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EQUITY OFFERINGS (Tables) | 6 Months Ended
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Jun. 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 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 | 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.

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