Regency Centers(US:REG)2025-07-30 15:00Financial Performance and Guidance - The company forecasts approximately 7% year-over-year growth in Nareit FFO (Funds From Operations) per share at the midpoint of guidance, driven by same-property NOI (Net Operating Income) growth of +4.5% to +5.0%[29] - Nareit FFO guidance was raised by +6 cents at the midpoint from the previous quarter[30] - The company expects non-cash revenues of approximately $49 million[26] - The company anticipates general and administrative expenses between $93 million and $96 million[26] - The company projects interest expense, net, and preferred stock dividends between $235 million and $237 million[26] Portfolio and Occupancy - The company's signed-not-occupied (SNO) pipeline reflects a 260 basis point leased-to-occupied spread, representing approximately $38 million of base rent[39] - Of the $38 million in base rent represented by leases signed within the current SNO pipeline, 64% is expected to commence by year-end 2025, and 100% by year-end 2026[43] Acquisition and Capital Structure - The company acquired a five-property portfolio of premier shopping centers in Rancho Mission Viejo for $357 million[50] - The company assumed $150 million of debt at a 4.2% weighted average interest rate with the RMV acquisition[56] - The company's net debt and preferred stock to trailing 12-month EBITDAre is 5.3x, with approximately $1.5 billion revolver availability as of June 30, 2025[20]