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EQUITY OFFERINGS (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Direct Common Stock Issuance Activity
Direct Common Stock Issuance Activity
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 nine months ended September 30, 2024 and the year ended December 31, 2023:
Common
Stock (1)
Weighted Average PriceGross ProceedsNet Proceeds
(In shares)(Per share)(In thousands)(In thousands)
Three months ended March 31, 2024
— $— $— $— 
Three months ended June 30, 2024
218,929 168.62 36,916 36,547 
Three months ended September 30, 2024
239,750 179.74 43,093 42,663 
Nine months ended September 30, 2024
458,679 $174.43 $80,009 $79,210 
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.
Forward Equity Offering Activity
Forward Equity Offering Activity
The following table presents the Company’s forward equity offering activity during the three and nine months ended September 30, 2024:
Common Stock Weighted Average PriceGross 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 
Forward sale agreements settled — shares issued and proceeds
      received (4)
(300,502)166.39 (50,000)
New forward sale agreements (2)
1,099,612 185.80 204,306 
Forward Sale Agreements Outstanding at September 30, 2024
1,399,163 $181.76 $254,306 
(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.
(4) EastGroup settled outstanding forward equity sale agreements by issuing 300,502 shares of common stock in exchange for net proceeds of approximately $49,582,000.