EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2011

EARNINGS PER SHARE [Abstract]

Earnings per Share

(13)  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 common stockholders by the weighted average number of common shares outstanding.

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 common stockholders by the weighted average number of common shares outstanding plus the dilutive effect of nonvested restricted stock and stock options had the options been exercised.  The dilutive effect of stock options and their equivalents (such as nonvested restricted stock) was determined using the treasury stock method which assumes exercise of the options as of the beginning of the period or when issued, if later, and assumes proceeds from the exercise of options are used to purchase common stock at the average market price during the period.

Reconciliation of the numerators and denominators in the basic and diluted EPS computations is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
	(In thousands)
BASIC EPS COMPUTATION FOR NET INCOME    ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC.    COMMON STOCKHOLDERS
Numerator - net income attributable to common stockholders	$	5,492		4,477		10,284		9,380
Denominator - weighted average shares outstanding		26,820		26,748		26,815		26,741
DILUTED EPS COMPUTATION FOR NET INCOME    ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC.    COMMON STOCKHOLDERS
Numerator - net income attributable to common stockholders	$	5,492		4,477		10,284		9,380
Denominator:
Weighted average shares outstanding		26,820		26,748		26,815		26,741
Common stock options		7		12		7		13
Nonvested restricted stock		70		55		62		48
Total Shares		26,897		26,815		26,884		26,802