EASTGROUP PROPERTIES INC — Director's Dealing 2009

May 6, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2009-05-04

Reporting Person: HOSTER DAVID H II (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-05-04	Common Stock	M	5000	$20.375	Acquired	279724	Direct
2009-05-04	Common Stock	S	5000	$33.46	Disposed	274724	Direct
2009-05-05	Common Stock	M	501	$20.375	Acquired	275225	Direct
2009-05-05	Common Stock	S	501	$32.80	Disposed	274724	Direct
2009-05-06	Common Stock	M	4685	$20.375	Acquired	279409	Direct
2009-05-06	Common Stock	S	2585	$32.46	Disposed	276824	Direct
2009-05-06	Common Stock	S	500	$32.50	Disposed	276324	Direct
2009-05-06	Common Stock	S	100	$32.51	Disposed	276224	Direct
2009-05-06	Common Stock	S	100	$32.55	Disposed	276124	Direct
2009-05-06	Common Stock	S	300	$32.57	Disposed	275824	Direct
2009-05-06	Common Stock	S	200	$32.59	Disposed	275624	Direct
2009-05-06	Common Stock	S	100	$32.60	Disposed	275524	Direct
2009-05-06	Common Stock	S	100	$32.61	Disposed	275424	Direct
2009-05-06	Common Stock	S	200	$32.62	Disposed	275224	Direct
2009-05-06	Common Stock	S	100	$32.63	Disposed	275124	Direct
2009-05-06	Common Stock	S	200	$32.64	Disposed	274924	Direct
2009-05-06	Common Stock	S	200	$32.65	Disposed	274724	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-05-04	Stock Options	$20.375	M	5000	Disposed	2009-06-22	Common Stock (5000)	Direct
2009-05-05	Stock Options	$20.375	M	501	Disposed	2009-06-22	Common Stock (501)	Direct
2009-05-06	Stock Options	$20.375	M	4685	Disposed	2009-06-22	Common Stock (4685)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2430	Indirect
Common Stock	750	Indirect

Footnotes

F1: As of the date hereof, the Reporting Person's direct beneficial ownership includes 8,400 restricted shares granted under the Company's 1994 Management Incentive Plan, as amended, and 43,671 restricted shares granted under the Company's 2004 Equity Incentive Plan, as amended, that have not yet vested.

F2: The Reporting Person's options reported herein were all part of the same grant. All of the options were exercisable on the date of exercise.