-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 N47kzAkKInmIKLe+1khbpe+VOg3XDDMgPonViexpw2bHl6KYdIhft+YUiP7L8Umu
 coVWWBaPmpdif6RLm3yHeg==

<SEC-DOCUMENT>0001005477-03-000605.txt : 20030508
<SEC-HEADER>0001005477-03-000605.hdr.sgml : 20030508
<ACCEPTANCE-DATETIME>20030508172159
ACCESSION NUMBER:		0001005477-03-000605
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030506
FILED AS OF DATE:		20030508

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ALOIAN D PIKE
		CENTRAL INDEX KEY:			0001192899

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07094
		FILM NUMBER:		03688727

	MAIL ADDRESS:	
		STREET 1:		C/O ROTHSCHILD REALTY INC
		STREET 2:		1251 AVENUEOF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EASTGROUP PROPERTIES INC
		CENTRAL INDEX KEY:			0000049600
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				132711135
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 22728
		CITY:			JACKSON
		STATE:			MS
		ZIP:			39202
		BUSINESS PHONE:		6013543555

	MAIL ADDRESS:	
		STREET 1:		P O BOX 22728
		CITY:			JACKSON
		STATE:			MS
		ZIP:			39202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EASTGROUP PROPERTIES II INC
		DATE OF NAME CHANGE:	19970529

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ICM REALTY
		DATE OF NAME CHANGE:	19830719
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

<documentType>4</documentType>
    <periodOfReport>2003-05-06</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
<issuer>        <issuerCik>0000049600</issuerCik>
        <issuerName>EASTGROUP PROPERTIES INC</issuerName>
<issuerTradingSymbol>EGP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
    <reportingOwnerId>
        <rptOwnerCik>0001192899</rptOwnerCik>
            <rptOwnerName>ALOIAN D PIKE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Eastgroup Properties, Inc. Common Stock</value>
            <footnoteId id="F1"/>
        </securityTitle>
        <transactionDate>
            <value>2003-05-05</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>S</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>14000</value>
            </transactionShares>
            <transactionValue>
                <value>26.2848</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>213280</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>(3)</value>
                <footnoteId id="F3"/>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Eastgroup Properties, Inc. Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>2003-05-06</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>S</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>16200</value>
            </transactionShares>
            <transactionValue>
                <value>26.2926</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>197080</value>
                <footnoteId id="F2"/>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>(3)</value>
                <footnoteId id="F3"/>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <footnotes>
        <footnote id="F1">$.0001 par value per share ("Common Stock")</footnote>
        <footnote id="F2">Does not include 2,600,000 shares of Series B Cumulative Convertible Preferred Stock owned indirectly and options to purchase 14,250 shares of common stock owned directly each of which have previously been disclosed and in relation to which there are no transactions to be reported.</footnote>
        <footnote id="F3">The Reporting Person has been appointed, among others, as a manager of Five Arrows, by Rothschild Realty Investors IIA L.L.C., the sole managing member of Five Arrows.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>FIVE ARROWS REALTY SECURITIES II L.L.C., /s/ D. Pike Aloian</signatureName>
        <signatureDate>2003-05-07</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----