EQUITY OFFERINGS (Tables)

6 Months Ended

Jun. 30, 2024

The following table presents the Company’s common stock issuance activity sold directly through sales agents pursuant to the Company's ATM programs during the six months ended June 30, 2024 and the year ended December 31, 2023:


	Common Stock (1)	Weighted Average Price		Gross Proceeds		Net Proceeds
	(In shares)	(Per share)		(In thousands)		(In thousands)
Three months ended March 31, 2024	—	$	—	$	—	$	—
Three months ended June 30, 2024 (2)	218,929	168.62		36,916		36,547
Six months ended June 30, 2024 (2)	218,929	$	168.62	$	36,916	$	36,547

Twelve months ended December 31, 2023	4,094,896	$	170.77	$	699,304	$	692,312

(1) Excludes shares of common stock sold on a forward basis as described below.

(2) Excludes 77,650 shares sold on June 28, 2024, at a weighted average price of $168.63, providing net proceeds to the Company of $12,963,000. These shares were not deemed to be issued and outstanding until settlement, subsequent to June 30, 2024, as disclosed in Note 22.

Forward Equity Offering Activity

The following table presents the Company’s forward equity offering activity during the three and six months ended June 30, 2024:


	Common Stock	Weighted Average Price		Gross Proceeds
	(In shares)	(Per share)		(In thousands)
Forward Sale Agreements Outstanding at December 31, 2023	406,041	$	183.92	$	74,679

Forward sale agreements settled — shares issued and proceeds received (1)	(272,342)	183.59		(50,000)
New forward sale agreements (2)	286,671	181.95		52,160
Forward Sale Agreements Outstanding at March 31, 2024	420,370	$	182.79	$	76,839

Forward sale agreements settled — shares issued and proceeds received (3)	(420,370)	182.79		(76,839)
New forward sale agreements (2)	600,053	166.65		100,000
Forward Sale Agreements Outstanding at June 30, 2024	600,053	$	166.65	$	100,000

(1) EastGroup settled outstanding forward equity sale agreements by issuing 272,342 shares of common stock in exchange for net proceeds of approximately $49,364,000.

(2) The Company did not receive any proceeds from the sale of common shares by the forward counterparties at the time it entered into forward sale agreements.

(3) EastGroup settled outstanding forward equity sale agreements by issuing 420,370 shares of common stock in exchange for net proceeds of approximately $76,200,000.