SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2012

SubsequentEventsAbstract

Subsequent Events

(16)  SUBSEQUENT EVENTS

On April 2, 2012, the Company repaid a mortgage loan with a balance of $8.7 million, an interest rate of 7.98%, and a maturity date of June 1, 2012.

As of April 25, 2012, EastGroup issued and sold 143,213 shares of common stock under its continuous common equity program during the second quarter of 2012 at an average price of $50.62 per share with net proceeds to the Company of $7.2 million.  The proceeds were used to reduce variable rate bank borrowings.  As of April 25, 2012, the Company has 901,652 shares of common stock remaining to sell under the program.