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COMMON STOCK ACTIVITY
 12 Months Ended
Dec. 31, 2012
Equity [Abstract]  
COMMON STOCK ACTIVITY
COMMON STOCK ACTIVITY

The following table presents the common stock activity for the three years ended December 31, 2012:
 
Years Ended December 31,
2012
 
2011
 
2010
Common Shares
Shares outstanding at beginning of year
27,658,059

 
26,973,531

 
26,826,100

Common stock offerings                                                            
2,179,153

 
586,977

 
—

Stock options exercised                                                            
4,500

 
9,250

 
18,000

Dividend reinvestment plan                                                            
3,915

 
5,989

 
6,705

Incentive restricted stock granted                                                            
111,732

 
79,491

 
135,704

Incentive restricted stock forfeited                                                            
—

 
(233
)
 
—

Director common stock awarded                                                            
7,326

 
6,618

 
6,690

Restricted stock withheld for tax obligations
(36,195
)
 
(3,564
)
 
(19,668
)
Shares outstanding at end of year                                                            
29,928,490

 
27,658,059

 
26,973,531


Common Stock Issuances
During 2012, EastGroup issued 2,179,153 shares of its common stock through its continuous common equity program with net proceeds to the company of $109.6 million.

During 2011, EastGroup issued 586,977 shares of its common stock through its continuous common equity program with net proceeds to the Company of $25.2 million.

Dividend Reinvestment Plan
The Company has a dividend reinvestment plan that allows stockholders to reinvest cash distributions in new shares of the Company.

Common Stock Repurchase Plan
During 2012, EastGroup's Board of Directors terminated its previous plan which authorized the repurchase of up to 1,500,000 shares of its outstanding common stock.  The shares were able to be purchased from time to time in the open market or in privately negotiated transactions.  Under the common stock repurchase plan, the Company purchased a total of 827,700 shares for $14,170,000 (an average of $17.12 per share).  The Company has not repurchased any shares under this plan since 2000.