Regency Centers Reports Second Quarter 2025 Results

Core Insights - Regency Centers Corporation reported a net income attributable to common shareholders of $102.6 million, or $0.56 per diluted share, for the quarter ended June 30, 2025, compared to $99.3 million, or $0.54 per diluted share, for the same period in 2024 [4][26] - The company raised its 2025 earnings guidance, projecting Nareit FFO in the range of $4.59 to $4.63 per diluted share, representing over 7% year-over-year growth [7][17] Financial Performance - Nareit FFO for the quarter was $212.1 million, or $1.16 per diluted share, up from $196.4 million, or $1.06 per diluted share, in the same quarter of 2024 [5][26] - Core Operating Earnings reached $202.2 million, or $1.10 per diluted share, compared to $189.3 million, or $1.02 per diluted share, for the same period in 2024 [6][26] - Same Property NOI increased by 7.4% year-over-year for the quarter, with a year-to-date growth of 5.8% [7][13] Leasing and Occupancy - The same property percent leased at the end of the quarter was 96.5%, an increase of 100 basis points year-over-year [7][13] - The company executed 1.9 million square feet of comparable new and renewal leases during the quarter, achieving blended rent spreads of +10.0% on a cash basis and +19.3% on a straight-lined basis [7][13] Capital Allocation - Regency strategically deployed over $600 million into accretive investments year-to-date, including the acquisition of five shopping centers in Southern California for $357 million [3][7] - As of June 30, 2025, the company's in-process development and redevelopment projects had estimated net project costs of $518 million at a blended estimated yield of 9% [7][14] Corporate Responsibility - The company issued its annual Corporate Responsibility report on May 21, 2025, highlighting its commitment to corporate responsibility initiatives [10]