real estate investment trust

EastGroup Properties Inc. reported second-quarter funds from operations of $2.36 per share, below the $2.37 per share estimated by analysts. The company also posted revenue of $193.3 million, falling short of the $193.8 million forecast. EastGroup provided guidance for higher FFO in the current quarter and full year.

AvalonBay Communities Inc. and Equity Residential (EQR) are discussing a potential merger. AvalonBay previously acquired the Park Loggia site in Manhattan for $300 million, initially planning luxury rentals and condos, but shifted to an all-condo strategy due to market saturation.