Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOSTER DAVID H II
   2. Issuer Name and Ticker or Trading Symbol
EASTGROUP PROPERTIES INC [EGP] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and CEO
(Last)
(First)
(Middle)
190 EAST CAPITOL STREET, SUITE 400		 3. Date of Earliest Transaction (Month/Day/Year)
03/07/2012
(Street)

JACKSON, MS 39201		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/07/2011   A   17,095 A (1) 293,289 D  
Common Stock 03/07/2012   F   1,076 D $ 48.89 (2) 292,213 D  
Common Stock 03/07/2012   A   17,095 A (3) 309,308 D  
Common Stock 03/07/2012   F   1,344 D $ 48.89 (4) 307,964 (5) D  
Common Stock               2,430 I Spouse (6)
Common Stock               750 I By IRA

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOSTER DAVID H II
190 EAST CAPITOL STREET
SUITE 400
JACKSON, MS 39201		   X     President and CEO  

Signatures

 Michael C. Donlon, Attorney-in-Fact for David H. Hoster II   03/09/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Award of restricted shares as 2011 annual long-term incentive compensation pursuant to the Company's 2004 Equity Incentive Plan, as amended. These restricted shares vest one-fifth on the date of grant, one-fifth on each of January 1, 2013 and 2014 and the remainder of the restricted shares vest January 1, 2015.
(2) On March 7, 2012, 3,419 restricted shares vested and the Reporting Person instructed the Company to withhold 1,076 shares to cover tax withholding obligations as permitted under the Company's 2004 Equity Incentive Plan, as amended.
(3) Award of restricted shares as 2011 multi-year long-term incentive compensation pursuant to the Company's 2004 Equity Incentive Plan, as amended. These restricted shares vest one-fourth on the date of grant, and one-fourth on each of January 1, 2013, 2014 and 2015.
(4) On March 7, 2012, 4,274 restricted shares vested and the Reporting Person instructed the Company to withhold 1,344 shares to cover tax withholding obligations as permitted under the Company's 2004 Equity Incentive Plan, as amended.
(5) As of the date hereof, the Reporting Person's direct beneficial ownership includes 68,883 restricted shares granted under the Company's 2004 Equity Incentive Plan, as amended, that have not yet vested.
(6) The Reporting Person disclaims beneficial ownesrhip of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

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