DEBT (Details) |
6 Months Ended | |||
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Jun. 30, 2025
USD ($)
Rate
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Dec. 31, 2024
USD ($)
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Unsecured Debt [Line Items] | ||||
Long-term debt, net of debt issuance costs | $ 1,454,379,000 | $ 1,503,562,000 | ||
Payments of principal over future years [Abstract] | ||||
2025 - Remainder of year | 95,000,000 | |||
2026 | 140,000,000 | |||
2027 | 175,000,000 | |||
2028 | 160,000,000 | |||
2029 | 155,000,000 | |||
2030 and beyond | 735,000,000 | |||
Total unsecured debt, before amortization of debt issuance costs | 1,460,000,000 | |||
Line of Credit [Member} | ||||
Unsecured Debt [Line Items] | ||||
Long-term debt, gross | 0 | 0 | ||
Unamortized debt issuance costs | (3,092,000) | (3,595,000) | ||
Long-term debt, net of debt issuance costs | (3,092,000) | (3,595,000) | ||
Unsecured Debt [Member] | ||||
Unsecured Debt [Line Items] | ||||
Long-term debt, gross | [1] | 1,460,000,000 | 1,510,000,000 | |
Unamortized debt issuance costs | (2,529,000) | (2,843,000) | ||
Long-term debt, net of debt issuance costs | $ 1,457,471,000 | $ 1,507,157,000 | ||
Term loan repaid in Q1 2025 | ||||
Unsecured Debt [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 1.58% | |||
Debt Instrument, Face Amount | $ 50,000,000 | |||
Term loan refinanced in Q1 2025 | ||||
Unsecured Debt [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 4.97% | |||
Basis point reduction in interest rate | 30 | |||
Debt Instrument, Face Amount | $ 100,000,000 | |||
Payments of principal over future years [Abstract] | ||||
Refinance maturity terms | The loan, which previously had five years remaining, now has a three-year maturity with two one-year extension options, at the Company's election. | |||
Revolving Credit Facility | ||||
Unsecured Debt [Line Items] | ||||
Long-term debt, gross | $ 0 | |||
Line of Credit Facility, basis spread on variable rate (in basis points) | 73.5 | |||
Line of Credit Facility, Interest Rate at Period End | 5.162% | |||
Line of Credit Facility, Borrowing Capacity | $ 625,000,000 | |||
Line of credit, facility fee (in basis points) | 14 | |||
Debt Instrument, Maturity Date, Description | July 31, 2028 | |||
Extension option on credit facility | two six-month extensions | |||
Line of credit facility, accordion | $ 625,000,000 | |||
Letters of Credit Outstanding, Amount | 2,588,000 | |||
Line of Credit [Member} | ||||
Unsecured Debt [Line Items] | ||||
Long-term debt, gross | $ 0 | |||
Line of Credit Facility, basis spread on variable rate (in basis points) | 77.5 | |||
Line of Credit Facility, Interest Rate at Period End | 5.275% | |||
Line of Credit Facility, Borrowing Capacity | $ 50,000,000 | |||
Line of credit, facility fee (in basis points) | 15 | |||
Debt Instrument, Maturity Date, Description | July 31, 2028 | |||
Extension option on credit facility | two six-month extensions | |||
Debt Instrument, Covenant Description | For both facilities, the margin and facility fee are subject to changes in the Company's credit ratings. In May 2025, Moody’s Ratings affirmed EastGroup’s issuer rating of Baa2 and changed its rating outlook from stable to positive. Given the strength of the Company’s key credit metrics, initial pricing for the credit facilities is based on the BBB+/Baa1 credit ratings level. This favorable pricing level will be retained provided that the Company’s consolidated leverage ratio, as defined in the applicable agreements, remains less than 32.5% | |||
Sustainability performance component | The $625,000,000 facility also includes a sustainability-linked pricing component, pursuant to which the applicable interest rate margin is adjusted if the Company meets a certain sustainability performance target. This sustainability metric is evaluated annually and was achieved for the year ended December 31, 2024, which allowed for an interest rate reduction during the three and six months ended June 30, 2025. The margin was effectively reduced on this unsecured bank credit facility by four basis points, from 77.5 to 73.5 basis points, and the facility fee was reduced from 15 to 14 basis points during the three and six months ended June 30, 2025. | |||
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- Definition Basis point reduction in interest rate No definition available.
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- Definition Credit facility, extension option No definition available.
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- Definition Line of credit facility, accordion No definition available.
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- Definition Line of credit, facility fee (in basis points) No definition available.
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- Definition Long-term debt, net of debt issuance costs No definition available.
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- Definition Refinance maturity terms No definition available.
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- Definition Sustainability performance component No definition available.
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Description of minimum financial levels (for example, tangible net worth and working capital) and achievement of certain financial ratios (for example, working capital ratio and debt service coverage ratio), and adherence to certain clauses which generally require or restrict certain actions (for example, entering into a debt arrangement with equal or greater seniority, and selling or discontinuing a certain business segment or material subsidiary) to be in compliance with the covenant clauses of the debt agreement. May also include a discussion of the adverse consequences that would result if the entity violates or fails to satisfy the covenants. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Description of reference rate used for variable rate of debt instrument. No definition available.
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The effective interest rate at the end of the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in remainder of current fiscal year. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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