JACKSONVILLE, Fla., July 31, 2024 (GLOBE NEWSWIRE) -- Regency Centers Corporation ("Regency") announced today that its Board of Directors (the "Board") has appointed Gary E. Anderson as its newest member, effective as of August 1, 2024. Mr. Anderson recently retired from Prologis, Inc. ("Prologis"), a real estate investment trust that is a global leader in real estate logistics facility development and operation. With the addition of Mr. Anderson as an independent director, Regency will expand the size of i ...

Over the trailing four quarters, the company's FFO per share exceeded the Zacks Consensus Estimate on three occasions and met in the remaining quarter, with the average beat being 1.71%. This is depicted in the graph below: On a year-over-year basis, the national retail vacancy rate remained unchanged at 5.3% in the second quarter. The vacancy rate was steady for the third consecutive quarter and was among the lowest rates since 2007. In the last reported quarter, this Jacksonville, FL-based retail real est ...

Core Viewpoint - The retail real estate sector, particularly strip malls, is experiencing a resurgence, with Regency Centers positioned well to capitalize on this trend due to low vacancy rates and strong demand for grocery-anchored properties [3][34]. Industry Overview - Retail real estate shows a subdued average vacancy rate close to 4%, which is below its long-term average, indicating a strong demand despite closures in some sectors [3][4]. - Strip malls are expected to have the lowest supply risk through 2028, benefiting from historically low new retail development [4][5]. Company Profile: Regency Centers - Regency Centers has a market cap of $12 billion and focuses on owning and managing high-quality shopping centers, primarily leased to leading grocers in desirable suburban areas [6][11]. - The company holds interests in 482 properties covering approximately 57 million square feet, with over 80% of its portfolio being grocery-anchored [11][12]. - Regency's top tenants include major grocery chains, which are critical to its operational strategy [12][13]. Financial Performance - Regency Centers achieved a same-store occupancy rate of 95.8%, benefiting from strong demand, and reported a 2.1% increase in same-store net operating income (NOI) [20][24]. - The company is expected to grow its per-share adjusted funds from operations (AFFO) by 4% in 2023, with potential acceleration to 6% and 8% in the following years [43]. Development and Growth Strategy - Regency has initiated over $2.5 million in development and redevelopment projects in 2023, with plans to maintain similar activity levels in 2024 [27][28]. - The company has a strong balance sheet, with an A3 credit rating from Moody's, allowing it to self-fund project costs and invest in growth [22][41]. Valuation and Investment Potential - Regency Centers trades at a blended P/AFFO ratio of 18.3x, below its long-term normalized multiple of 21.3x, indicating it may be undervalued by approximately 34% [25][33]. - The company offers a dividend yield of 4.2%, with a three-year compound annual growth rate (CAGR) of 3.8%, presenting a compelling opportunity for long-term investors [45][46].

Since 2014, the company has increased its dividend each year at a compound annual growth rate of 3.8%, while maintaining a conservative adjusted FFO, or AFFO, dividend payout ratio, which stood at 77.06% at the end of 2023. REG - IR REG pays a 4.32% dividend yield and is trading at a P/AFFO of 17.92x, compared to its average AFFO multiple of 22.04x. The company has been developing, acquiring, and operating shopping centers since the 1960s and has rewarded its shareholders with a steady source of cash flow f ...

Replay Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-admin ...

Allkindza Shares of Regency Centers (NASDAQ:REG) have been an underperformer over the past year as elevated interest rates have weighed on real estate stocks. I last covered REG in January, rating shares a "buy," but performance has been disappointing with the stock losing 7% while the market has rallied by 11%. Interestingly, the current FFO analyst estimate of $4.18 is slightly above my $4.15 forecast, meaning underperformance has been driven by multiple compression rather than poor operating results. Thi ...

JACKSONVILLE, Fla., May 30, 2024 (GLOBE NEWSWIRE) -- Regency Centers Corporation ("Regency", "Regency Centers" or the "Company") (NASDAQ:REG) today announced that Lisa Palmer, President and Chief Executive Officer, is scheduled to present at the Nareit REITweek Investor Conference on Wednesday, June 5, 2024, at 11:00 am ET. To listen to the presentation, please use the webcast information provided below. A link to the webcast will be available for replay on the Investor Relations page of the Company's websi ...

Date: Wednesday, June 5, 2024 Time: 11:00 am – 11:30 am ET Speaker: Lisa Palmer, President & CEO Webcast Link: Regency Centers Presentation Link About Regency Centers Corporation (NASDAQ: REG) Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to t ...

JACKSONVILLE, Fla., May 16, 2024 (GLOBE NEWSWIRE) -- Regency Centers Corporation ("Regency", "Regency Centers" or the "Company") (Nasdaq:REG) today released its 2023 Corporate Responsibility Report highlighting the Company's environmental, social, and governance progress and achievements. The report can be found on the Corporate Responsibility page of Regency's website. "As a foundational strategy for Regency, embodied responsibility will continue to enable our business's long- term sustainability and succe ...

JACKSONVILLE, Fla., May 16, 2024 (GLOBE NEWSWIRE) -- Regency Centers Corporation ("Regency", "Regency Centers" or the "Company") (Nasdaq:REG) today released its 2023 Corporate Responsibility Report highlighting the Company's environmental, social, and governance progress and achievements. The report can be found on the Corporate Responsibility page of Regency's website. "As a foundational strategy for Regency, embodied responsibility will continue to enable our business's long- term sustainability and succe ...