Regency Centers(US:REG)2024-05-03 19:06Financial Performance & Guidance - The company projects Net Income Attributable to Common Shareholders per diluted share to be between $1.96 and $2.02 for the full year 2024[22] - Nareit Funds From Operations (FFO) per diluted share is guided between $4.15 and $4.21 for 2024[22] - Core Operating Earnings (COE) per diluted share is expected to be between $4.02 and $4.08 in 2024[22] - Same property NOI growth without termination fees or collection of 2020/2021 reserves is projected at +2.0% to +2.5%[22] - The company anticipates approximately $4-5 million in Lease Termination Fee Income in 2024, aligning with the historical average[24] Investment & Capital Allocation - Development and Redevelopment spend is estimated at +/- $180 million[22] - Dispositions are projected at +/- $125 million with a cap rate of +/- 5.5%[22] - The company's in-process development & redevelopment projects totaled $547 million as of March 31, 2024, with estimated stabilized yields of approximately 9%[28,42] Capital Structure & Debt - Total Pro Rata Debt Outstanding is $5.0 billion[26] - The company aims to maintain less than 15% of total debt maturing in any given year[26] - The company has revolver availability of approximately $1.5 billion[18] Risk Factors - The company highlights various risk factors, including those related to operating retail-based shopping centers, partnerships and joint ventures, funding strategies and capital structure, information management and technology, and the market price for its securities[3,4,5]