<ARTICLE> 5
<RESTATED> 
<CIK> 0000049600
<NAME> EASTGROUP PROPERTIES, INC.
<MULTIPLIER> 1,000
       
                                                  
<PERIOD-TYPE>                   YEAR                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1995
<PERIOD-START>                             JAN-01-1996             JAN-01-1995
<PERIOD-END>                               DEC-31-1996             DEC-31-1995
<CASH>                                             438                      26
<SECURITIES>                                       934                  10,787
<RECEIVABLES>                                        0                       0
<ALLOWANCES>                                         0                       0
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                                     0                       0
<PP&E>                                         284,484                 156,162
<DEPRECIATION>                                (23,562)                (19,206)
<TOTAL-ASSETS>                                 281,455                 157,955
<CURRENT-LIABILITIES>                                0                       0
<BONDS>                                        129,078                  71,562
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                        10,549                   6,348
<OTHER-SE>                                     134,777                  76,552
<TOTAL-LIABILITY-AND-EQUITY>                   281,455                 157,955
<SALES>                                              0                       0
<TOTAL-REVENUES>                                39,765                  30,264
<CGS>                                                0                       0
<TOTAL-COSTS>                                   13,262                  11,575
<OTHER-EXPENSES>                                19,344                  14,300
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                               8,930                   6,287
<INCOME-PRETAX>                                      0                       0
<INCOME-TAX>                                         0                       0
<INCOME-CONTINUING>                             12,509                   7,711
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                    12,509                   7,711
<EPS-PRIMARY>                                     1.44                    1.22
<EPS-DILUTED>                                     1.43                    1.21