be recognized in the financial statements and that the cost be measured on the fair value of the equity or liability instruments issued. The cost for market-based awards and awards that only require service are expensed on a straight-line basis over the requisite service periods. The cost for performance-based awards is determined 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. This method accelerates the expensing of the award compared to the straight-line method. For awards with a performance condition, compensation expense is recognized when the performance condition is considered probable of achievement. The total compensation expense for service and performance based awards is based upon the fair market value of the shares on the grant date. The grant date fair value for awards that have been granted and are subject to a future market condition (total shareholder return) are determined using a Monte Carlo simulation pricing model developed to specifically accommodate the unique features of the awards. During the restricted period for awards no longer subject to contingencies, the Company accrues dividends and holds the certificates for the shares; however, the employee can vote the shares. Share certificates and dividends are delivered to the employee as they vest. Forfeitures of awards are recognized as they occur. 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 vesting periods of the Company’s restricted stock plans vary, as determined by the Committee. Restricted stock is granted to executive officers subject to both continued service and the satisfaction of certain annual performance goals and multi-year market conditions as determined by the Committee. The long-term compensation awards include components based on the Company’s total shareholder return over the upcoming three 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 2022 are: (i) funds from operations (“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 (34% vests at the end of the one one 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 total compensation expense is based upon the fair market value of the shares on the grant date. 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 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).
Real Estate Properties	REAL ESTATE PROPERTIES EastGroup has one reportable segment – industrial properties, consistent with the Company’s manner of internal reporting, measurement of operating results and allocation of the Company’s resources. 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, 2022 and 2021, 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 $30,715,000 and $60,107,000 for the three and six months ended June 30, 2022, respectively, and $25,858,000 and $51,005,000 for the same periods in 2021.
Development	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).
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 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. Although COVID-19 has had an overall minimal impact on the Company in 2020, 2021 and during the first six months of 2022, EastGroup remains unable to predict any future impact that it may have on its business, financial condition, results of operations and cash flows.
New Accounting Pronouncements, Policy	RECENT ACCOUNTING PRONOUNCEMENTS EastGroup has evaluated all ASUs recently released by the FASB through the date the financial statements were issued and determined that ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting
Derivatives, Policy	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.

LEASE REVENUE (Tables)

LEASE REVENUE (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 and 2021: Three Months Ended Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Lease income — operating leases $ 88,931 74,358 173,876 147,740 Variable lease income (1) 29,567 25,204 57,574 49,739 Income from real estate operations $ 118,498 99,562 231,450 197,479 (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, 2022
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, 2022 and December 31, 2021 were as follows: June 30, December 31, (In thousands) Real estate properties: Land $ 689,195 544,505 Buildings and building improvements 2,840,948 2,408,944 Tenant and other improvements 605,251 570,627 Right of use assets — Ground leases (operating) (1) 20,119 22,635 Development and value-add properties (2) 554,363 504,614 4,709,876 4,051,325 Less accumulated depreciation (1,089,156) (1,035,617) $ 3,620,720 3,015,708 (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, 2022	Dec. 31, 2021
Asset Acquisition [Abstract]
Real Estate Properties Acquired [Table]	During the six months ended June 30, 2022, EastGroup acquired the following properties: REAL ESTATE PROPERTIES ACQUIRED IN 2022 Location Size Date Cost (1) (Square feet) (In thousands) Operating properties acquired (2) Cebrian Distribution Center and Reed Distribution Center (3) Sacramento, CA 329,000 06/01/2022 $ 49,726 6 th Street Business Center, Benicia Distribution Center 1-5, Ettie Business Center, Laura Alice Business Center, Preston Distribution Center, Sinclair Distribution Center, Transit Distribution Center and Whipple Business Center (3) San Francisco, CA 1,377,000 06/01/2022 309,404 Total operating property acquisitions 1,706,000 359,130 Value-add properties acquired (4) Cypress Preserve 1 & 2 Houston, TX 516,000 03/28/2022 54,462 Zephyr Distribution Center San Francisco, CA 82,000 04/08/2022 29,017 Mesa Gateway Commerce Center Phoenix, AZ 147,000 04/15/2022 18,315 Total value-add property acquisitions 745,000 101,794 Total acquired assets 2,451,000 $ 460,924 (1) Cost is calculated in accordance with FASB ASC 805, Business Combinations, and represents the sum of the purchase price, closing costs and capitalized acquisition costs. (2) 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. (3) The Company acquired these operating properties along with two land parcels, also in Sacramento, CA and San Francisco, CA, in connection with its acquisition of Tulloch Corporation in June 2022. Size and cost are presented on an aggregate basis for the properties located in Sacramento, CA and San Francisco, CA, respectively. In consideration for this acquisition, the Company assumed a $60,000,000 loan and issued 1,868,809 shares of the Company’s common stock. The acquisition date fair value of the loan assumed was $60,000,000, and the acquisition date fair value of the common shares, which was based on the closing share price on the acquisition date, was $303,756,000.	During 2021, EastGroup acquired the following properties: REAL ESTATE PROPERTIES ACQUIRED IN 2021 Location Size Date Cost (1) (Square feet) (In thousands) Operating properties acquired (2) Southpark Distribution Center 2 Phoenix, AZ 79,000 06/10/2021 $ 9,177 DFW Global Logistics Centre Dallas, TX 611,000 08/26/2021 89,829 Progress Center 3 Atlanta, GA 50,000 09/23/2021 5,000 Texas Avenue Austin, TX 20,000 10/15/2021 4,143 Total operating property acquisitions 760,000 108,149 Value-add properties acquired (3) 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 Siempre Viva Distribution Center 3-6 San Diego, CA 547,000 12/01/2021 134,479 Total value-add property acquisitions 1,046,000 171,076 Total acquired assets 1,806,000 $ 279,225 (1) Represents the sum of the purchase price, closing costs and capitalized acquisition costs. (2) 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. (3) 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 total consideration for the acquired assets and assumed liabilities in connection with the acquisition identified in the table above which was acquired during the six months ended June 30, 2022. ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2022 Cost (In thousands) Land $ 126,067 Buildings and building improvements 315,996 Tenant and other improvements 11,502 Total real estate properties acquired 453,565 In-place lease intangibles (1) 11,418 Below market lease intangibles (2) (4,059) Total assets acquired, net of liabilities assumed $ 460,924 (1) In-place lease intangibles and above market lease intangibles 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 total consideration 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, 2021. ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2021 Cost (In thousands) Land $ 42,554 Buildings and building improvements 225,645 Tenant and other improvements 4,907 Right of use assets — Ground leases (operating) 12,708 Total real estate properties acquired 285,814 In-place lease intangibles (1) 9,949 Above market lease intangibles (1) 6 Below market lease intangibles (2) (3,836) Operating lease liabilities — Ground leases (3) (12,708) Total assets acquired, net of liabilities assumed $ 279,225 (1) In-place lease intangibles and above market lease intangibles 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 lease intangibles 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.

REAL ESTATE SOLD AND HELD FOR_2

REAL ESTATE SOLD AND HELD FOR SALE DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jun. 30, 2022
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Real estate properties sold [Table]	A summary of Gain on sales of real estate investments for the six months ended June 30, 2022 and the year ended December 31, 2021 follows: REAL ESTATE PROPERTIES SOLD Location Size Date Sold Net Sales Price Basis Recognized Gain (In square feet) (In thousands) 2022 Metro Business Park Phoenix, AZ 189,000 01/06/2022 $ 32,851 5,880 26,971 Cypress Creek Business Park (1) Fort Lauderdale, FL 56,000 03/31/2022 5,282 1,901 3,381 World Houston 15 East Houston, TX 42,000 05/11/2022 12,873 2,226 10,647 Total for 2022 287,000 $ 51,006 10,007 40,999 2021 Jetport Commerce Park Tampa, FL 284,000 11/09/2021 $ 44,260 5,401 38,859

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Other Assets [Abstract]
Other Assets	A summary of the Company’s Other assets follows: June 30, December 31, (In thousands) Leasing costs (principally commissions) $ 130,445 116,772 Accumulated amortization of leasing costs (45,555) (42,193) Leasing costs (principally commissions), net of accumulated amortization 84,890 74,579 Acquired in-place lease intangibles 39,992 31,561 Accumulated amortization of acquired in-place lease intangibles (14,714) (13,038) Acquired in-place lease intangibles, net of accumulated amortization 25,278 18,523 Acquired above market lease intangibles 840 885 Accumulated amortization of acquired above market lease intangibles (532) (508) Acquired above market lease intangibles, net of accumulated amortization 308 377 Straight-line rents receivable 55,648 51,970 Accounts receivable 4,206 7,133 Interest rate swap assets 24,912 2,237 Right of use assets — Office leases (operating) 2,140 1,984 Escrow deposits for pending acquisitions 4,450 3,050 Prepaid insurance 5,930 7,793 Goodwill 990 990 Receivable for tenant improvement cost reimbursements 566 7,680 Prepaid expenses and other assets 8,748 5,904 Total Other assets $ 218,066 182,220

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
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 $ 206,419 209,210 Unamortized debt issuance costs (1,846) (2,144) Unsecured bank credit facilities, net of debt issuance costs 204,573 207,066 Unsecured debt - fixed rate, carrying amount (1) 1,420,000 1,245,000 Unamortized debt issuance costs (3,124) (2,430) Unsecured debt, net of debt issuance costs 1,416,876 1,242,570 Secured debt - fixed rate, carrying amount (1) 2,099 2,156 Unamortized debt issuance costs (12) (14) Secured debt, net of debt issuance costs 2,087 2,142 Total debt, net of debt issuance costs $ 1,623,536 1,451,778 (1) These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps.
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, 2022, are as follows: Years Ending December 31, (In thousands) 2022 - Remainder of year $ 58 2023 115,119 2024 120,122 2025 145,128 2026 141,672 2027 and beyond 900,000 Total $ 1,422,099

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2022
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 $ 35,603 4,494 Development costs payable 27,699 17,529 Retainage payable 16,468 10,576 Real estate improvements and capitalized leasing costs payable 7,630 5,798 Interest payable 7,619 6,547 Dividends payable 49,064 46,864 Book overdraft (1) 3,035 4,845 Other payables and accrued expenses 9,090 13,107 Total Accounts payable and accrued expenses $ 156,208 109,760 (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, 2022
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 $ 33,220 28,343 Prepaid rent and other deferred income 15,902 16,401 Operating lease liabilities — Ground leases 20,509 22,898 Operating lease liabilities — Office leases 2,190 2,032 Acquired below market lease intangibles 11,043 8,124 Accumulated amortization of below market lease intangibles (2,988) (2,707) Acquired below market lease intangibles, net of accumulated amortization 8,055 5,417 Interest rate swap liabilities 941 935 Tenant improvement cost liabilities 1,566 2,796 Other liabilities 3,516 3,516 Total Other liabilities $ 85,899 82,338

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 2021 2022 2021 (In thousands) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS): Balance at beginning of period $ 17,130 (2,538) 1,302 (10,752) Other comprehensive income (loss) - interest rate swaps 6,841 (1,263) 22,669 6,951 Balance at end of period $ 23,971 (3,801) 23,971 (3,801)

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2022
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]
Schedule of Derivative Instruments [Table Text Block]	As of June 30, 2022 and December 31, 2021, 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, 2022 Notional Amount as of December 31, 2021 (In thousands) Interest Rate Swap — $75,000 Interest Rate Swap $65,000 $65,000 Interest Rate Swap $100,000 $100,000 Interest Rate Swap $100,000 $100,000 Interest Rate Swap $50,000 $50,000 Interest Rate Swap $100,000 — Interest Rate Swap $75,000 —
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, 2022 and December 31, 2021. See Note 17 for additional information on the fair value of the Company’s interest rate swaps. Derivatives As of June 30, 2022 Derivatives As of December 31, 2021 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as cash flow hedges: Interest rate swap assets Other assets $ 24,912 Other assets $ 2,237 Interest rate swap liabilities Other liabilities 941 Other liabilities 935
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, 2022 and 2021: Three Months Ended Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS Interest Rate Swaps: Amount of income (loss) recognized in Other comprehensive income (loss) on derivatives $ 6,403 (2,395) 21,355 4,768 Amount of loss reclassified from Accumulated other comprehensive income (loss) into Interest expense 438 1,132 1,314 2,183

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 2022 2021 (In thousands) BASIC EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 46,139 27,558 109,719 54,897 Denominator – weighted average shares outstanding 42,211 40,068 41,729 39,871 DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Numerator – net income attributable to common stockholders $ 46,139 27,558 109,719 54,897 Denominator: Weighted average shares outstanding 42,211 40,068 41,729 39,871 Unvested restricted stock 105 97 109 94 Weighted average diluted shares outstanding 42,316 40,165 41,838 39,965

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022, the Company withheld 34,251 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, 2022 was $9,560,000. As of the vesting dates, the aggregate fair value of shares that vested during the six months ended June 30, 2022 was $17,124,000. Award Activity: Three Months Ended Six Months Ended June 30, 2022 Shares Weighted Average Grant Date Fair Value Weighted Average Grant Date Fair Value Unvested at beginning of period 85,767 $ 129.68 106,212 $ 116.38 Granted (1) (2) 16,793 151.68 76,913 124.30 Forfeited — — — — Vested — — (80,565) 102.42 Unvested at end of period 102,560 $ 133.28 102,560 $ 133.28 (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, 2022
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, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Carrying Amount (1) Fair Value Carrying Amount (1) Fair Value (In thousands) Financial Assets: Cash and cash equivalents $ 5,555 5,555 4,393 4,393 Interest rate swap assets 24,912 24,912 2,237 2,237 Financial Liabilities: Unsecured bank credit facilities - variable rate (2) 206,419 203,888 209,210 209,202 Unsecured debt (2) 1,420,000 1,333,855 1,245,000 1,267,702 Secured debt (2) 2,099 2,040 2,156 2,269 Interest rate swap liabilities 941 941 935 935 (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 and SOFR 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 and SOFR 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, 2022 a ft² Integer	Dec. 31, 2021 ft² a Integer
Controlling interest joint ventures and equity method investees [Line Items]
Number of joint venture arrangements | Integer	2	2
Percentage recorded of assets, liabilities, revenues, and expenses of the buildings and land held in joint ventures	100%	100%
Speed Distribution Center
Controlling interest joint ventures and equity method investees [Line Items]
Area of real estate property | ft²	519,000	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%	50%
Controlling Interest Joint Ventures [Domain] | Miramar Land [Member]
Controlling interest joint ventures and equity method investees [Line Items]
Acres of real estate investment property	6.5	6.5
Less than wholly owned joint venture, investment ownership percentage	95%	95%
Controlling Interest Joint Ventures [Domain] | Otay Mesa Land [Member]
Controlling interest joint ventures and equity method investees [Line Items]
Acres of real estate investment property	41.6	41.6
Less than wholly owned joint venture, investment ownership percentage	99%	99%

LEASE REVENUE (Details)

LEASE REVENUE (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lease Revenue [Line Items]
Lease income - operating leases		$ 88,931	$ 74,358	$ 173,876	$ 147,740
Variable lease income	[1]	29,567	25,204	57,574	49,739
Income from real estate operations		$ 118,498	$ 99,562	$ 231,450	$ 197,479
[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
		Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Integer	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Real Estate Properties [Line Items]
Number of Reporting Units | Integer				1
Depreciation Expense During the Period		$ 30,715,000	$ 25,858,000	$ 60,107,000	$ 51,005,000
Maximum occupancy at acquisition date that defines an investment property as value-add				75%
Minimum percentage of acquisition cost used in redevelopment costs that defines an investment property as value-add				20%
Real Estate Properties
Land		689,195,000		$ 689,195,000		$ 544,505,000
Building and building improvements		2,840,948,000		2,840,948,000		2,408,944,000
Tenant and other improvements		605,251,000		605,251,000		570,627,000
Right of use assets - Ground leases (operating)	[1]	20,119,000		20,119,000		22,635,000
Development and value-add properties	[2]	554,363,000		554,363,000		504,614,000
Real estate, development and value-add properties		4,709,876,000		4,709,876,000		4,051,325,000
Less accumulated depreciation		(1,089,156,000)		(1,089,156,000)		(1,035,617,000)
Real estate, net		$ 3,620,720,000		$ 3,620,720,000		$ 3,015,708,000
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, 2022
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%
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%
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%
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, 2022 USD ($) ft² a	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) ft² a Integer shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) ft² a
Property Acquisition [Line Items]
Amortization expense for lease intangibles		$ 2,198,000	$ 1,307,000	$ 4,663,000	$ 2,738,000
Above and below market lease intangibles incremental increase to rental Income		507,000	$ 245,000	$ 1,352,000	474,000
Maximum occupancy at acquisition date that defines an investment property as value-add				75%
Minimum percentage of acquisition cost used in redevelopment costs that defines an investment property as value-add				20%
Land		689,195,000		$ 689,195,000		$ 544,505,000
Building and building improvements		2,840,948,000		2,840,948,000		2,408,944,000
Tenant and other improvements		605,251,000		605,251,000		570,627,000
Right of use assets - Ground leases (operating)	[1]	$ 20,119,000		20,119,000		$ 22,635,000
Debt assumed in the purchase of real estate				$ 60,000,000	$ 0
2022 operating property acquisitions
Property Acquisition [Line Items]
Size (square feet) | ft²	[2]	1,706,000		1,706,000
Cost of property acquired	[2],[3]	$ 359,130,000		$ 359,130,000
2022 operating property acquisitions | Cebrian Distribution Center and Reed Distribution Center
Property Acquisition [Line Items]
Size (square feet) | ft²	[2],[4]	329,000		329,000
Date Acquired	[2],[4]			Jun. 01, 2022
Cost of property acquired	[2],[3],[4]	$ 49,726,000		$ 49,726,000
2022 operating property acquisitions | 6th Street Bus Cntr, Benicia Distrib Cntr 1-5, Ettie Bus Cntr, Laura Alice Bus Cntr, Preston Distrb Cntr, Sinclair Distrib Cntr, Transit Distrb Cntr and Whipple Bus Cntr
Property Acquisition [Line Items]
Size (square feet) | ft²	[2],[4]	1,377,000		1,377,000
Date Acquired	[2],[4]			Jun. 01, 2022
Cost of property acquired	[2],[3],[4]	$ 309,404,000		$ 309,404,000
2022 Value-Add Property Acquisitions
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]	745,000		745,000
Cost of property acquired	[3],[5]	$ 101,794,000		$ 101,794,000
2022 Value-Add Property Acquisitions | Cypress Preserve 1 & 2
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]	516,000		516,000
Date Acquired	[5]			Mar. 28, 2022
Cost of property acquired	[3],[5]	$ 54,462,000		$ 54,462,000
2022 Value-Add Property Acquisitions | Zephyr Distribution Center
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]	82,000		82,000
Date Acquired	[5]			Apr. 08, 2022
Cost of property acquired	[3],[5]	$ 29,017,000		$ 29,017,000
2022 Value-Add Property Acquisitions | Mesa Gateway Commerce Park
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]	147,000		147,000
Date Acquired	[5]			Apr. 15, 2022
Cost of property acquired	[3],[5]	$ 18,315,000		$ 18,315,000
2022 Acquisitions
Property Acquisition [Line Items]
Size (square feet) | ft²		2,451,000		2,451,000
Cost of property acquired	[3]	$ 460,924,000		$ 460,924,000
Land		126,067,000		126,067,000
Building and building improvements		315,996,000		315,996,000
Tenant and other improvements		11,502,000		11,502,000
Total real estate properties acquired		453,565,000		453,565,000
Assets acquired, net of liabilities assumed		$ 460,924,000		$ 460,924,000
Weighted average remaining lease term of acquired properties		3 years 8 months 12 days		3 years 8 months 12 days
2022 Acquisitions | Leases, Acquired-in-Place [Member]
Property Acquisition [Line Items]
Lease intangibles	[6]	$ 11,418,000		$ 11,418,000
2022 Acquisitions | Below market lease [Member]
Property Acquisition [Line Items]
Lease intangibles	[7]	(4,059,000)		(4,059,000)
2022 Acquisitions | Tulloch Corporation
Property Acquisition [Line Items]
Debt assumed in the purchase of real estate				$ 60,000,000
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Common Shares Issued | shares				1,868,809
Fair value of loans ssumed, asset acquisition				$ 60,000,000
Other Significant Noncash Transaction, Fair Value of Consideration Given, Common Shares Issued				$ 303,756,000
Number of land parcels acquired | Integer				2
2021 operating property acquisitions
Property Acquisition [Line Items]
Size (square feet) | ft²	[2]					760,000
Cost of property acquired	[2],[3]					$ 108,149,000
2021 operating property acquisitions | Southpark Distribution Center 2
Property Acquisition [Line Items]
Size (square feet) | ft²	[2]					79,000
Date Acquired	[2]					Jun. 10, 2021
Cost of property acquired	[2],[3]					$ 9,177,000
2021 operating property acquisitions | DFW Global Logistics Centre
Property Acquisition [Line Items]
Size (square feet) | ft²	[2]					611,000
Date Acquired	[2]					Aug. 26, 2021
Cost of property acquired	[2],[3]					$ 89,829,000
2021 operating property acquisitions | Progress Center 3
Property Acquisition [Line Items]
Size (square feet) | ft²	[2]					50,000
Date Acquired	[2]					Sep. 23, 2021
Cost of property acquired	[2],[3]					$ 5,000,000
2021 operating property acquisitions | Texas Avenue [Member]
Property Acquisition [Line Items]
Size (square feet) | ft²	[2]					20,000
Date Acquired	[2]					Oct. 15, 2021
Cost of property acquired	[2],[3]					$ 4,143,000
2021 Value-add Property Acquisitions
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]					1,046,000
Cost of property acquired	[3],[5]					$ 171,076,000
2021 Value-add Property Acquisitions | Access Point 1
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]					156,000
Date Acquired	[5]					Jan. 15, 2021
Cost of property acquired	[3],[5]					$ 10,501,000
2021 Value-add Property Acquisitions | Northpoint 200
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]					79,000
Date Acquired	[5]					Jan. 21, 2021
Cost of property acquired	[3],[5]					$ 6,516,000
2021 Value-add Property Acquisitions | Access Point 2
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]					159,000
Date Acquired	[5]					May 19, 2021
Cost of property acquired	[3],[5]					$ 10,743,000
2021 Value-add Property Acquisitions | Cherokee 75 Business Center 2
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]					105,000
Date Acquired	[5]					Jun. 17, 2021
Cost of property acquired	[3],[5]					$ 8,837,000
2021 Value-add Property Acquisitions | Siempre Viva Distribution Center 3-6
Property Acquisition [Line Items]
Size (square feet) | ft²	[5]					547,000
Date Acquired	[5]					Dec. 01, 2021
Cost of property acquired	[3],[5]					$ 134,479,000
2021 Acquisitions
Property Acquisition [Line Items]
Size (square feet) | ft²						1,806,000
Cost of property acquired	[3]					$ 279,225,000
Land						42,554,000
Building and building improvements						225,645,000
Tenant and other improvements						4,907,000
Right of use assets - Ground leases (operating)						12,708,000
Total real estate properties acquired						285,814,000
Operating lease liabilities - Ground leases	[8]					(12,708,000)
Assets acquired, net of liabilities assumed						$ 279,225,000
Weighted average remaining lease term of acquired properties						2 years 10 months 24 days
2021 Acquisitions | Leases, Acquired-in-Place [Member]
Property Acquisition [Line Items]
Lease intangibles	[6]					$ 9,949,000
2021 Acquisitions | Above Market Leases [Member]
Property Acquisition [Line Items]
Lease intangibles	[6]					6,000
2021 Acquisitions | Below market lease [Member]
Property Acquisition [Line Items]
Lease intangibles	[7]					(3,836,000)
2021 development land acquisitions
Property Acquisition [Line Items]
Cost of property acquired						$ 41,065,000
Acres of real estate investment property | a						365.8
2022 development land acquisitions
Property Acquisition [Line Items]
Cost of property acquired		$ 54,751,000		$ 54,751,000
Acres of real estate investment property | a		177.5		177.5
[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]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.[3]epresents the sum of the purchase price, closing costs and capitalized acquisition costs.[4]The Company acquired these operating properties along with two land parcels, also in Sacramento, CA and San Francisco, CA, in connection with its acquisition of Tulloch Corporation in June 2022. Size and cost are presented on an aggregate basis for the properties located in Sacramento, CA and San Francisco, CA, respectively. In consideration for this acquisition, the Company assumed a $60,000,000 loan and issued 1,868,809 shares of the Company’s common stock. The acquisition date fair value of the loan assumed was $60,000,000, and the acquisition date fair value of the common shares, which was based on the closing share price on the acquisition date, was $303,756,000.[5]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.[6]In-place lease intangibles and above market lease intangibles 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.[7]Below market lease intangibles 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.[8]Operating lease liabilities - Ground leases are included in Other liabilities on the Consolidated Balance Sheets.

REAL ESTATE SOLD AND HELD FOR_3

REAL ESTATE SOLD AND HELD FOR SALE DISCONTINUED OPERATIONS (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) ft²	Dec. 31, 2021 USD ($) ft² Integer
Real Estate Properties Sold and Held for Sale [Line Items]
Right of use liability, ground lease	$ 20,509	$ 22,898
Real estate held-for-sale
Real Estate Properties Sold and Held for Sale [Line Items]
Number of Real Estate Properties | Integer		1
2022 dispositions
Real Estate Properties Sold and Held for Sale [Line Items]
Size (square feet) | ft²	287,000
Net sales price	$ 51,006
Basis	10,007
Recognized gain	$ 40,999
Metro Business Park | 2022 dispositions
Real Estate Properties Sold and Held for Sale [Line Items]
Size (square feet) | ft²	189,000
Date sold	Jan. 06, 2022
Net sales price	$ 32,851
Basis	5,880
Recognized gain	$ 26,971
Cypress Creek Business Park | 2022 dispositions
Real Estate Properties Sold and Held for Sale [Line Items]
Size (square feet) | ft²	56,000
Date sold	Mar. 31, 2022
Net sales price	$ 5,282
Basis	1,901
Recognized gain	3,381
Right of use asset, ground lease	1,745
Right of use liability, ground lease	$ 1,745
World Houston 15 East | 2022 dispositions
Real Estate Properties Sold and Held for Sale [Line Items]
Size (square feet) | ft²	42,000
Date sold	May 11, 2022
Net sales price	$ 12,873
Basis	2,226
Recognized gain	$ 10,647
Jetport Commerce Park | 2021 dispositions
Real Estate Properties Sold and Held for Sale [Line Items]
Size (square feet) | ft²		284,000
Date sold		Nov. 09, 2021
Net sales price		$ 44,260
Basis		5,401
Recognized gain		$ 38,859

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other Assets Components [Abstract]
Leasing costs (principally commissions)	$ 130,445	$ 116,772
Accumulated amortization of leasing costs	(45,555)	(42,193)
Leasing costs (principally commissions), net of accumulated amortization	84,890	74,579
Acquired in-place lease intangibles	39,992	31,561
Accumulated amortization of acquired in-place lease intangibles	(14,714)	(13,038)
Acquired in-place lease intangibles, net of accumulated amortization	25,278	18,523
Acquired above market lease intangibles	840	885
Accumulated amortization of acquired above market lease intangibles	(532)	(508)
Acquired above market lease intangibles, net of accumulated amortization	308	377
Straight-line rents receivable	55,648	51,970
Accounts receivable	4,206	7,133
Interest rate swap assets	24,912	2,237
Right of use assets - Office leases (operating)	2,140	1,984
Escrow deposits for pending acquisitions	4,450	3,050
Prepaid Insurance	5,930	7,793
Goodwill	990	990
Receivable for tenant improvement cost reimbursements	566	7,680
Prepaid expenses and other assets	8,748	5,904
Total Other Assets	$ 218,066	$ 182,220

DEBT (Details)

DEBT (Details)		6 Months Ended
		Jun. 30, 2022 USD ($) basisPoints Integer	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Secured and Unsecured Debt [Line Items]
Moody's Credit Rating		Baa2
Unsecured bank credit facilities		$ 204,573,000		$ 207,066,000
Secured Debt		2,087,000		2,142,000
Unsecured Debt		1,416,876,000		1,242,570,000
Total debt		1,623,536,000		1,451,778,000
Debt assumed in the purchase of real estate, repaid promptly during the quarter with no penalty		60,000,000	$ 0
2022 Acquisitions | Tulloch Corporation
Secured and Unsecured Debt [Line Items]
Debt assumed in the purchase of real estate, repaid promptly during the quarter with no penalty		$ 60,000,000
2022 operating property acquisitions | Tulloch Corporation
Payments of principal over future years [Abstract]
Number of Businesses Acquired | Integer		14
2022 development land acquisitions | Tulloch Corporation
Payments of principal over future years [Abstract]
Number of land parcels acquired | Integer		2
Secured and unsecured debt, net of debt issuance costs [Member]
Payments of principal over future years [Abstract]
2022 - Remainder of year		$ 58,000
2023		115,119,000
2024		120,122,000
2025		145,128,000
2026		141,672,000
2027 and beyond		900,000,000
Total		$ 1,422,099,000
$75 million unsecured term loan (repaid in 2022) [Member]
Secured and Unsecured Debt [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		3.03%
Unsecured debt, carrying amount repaid		$ 75,000,000
$100 million senior unsecured term loan (refinanced in 2022)
Secured and Unsecured Debt [Line Items]
Basis point reduction in credit spread | basisPoints		60
Debt instrument, basis spread above variable rate | basisPoints		85
Debt Instrument, Term		5 years
Fixed interest rate		1.80%
Unsecured debt, carrying amount		$ 100,000,000
$100 million senior unsecured term loan (new in 2022)
Secured and Unsecured Debt [Line Items]
Debt Instrument, Term		6 years 6 months
Debt Instrument, Interest Rate, Effective Percentage		3.06%
Debt Instrument, Basis Spread on Variable Rate		1.30%
Unsecured debt, carrying amount		$ 100,000,000
$150 million senior unsecured note (2022)
Secured and Unsecured Debt [Line Items]
Debt Instrument, Term		10 years
Debt Instrument, Interest Rate, Effective Percentage		3.03%
Unsecured debt, carrying amount		$ 150,000,000
$75 million senior unsecured term loan (new in 2022)
Secured and Unsecured Debt [Line Items]
Debt Instrument, Term		5 years
Debt Instrument, Interest Rate, Effective Percentage		4%
Unsecured debt, carrying amount		$ 75,000,000
Unsecured bank credit facilities
Secured and Unsecured Debt [Line Items]
Unsecured bank credit facilities - variable rate, carrying amount		206,419,000		209,210,000
Unsecured bank credit facilities		204,573,000		207,066,000
Unamortized debt issuance costs		(1,846,000)		(2,144,000)
Unsecured Debt [Member]
Secured and Unsecured Debt [Line Items]
Unamortized debt issuance costs		(3,124,000)		(2,430,000)
Unsecured debt, carrying amount	[1]	1,420,000,000		1,245,000,000
Unsecured Debt		1,416,876,000		1,242,570,000
Secured Debt [Member]
Secured and Unsecured Debt [Line Items]
Secured debt-fixed rate, carrying amount	[1]	2,099,000		2,156,000
Secured Debt		2,087,000		2,142,000
Unamortized debt issuance costs		$ (12,000)		$ (14,000)
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 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		2.058%
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 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
Unsecured bank credit facilities - variable rate, carrying amount		$ 170,000,000
Nine bank group unsecured revolving credit facility [Member] | Bank credit facilities obtained in 2021 - $425 and $50 million
Secured and Unsecured Debt [Line Items]
Sustainability performance linked basis point reduction (in basis points)		1
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 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		2.562%
Line of Credit Facility, Borrowing Capacity		$ 50,000,000
Debt instrument, basis spread above 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
Unsecured bank credit facilities - variable rate, carrying amount		$ 36,419,000
[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, 2022	Dec. 31, 2021
Accounts Payable and Accrued Expenses [Abstract]
Property taxes payable		$ 35,603	$ 4,494
Development costs payable		27,699	17,529
Retainage payable		16,468	10,576
Real estate improvements and capitalized leasing costs payable		7,630	5,798
Interest payable		7,619	6,547
Dividends payable		49,064	46,864
Book Overdraft	[1]	3,035	4,845
Other payables and accrued expenses		9,090	13,107
Total accounts payable and accrued expenses		$ 156,208	$ 109,760
[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, 2022	Dec. 31, 2021
Other Liabilities, Unclassified [Abstract]
Security deposits	$ 33,220	$ 28,343
Prepaid rent and other deferred income	15,902	16,401
Operating lease liabilities - Ground leases	20,509	22,898
Operating lease liabilities - Office leases	2,190	2,032
Acquired below market lease intangibles	11,043	8,124
Accumulated amortization of acquired below market lease intangibles	(2,988)	(2,707)
Acquired below market lease intangibles, net of accumulated amortization	8,055	5,417
Interest rate swap liabilities	941	935
Tenant improvement cost liabilities	1,566	2,796
Other liabilities	3,516	3,516
Total Other Liabilities	$ 85,899	$ 82,338

COMPREHENSIVE INCOME (Details)

COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
COMPREHENSIVE INCOME [Abstract]
Balance at Beginning of Period	$ 17,130	$ 1,302	$ (2,538)	$ (10,752)	$ 1,302	$ (10,752)
Other comprehensive income (loss) - interest rate swaps	6,841	15,828	(1,263)	8,214	22,669	6,951
Balance at End of Period	$ 23,971	$ 17,130	$ (3,801)	$ (2,538)	$ 23,971	$ (3,801)

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) Integer	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Integer	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Derivative [Line Items]
Number of interest rate swaps | Integer	6		6
Remaining loans indexed to LIBOR | Integer			3
Interest Rate Cash Flow Hedge Assets at Fair Value	$ 24,912,000		$ 24,912,000		$ 2,237,000
Interest rate cash flow hedge liabilities at fair value	941,000		941,000		935,000
Swap termination value	24,268,000		$ 24,268,000
New debt instruments indexed to SOFR | Integer			2
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Cash flow hedge amount to be reclassified to Interest Expense in next 12 months	7,416,000		$ 7,416,000
Amount of income (loss) recognized in Other comprehensive income on derivatives	6,403,000	$ (2,395,000)	21,355,000	$ 4,768,000
Amount of (income) loss reclassified from Accumulated other comprehensive income into interest expense	438,000	$ 1,132,000	1,314,000	$ 2,183,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivative [Line Items]
Interest Rate Cash Flow Hedge Assets at Fair Value	24,912,000		24,912,000		2,237,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Interest rate cash flow hedge liabilities at fair value	941,000		941,000		935,000
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	0		0		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] | $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		50,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $100 million interest rate swap executed in 2022
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	100,000,000		100,000,000		0
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | $75 million interest rate swap executed in 2022
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	$ 75,000,000		$ 75,000,000		$ 0

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
BASIC EPS COMPUTATION FOR NET INCOME AVAILABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS [Abstract]
Net income attributable to common stockholders	$ 46,139	$ 27,558	$ 109,719	$ 54,897
Weighted average shares outstanding (in shares)	42,211	40,068	41,729	39,871
DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS
Net Income Available to Common Stockholders	$ 46,139	$ 27,558	$ 109,719	$ 54,897
Weighted average shares outstanding (in shares)	42,211	40,068	41,729	39,871
Unvested restricted stock	105	97	109	94
Weighted average diluted shares outstanding	42,316	40,165	41,838	39,965

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)		3 Months Ended				6 Months Ended
		Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ (3,062,000)	$ (2,594,000)	$ (2,893,000)	$ (2,147,000)
Shares withheld for tax obligations					30,252	34,251
Award Recipient Type Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 73,000		704,000		$ 106,000	$ 707,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested as of the vesting date						$ 17,124,000
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)						105,485
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		102,560	85,767			102,560		106,212
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in shares)		$ 133.28	$ 129.68			$ 133.28		$ 116.38
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	[1],[2]	16,793				76,913
Grant date fair value of shares issued (in dollars per share)	[1],[2]	$ 151.68				$ 124.30
Forfeited (in shares)		0				0
Forfeited (per share)		$ 0				$ 0
Vested (in shares)		0				(80,565)
Vested (per share)		$ 0				$ 102.42
Fair value of shares granted, as of the grant dates						$ 9,560,000
Restricted Stock [Member] | Award Recipient Type Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 2,989,000		2,189,000		5,550,000	4,333,000
Stock-based compensation costs capitalized as development costs		$ 645,000		$ 479,000		$ 1,336,000	$ 1,029,000
Company performance based award | Executive Officer [Member] | End of one-year performance period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						34%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						1 year
Company performance based award | Executive Officer [Member] | Each of the following two years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						33%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						2 years
Individual performance based award | Executive Officer [Member] | End of one-year performance period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						34%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						1 year
Individual performance based award | Executive Officer [Member] | Each of the following two years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						33%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						2 years
Total shareholder return | Executive Officer [Member] | Following year after performance period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						25%
Total shareholder return | Executive Officer [Member] | End of three-year performance period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						75%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						3 years
Continuing employement awards | Executive Officer [Member] | Each year of 4-year service period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						25%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						4 years
[1]Does not include the restricted shares that may be earned if the performance goals established in 2020 and 2021 for long-term performance and in 2022 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 105,485.[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, 2022	Dec. 31, 2021
Fair Value [Member]
Financial Assets [Abstract]
Cash and Cash Equivalents, Fair Value Disclosure		$ 5,555	$ 4,393
Interest rate swap assets		24,912	2,237
Financial Liabilities [Abstract]
Unsecured bank credit facilities - variable rate		203,888	209,202
Unsecured debt Fair Value Disclosure		1,333,855	1,267,702
Secured debt		2,040	2,269
Interest rate swap liabilities		941	935
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and Cash Equivalents, at Carrying Value	[1]	5,555	4,393
Interest rate swap assets	[1]	24,912	2,237
Financial Liabilities [Abstract]
Unsecured bank credit facilities - variable rate	[1]	206,419	209,210
Unsecured debt Fair Value Disclosure	[1]	1,420,000	1,245,000
Secured debt	[1]	2,099	2,156
Interest rate swap liabilities	[1]	$ 941	$ 935
[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 and SOFR 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 and SOFR 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.

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event [Member] $ in Thousands	1 Months Ended
	Jul. 27, 2022 USD ($) ft² a Integer
Subsequent Event [Line Items]
Number of land parcels acquired | Integer	2
$50 million senior unsecured term loan (new in 2022)
Subsequent Event [Line Items]
Debt Instrument, Face Amount	$ 50,000
Long-term Debt, Term	2 years
Debt Instrument, Interest Rate, Effective Percentage	4.09%
$150 million senior unsecured private placement notes (2022)
Subsequent Event [Line Items]
Number of notes in debt agreement | Integer	2
Debt Instrument, Face Amount	$ 150,000
$150 million senior unsecured private placement notes (2022) - 11 year term note
Subsequent Event [Line Items]
Debt Instrument, Face Amount	$ 75,000
Debt Instrument, Interest Rate, Stated Percentage	4.90%
Long-term Debt, Term	11 years
$150 million senior unsecured private placement notes (2022) - 12 year term note
Subsequent Event [Line Items]
Debt Instrument, Face Amount	$ 75,000
Debt Instrument, Interest Rate, Stated Percentage	4.95%
Long-term Debt, Term	12 years
Access Point 3
Subsequent Event [Line Items]
Area of real estate property | ft²	299,000
Payments to Acquire Real Estate	$ 21,100
Eisenhauer Point Land
Subsequent Event [Line Items]
Area of Land | a	17.8
Payments to Acquire Land	$ 4,800
Number of buildings to be developed | Integer	3
Area of buildings, to be developed | ft²	225,000
Hillside 2 Land
Subsequent Event [Line Items]
Area of Land | a	33.2
Payments to Acquire Land	$ 1,200
Area of buildings, to be developed | ft²	200,000