EastGroup Properties, Inc. announced its participation in a coalition of industrial real estate investment trusts, including First Industrial Realty Trust, Inc., Prologis, Inc., and STAG Industrial, Inc., to update standardized methodologies for calculating key non-GAAP property metrics. This initiative aims to improve comparability across the industrial REIT sector.
The Industrial REIT Group reaffirmed its approach to determining property stabilization, occupancy, rent change, and customer retention. The annual same-store portfolio will continue to include only properties that were stabilized in both the current and prior periods presented, with criteria to exclude value-added and redevelopment properties also reaffirmed.
All members of the Industrial REIT Group will align their non-GAAP metrics with these updated methodologies. EastGroup has incorporated these methodologies into its 2025 guidance and does not anticipate a material impact on its non-GAAP metrics for periods prior to 2025, enhancing transparency for investors.
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