Funtap Regency Centers Corporation (NASDAQ:REG), incorporated in 1963 and headquartered in Jacksonville, FL, acquires, develops, owns, leases, and operates shopping centers mainly located in suburban markets throughout the country. While this REIT is one of the best retail ones from a balance sheet, portfolio, and performance perspective, it is one of the most expensive ones too. In fact, the very good prospects driven by an overly positive market outlook cannot justify the current valuation in my view. How ...

Shares of Regency Centers (REG) have rallied 16.1% in six months, outperforming the industry's growth of 5.2%. Regency Centers is one of the leading retail real estate investment trusts (REITs) in the United States. The company's portfolio mainly consists of grocery-anchored community and neighborhood centers, ensuring dependable traffic. Last month, Regency Centers reported second-quarter 2024 NAREIT funds from operations (FFO) per share of $1.06, which outpaced the Zacks Consensus Estimate of $1.02. Resul ...

Regency Centers (REG) recently announced the opening of Oakley Shops at Laurel Fields, a new ground-up development anchored by Safeway in Oakley, CA. Oakley Shops represents Regency's first development in the Northern California submarket and will encompass around 79,000 square feet of retail space. This development will be located at the signalized intersection of Laurel Road and O'Hara Avenue, aiming to fill the gap of insufficient high-quality retail and grocery options in the surrounding area. Safeway i ...

Regency Centers Corporation (REG) is one of the leading retail real estate investment trusts (REIT) in the United States. The company's portfolio mainly consists of grocery-anchored community and neighborhood centers ensuring dependable traffic. Last month, Regency Centers reported second-quarter 2024 NAREIT funds from operations (FFO) per share of $1.06, which outpaced the Zacks Consensus Estimate of $1.02. Results reflected healthy leasing activity and a year-over-year improvement in the base rent. The co ...

OAKLEY, Calif., Aug. 26, 2024 (GLOBE NEWSWIRE) -- Regency Centers has announced the commencement of Oakley Shops at Laurel Fields ("Oakley Shops"), a new Safeway-anchored ground-up development in Oakley, CA. Oakley Shops will include approximately 79,000-square-feet of retail and marks Regency's first development in the Northern California submarket. This new development will be situated at the signalized arterial intersection of Laurel Road and O'Hara Avenue and will address a void of limited highquality r ...

JACKSONVILLE, Fla., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Regency Centers Corporation ("Regency," "Regency Centers," or the "Company") (Nasdaq: REG) announced today that its operating partnership, Regency Centers, L.P., has priced a $325 million public offering of senior unsecured notes due 2035 (the "Notes") under its existing shelf registration filed with the U.S. Securities and Exchange Commission (the "SEC"). The Notes will mature on January 15, 2035, and were issued at 99.813% of par value with a coupon of ...

Regency Centers Corporation (NASDAQ:REG) Q2 2024 Earnings Conference Call August 2, 2024 11:00 AM ET Company Participants Christy McElroy - SVP, Capital Markets Lisa Palmer - President and CEO Alan Roth - East Region President and COO Nick Wibbenmeyer - West Region President and CIO Mike Mas - CFO Conference Call Participants Michael Goldsmith - UBS Jeff Spector - Bank of America Merrill Lynch Juan Sanabria - BMO Capital Markets Viktor Fediv - Scotiabank Craig Mailman - Citigroup Samir Khanal - Evercore IS ...

Regency Centers Corporation (REG) reported second-quarter 2024 NAREIT funds from operations (FFO) per share of $1.06, outpacing the Zacks Consensus Estimate of $1.02. The figure increased 2.9% from the prioryear quarter. Results reflect healthy leasing activity and a year-over-year improvement in the base rent. However, high interest expenses during the quarter acted as a dampener. The company also raised its 2024 outlook. Total revenues of $357.3 million increased 13.7% from the year-ago period. However, t ...

Group 1: Financial Performance - Regency Centers reported quarterly funds from operations (FFO) of $1.06 per share, exceeding the Zacks Consensus Estimate of $1.02 per share, and up from $1.03 per share a year ago, representing an FFO surprise of 3.92% [1] - The company posted revenues of $357.25 million for the quarter ended June 2024, which missed the Zacks Consensus Estimate by 1.19%, compared to year-ago revenues of $314.25 million [2] - Over the last four quarters, Regency Centers has surpassed consensus FFO estimates three times, but has topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - Regency Centers shares have increased about 0.5% since the beginning of the year, while the S&P 500 has gained 15.8% [3] - The future stock price movement will largely depend on management's commentary during the earnings call and the company's FFO outlook [3][4] - The current consensus FFO estimate for the coming quarter is $1.04 on revenues of $367.01 million, and for the current fiscal year, it is $4.19 on revenues of $1.47 billion [7] Group 3: Industry Context - The REIT and Equity Trust - Retail industry, to which Regency Centers belongs, is currently in the top 16% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions, suggesting that investors can track these revisions for better investment decisions [5][6]

Core Insights - Regency Centers Corporation reported a net income attributable to common shareholders of $99.3 million, or $0.54 per diluted share for Q2 2024, compared to $86.8 million, or $0.51 per diluted share in Q2 2023, indicating a year-over-year increase in profitability [4][5][6] - The company raised its 2024 Nareit FFO guidance to a range of $4.21 to $4.25 per diluted share, and Core Operating Earnings guidance to a range of $4.06 to $4.10 per diluted share, reflecting a positive outlook for the year [2][13] - Regency's Same Property NOI increased by 3.3% year-over-year, excluding lease termination fees and the collection of receivables reserved during 2020 and 2021 [2][6][23] Financial Performance - Nareit FFO for Q2 2024 was $196.4 million, or $1.06 per diluted share, up from $176.8 million, or $1.03 per diluted share in Q2 2023 [5][19] - Core Operating Earnings for Q2 2024 were $189.3 million, or $1.02 per diluted share, compared to $164.7 million, or $0.96 per diluted share in the same period last year [5][19] - The company executed approximately 2.2 million square feet of comparable new and renewal leases at blended rent spreads of +9.2% on a cash basis and +18.2% on a straight-lined basis [2][7] Portfolio and Leasing Activity - As of June 30, 2024, Regency's Same Property portfolio was 95.8% leased, an increase of 80 basis points year-over-year [6][7] - The Same Property shop percent leased was 93.5%, also reflecting an increase of 80 basis points compared to the previous year [6][7] - The company started approximately $40 million of new development and redevelopment projects in Q2 2024, bringing the year-to-date total to $120 million [2][9] Capital Allocation and Shareholder Returns - Regency repurchased approximately 3.3 million shares of its stock for $200 million at an average price of $60.48 per share during the quarter [2][10] - The Board declared a quarterly cash dividend of $0.67 per share on July 31, 2024, payable on October 3, 2024 [3][12] - The company has a new share repurchase program authorized for up to $250 million, effective until July 30, 2026 [10] Corporate Responsibility and Credit Rating - S&P Global upgraded Regency's outlook to 'Positive' and affirmed its BBB+ credit rating in May 2024 [2][11] - The company issued its annual Corporate Responsibility report in May, highlighting its commitment to environmental, social, and governance initiatives [8]