Core Viewpoint - Regency Centers (REG) reported quarterly funds from operations (FFO) of $1.09 per share, exceeding the Zacks Consensus Estimate of $1.07 per share, and showing an increase from $1.02 per share a year ago, indicating a positive trend in performance [1][2] Financial Performance - The company achieved revenues of $372.54 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.85% and up from $359.6 million year-over-year [2] - Over the last four quarters, Regency Centers has consistently exceeded consensus FFO estimates, achieving this four times [2] Market Performance - Regency Centers shares have declined approximately 1.2% since the beginning of the year, contrasting with the S&P 500's gain of 3.1%, indicating underperformance relative to the broader market [3] Future Outlook - The current consensus FFO estimate for the upcoming quarter is $1.12 on revenues of $378.2 million, and for the current fiscal year, it is $4.49 on revenues of $1.54 billion, suggesting expectations for continued growth [7] - The estimate revisions trend for Regency Centers is currently favorable, contributing to a Zacks Rank 2 (Buy) for the stock, indicating expectations for outperformance in the near future [6] Industry Context - The REIT and Equity Trust - Retail industry, to which Regency Centers belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable industry outlook that could positively impact stock performance [8]

Financial Performance - Net Income Attributable to Common Shareholders for Q4 2024 was $0.46 per diluted share, compared to $0.47 per diluted share in Q4 2023[17]. - Full year Net Income Attributable to Common Shareholders was $2.11 per diluted share for 2024, up from $2.04 per diluted share in 2023[17]. - For Q4 2024, Net Income Attributable to Common Shareholders was $83.1 million, or $0.46 per diluted share, a decrease from $86.4 million, or $0.47 per diluted share in Q4 2023[22]. - Net income attributable to common shareholders for Q4 2024 was $83,066,000, a decrease of 3.0% from $86,361,000 in Q4 2023[33]. - Net income attributable to common shareholders for the year ended December 31, 2024, was $386.7 million, a 7.5% increase from $359.5 million in 2023[62]. - Nareit Funds From Operations (Nareit FFO) for Q4 2024 was reported at $1.09 per diluted share, and $4.30 per diluted share for the full year[20]. - Nareit FFO for Q4 2024 was $199.5 million, or $1.09 per diluted share, compared to $190.0 million, or $1.02 per diluted share in Q4 2023, representing a 7.9% increase[22]. - Nareit Funds From Operations (FFO) for the year ended 2024 increased to $790,892, up 7.4% from $736,086 in 2023[79]. - Core Operating Earnings for Q4 2024 were $1.04 per diluted share, with full year earnings at $4.13 per diluted share[20]. - Core Operating Earnings for Q4 2024 were $190.6 million, or $1.04 per diluted share, up from $184.4 million, or $0.99 per diluted share in Q4 2023, reflecting a 6.0% increase[22]. - Core Operating Earnings per share (diluted) rose to $4.13 for the year ended 2024, compared to $3.95 in 2023, reflecting a 4.6% increase[79]. Property Performance - Same Property NOI increased by 4.0% year-over-year for Q4 2024, and by 3.6% for the full year[20]. - Same Property NOI for Q4 2024 increased by 4.0% year-over-year, with Same Property base rents contributing 3.3% to this growth[22]. - Same Property NOI for the year ended December 31, 2024, was $939,848 million, up 2.7% from $915,042 million in 2023[76]. - Same Property NOI without termination fees for the year ended 2024 was $934,974, reflecting a growth of 3.1% from $907,172 in 2023[54]. - Same Property percent leased reached a record high of 96.7%, increasing by 100 basis points year-over-year[20]. - Regency's Same Property portfolio was 96.7% leased as of December 31, 2024, an increase of 60 basis points sequentially and 100 basis points year-over-year[22]. - The percentage of leased properties increased to 96.3% as of December 31, 2024, compared to 95.1% in December 2023[56]. - The occupancy rate across all properties was reported at 96.3% as of December 31, 2024, indicating strong leasing performance[110]. - The overall occupancy rate for all properties is 96.3%, with an annual base rent (ABR) totaling $1,186,227,000[113]. Leasing Activity - Executed 8.1 million square feet of new and renewal leases in 2024, with blended rent spreads of +9.5% on a cash basis[20]. - The company executed approximately 2.3 million square feet of new and renewal leases in Q4 2024 at a blended cash rent spread of +10.8%[24]. - In Q4 2024, the total leasing transactions reached 426, with a Gross Leasable Area (GLA) of 2,298,000 sq. ft., and a new base rent of $27.49 per sq. ft., reflecting a rent spread of 10.8%[102]. - For new leases in Q4 2024, the weighted average lease term was 9.0 years, with a new base rent of $34.40 per sq. ft. and a cash rent spread of 15.9%[102]. - The total annual base rent (ABR) across all properties as of December 31, 2024, was $1,186,227,000, with an average ABR per sq. ft. of $25.16[110]. - The company achieved a rent spread of 12.8% for new leases over the past 12 months, indicating strong demand and pricing power[102]. Development and Redevelopment - Initiated over $35 million in new development and redevelopment projects in Q4 2024, totaling $258 million for the year[20]. - The company plans to spend approximately $250 million on development and redevelopment in 2025, compared to $228.8 million in 2024[26]. - Total in-process developments and redevelopments amount to $497 million, with 94% leased and an estimated yield of 9% +/-[96]. - Ground-up developments have incurred costs of $238 million, with an average stabilization yield of 7% +/- and 79% leased[96]. - Redevelopments total $259 million in costs, achieving a stabilization yield of 10% +/- and 96% leased[96]. Financial Guidance - Regency's 2025 guidance for Net Income Attributable to Common Shareholders per diluted share is projected to be between $2.25 and $2.31, up from $2.11 in 2024[26]. - Nareit Funds From Operations (Nareit FFO) per diluted share is expected to be between $4.52 and $4.58 for 2025, up from $4.30 in 2024[147]. - Same property NOI growth without termination fees is projected to be between 3.2% and 4.0% for 2025, compared to 3.6% in 2024[147]. - Development and redevelopment spend for 2025 is estimated at approximately $250,000,000, compared to $228,847,000 in 2024[147]. - Acquisitions for 2025 are projected to be around $135,000,000, up from $91,905,000 in 2024[147]. Debt and Capital Structure - Total Debt Outstanding as of December 31, 2024, was $4,408,700, an increase from $4,153,949 in 2023[84]. - The weighted average contractual interest rate for total debt was 4.11% as of December 31, 2024, compared to 3.9% in 2023[84]. - The percentage of fixed debt increased to 98.3% in 2024 from 96.3% in 2023, indicating a shift towards more stable financing[84]. - The net debt to total market capitalization ratio stands at 24.1% as of December 31, 2024, a slight decrease from 26.7% in the previous quarter[88]. - Fixed charge coverage ratio is reported at 4.7x for December 31, 2024, indicating strong ability to cover fixed charges[88]. Market and Economic Outlook - Forward-looking statements indicate that the company anticipates potential impacts from economic and geopolitical challenges on its operations[41]. - The company emphasizes the importance of non-GAAP measures for evaluating financial performance and trends[36]. Tenant and Property Mix - Grocery tenants represent 20% of the total ABR, while quick service/fast casual restaurants account for 13%[115]. - The top 50 CBSAs contribute 83.4% of the total ABR, indicating a strong concentration of revenue in these areas[113]. - Major tenants include Publix, CVS, and Whole Foods, contributing to high occupancy rates in various locations[134]. - The average rent per square foot across the portfolio is $21.56, with major tenants including Publix, TJ Maxx, and CVS[131].

Core Insights - Regency Centers Corporation reported a slight decrease in net income attributable to common shareholders for Q4 2024, with earnings of $0.46 per diluted share compared to $0.47 in Q4 2023 [1][6] - For the full year 2024, net income attributable to common shareholders increased to $2.11 per diluted share from $2.04 in 2023 [1][6] - The company provided initial earnings guidance for 2025, projecting net income per diluted share between $2.25 and $2.31 [14][15] Financial Results - Reported Nareit FFO for Q4 2024 was $1.09 per diluted share, up from $1.02 in Q4 2023, and for the full year, it increased to $4.30 from $4.15 [5][11] - Core Operating Earnings for Q4 2024 were $1.04 per diluted share, compared to $0.99 in Q4 2023, with full-year earnings rising to $4.13 from $3.95 [5][11] - Same Property NOI increased by 4.0% year-over-year for Q4 2024 and by 3.6% for the full year, excluding lease termination fees [5][11][24] Portfolio Performance - The occupancy rate reached a record high of 96.7%, with a year-over-year increase of 100 basis points [5][11] - The company executed 8.1 million square feet of comparable new and renewal leases in 2024, achieving blended rent spreads of +9.5% on a cash basis [5][11] - Same Property shop percent leased increased to 94.1%, reflecting a 60 basis point year-over-year improvement [5][11] Capital Allocation and Balance Sheet - Regency started over $35 million in new development and redevelopment projects in Q4 2024, totaling $258 million for the year [5][11] - The company raised $100 million of common stock through its ATM program at an average price of $74.66 per share [5][11] - As of December 31, 2024, Regency's pro-rata net debt and preferred stock to operating EBITDAre was 5.2x [5][11] Acquisitions and Dispositions - In Q4 2024, Regency acquired University Commons in Austin, Texas, for approximately $14 million [16] - The company disposed of two small office buildings in Greenwich, Connecticut, for about $5 million [16] - Subsequent to year-end, Regency acquired its partner's interest in Putnam Plaza for approximately $10 million [16] Dividend Information - On February 4, 2025, the Board declared a quarterly cash dividend of $0.705 per share, payable on April 2, 2025 [16] - The Board also declared dividends on Series A and Series B preferred stock, payable on April 30, 2025 [16]

Regency Centers Corp. (REG) is slated to report fourth-quarter and full-year 2024 results on Feb. 6, after the closing bell. The company’s quarterly results are likely to display year-over-year growth in revenues and funds from operations (FFO) per share.See the Zacks Earnings Calendar to stay ahead of market-making news.In the last reported quarter, this Jacksonville, FL-based retail real estate investment trust (REIT) reported NAREIT FFO per share of $1.07, outpacing the Zacks Consensus Estimate of $1.04. ...

JACKSONVILLE, Fla., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency Centers” or the “Company”) (Nasdaq:REG) today announced the federal income tax treatment of its 2024 distributions to holders of its Common and Preferred stock. Regency Centers Corporation: Common Stock: Symbol REG CUSIP #: 758849103Record DatePayable DateTotal Distribution Per ShareDistribution Allocated to 2024Total Ordinary DividendsQualified Dividends (Included in Total Ordinary Div)Section 199A Dividends(1)Total ...

Shares of Regency Centers (REG) have rallied 12.6% in the past six months, outperforming the industry's growth of 10.5%.REG is well-poised to gain from its strategically located portfolio of grocery-anchored premium shopping centers and the presence of leading grocers in its tenant roster. Strategic buyouts and an encouraging development pipeline bode well for long-term growth. A healthy balance sheet aids financial flexibility.Analysts seem bullish about this Zacks Rank #2 (Buy) company, with the Zacks Con ...

Group 1 - Regency Centers Corporation will announce its fourth quarter 2024 earnings results on February 6, 2025, after market close [1] - An earnings conference call is scheduled for February 7, 2025, at 11:00 a.m. ET [2] - The earnings release and supplemental information will be available on the Company's Investor Relations website [1] Group 2 - Regency Centers is a leading national owner, operator, and developer of shopping centers in suburban areas with strong demographics [4] - The Company's portfolio includes properties with productive grocers, restaurants, service providers, and top retailers [4] - Regency Centers operates as a fully integrated real estate company and is a qualified real estate investment trust (REIT) [4]

With healthy retail demand and subdued construction activity continuing to drive the recovery in the retail real estate industry, Regency Centers Corp. (REG) seems well-poised to benefit from its portfolio of premium open-air shopping centers. Also, its focus on building a high-quality portfolio of grocery-anchored shopping centers and encouraging development pipeline bode well.Late in October, Regency reported third-quarter 2024 NAREIT funds from operations (FFO) per share of $1.07, outpacing the Zacks Con ...

Delighting its shareholders, Regency Centers Corporation (REG) has announced a 5.2% increase in its quarterly common stock dividend to 70.5 cents. This marks its 11th successive year of increases. The increased amount will be paid out on Jan. 3, 2025 to shareholders on record as of Dec. 16, 2024.Reflecting positive sentiments, shares of Regency were up more than 1% during yesterday’s trading session.The latest dividend rate marks an annualized amount of $2.82 per share compared with the prior rate of $2.68. ...

Regency Centers Corporation (REG) reported third-quarter 2024 NAREIT funds from operations (FFO) per share of $1.07, outpacing the Zacks Consensus Estimate of $1.04. The figure increased 4.9% from the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results reflect healthy leasing activity and a year-over-year improvement in the same property's net operating income (NOI) and base rents. The company raised its 2024 outlook.Total revenues of $360.3 million increased ...