<ARTICLE> 5
<CIK> 0000049600
<NAME> EASTGROUP PROPERTIES
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                           8,291
<SECURITIES>                                     2,912
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         280,117
<DEPRECIATION>                                (25,801)
<TOTAL-ASSETS>                                 293,111
<CURRENT-LIABILITIES>                                0
<BONDS>                                        105,423
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        12,674
<OTHER-SE>                                     168,797
<TOTAL-LIABILITY-AND-EQUITY>                   293,111
<SALES>                                              0
<TOTAL-REVENUES>                                11,989
<CGS>                                                0
<TOTAL-COSTS>                                    3,332
<OTHER-EXPENSES>                                 5,682
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,436
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              3,087
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,087
<EPS-PRIMARY>                                      .26
<EPS-DILUTED>                                      .26