"We are optimistic that we will begin to see an increasingnumber of attractive investment opportunities over the balance of2010," says David Hoster, EastGroup president and CEO. The REITcompleted $40 million worth of acquisitions totaling 835,000 squarefeet last year, including its first warehouse in the Las Vegasmarket.
EastGroup posted funds from operations of $80.6 million for thepast year, down 5% from 2008, while earnings finished the year 20%lower at $26.7 million. The company raised at least $125 millionover the past year through a combination of stock sales, mortgagecompletions and the sale of a vacant 62,000-square-foot warehousein El Paso, TX for just under $1 million.
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