<ARTICLE> 5
<CIK> 0000049600
<NAME> EASTGROUP PROPERTIES, INC.
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                             964
<SECURITIES>                                     4,441
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         579,658
<DEPRECIATION>                                (38,106)
<TOTAL-ASSETS>                                 568,919
<CURRENT-LIABILITIES>                                0
<BONDS>                                        256,904
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             2
<OTHER-SE>                                     301,819
<TOTAL-LIABILITY-AND-EQUITY>                   568,919
<SALES>                                              0
<TOTAL-REVENUES>                                34,722
<CGS>                                                0
<TOTAL-COSTS>                                    8,723
<OTHER-EXPENSES>                                16,543
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               7,288
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             10,417
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    10,417
<EPS-PRIMARY>                                      .64
<EPS-DILUTED>                                      .63