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Regency Centers Corp
NASDAQ:REG

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Regency Centers Corp Logo
Regency Centers Corp
NASDAQ:REG
Watchlist
Price: 60.74 USD 0.95%
Updated: Mar 28, 2024

Intrinsic Value

Regency Centers Corp. operates as a real estate investment trust, which engages in the ownership, operation, and development of retail shopping centers. [ Read More ]

The intrinsic value of one REG stock under the Base Case scenario is 63.98 USD. Compared to the current market price of 60.74 USD, Regency Centers Corp is Undervalued by 5%.

Key Points:
REG Intrinsic Value
Base Case
63.98 USD
Undervaluation 5%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Regency Centers Corp

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Fundamental Analysis

Steady Growth and Strong Liquidity Expected in 2024
2023-Q4 Earnings Call

Steady Growth and Strong Liquidity Expected in 2024

In 2023, the company reported a 6% increase in core operating earnings per share, excluding the impact of COVID reserve collections, driven by a 3.6% rise in same-property NOI and strong base rent growth which contributed 360 basis points. Looking forward, 2024 guidance anticipates more than 3% growth in core operating earnings, with same-property NOI increasing by 2% to 2.5%. Despite a temporary reduction in commenced occupancy rates by about 50 basis points, caused by a longer lead time to open new anchor tenants, robust tenant demand suggests that the overall lease rate will trend upward through the year, with significant anchor rent commencements expected to boost earnings later in 2024. The company's solid financial position, with free cash flow forecasted to exceed $160 million and leverage at the low end of the 5 to 5.5x net debt to EBITDA target, positions it well for sustainable growth and strategic development and redevelopment investments.

Financials

Balance Sheet Decomposition
Regency Centers Corp

Current Assets 350.6m
Cash & Short-Term Investments 91.4m
Receivables 206.2m
Other Current Assets 53.1m
Non-Current Assets 12.1B
Long-Term Investments 431.3m
PP&E 11.1B
Intangibles 450.4m
Other Non-Current Assets 96.9m
Current Liabilities 682.7m
Accounts Payable 358.6m
Accrued Liabilities 246.1m
Other Current Liabilities 78.1m
Non-Current Liabilities 4.7B
Long-Term Debt 4.2B
Other Non-Current Liabilities 557.6m
Efficiency

Earnings Waterfall
Regency Centers Corp

Revenue
1.3B USD
Cost of Revenue
-394.8m USD
Gross Profit
927.7m USD
Operating Expenses
-459.5m USD
Operating Income
468.2m USD
Other Expenses
-108.7m USD
Net Income
359.5m USD

Free Cash Flow Analysis
Regency Centers Corp

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
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Fundamental Scores

REG Profitability Score
Profitability Due Diligence

Regency Centers Corp's profitability score is 60/100. The higher the profitability score, the more profitable the company is.

60/100
Profitability
Score

Regency Centers Corp's profitability score is 60/100. The higher the profitability score, the more profitable the company is.

REG Solvency Score
Solvency Due Diligence

Regency Centers Corp's solvency score is 32/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Short-Term Solvency
Low Altman Z-Score
32/100
Solvency
Score

Regency Centers Corp's solvency score is 32/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

REG Price Targets Summary
Regency Centers Corp

Wall Street analysts forecast REG stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for REG is 72.17 USD with a low forecast of 65.65 USD and a high forecast of 78.75 USD.

Lowest
Price Target
65.65 USD
8% Upside
Average
Price Target
72.17 USD
19% Upside
Highest
Price Target
78.75 USD
30% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

REG Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

REG Price
Regency Centers Corp

1M 1M
0%
6M 6M
+1%
1Y 1Y
+4%
3Y 3Y
+16%
5Y 5Y
+6%
10Y 10Y
+66%
Annual Price Range
60.74
52w Low
55.16
52w High
67.85
Price Metrics
Average Annual Return 8.26%
Standard Deviation of Annual Returns 47.25%
Max Drawdown -53%
Shares Statistics
Market Capitalization 11.7B USD
Shares Outstanding 184 963 000
Percentage of Shares Shorted 1.6%

REG Return Decomposition
Main factors of price return

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REG News

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Company Profile

Regency Centers Corp Logo
Regency Centers Corp

Country

United States of America

Industry

Real Estate

Market Cap

11.7B USD

Dividend Yield

4.51%

Description

Regency Centers Corp. operates as a real estate investment trust, which engages in the ownership, operation, and development of retail shopping centers. The company is headquartered in Jacksonville, Florida and currently employs 432 full-time employees. The firm conducts all its operations through Regency Centers, L.P. (the Operating Partnership). The company is primarily engaged in the ownership, management, leasing, acquisition, and development and redevelopment of shopping centers through the Operating Partnership. The firm owns approximately 298 properties and holds partial interests in an additional 104 properties through unconsolidated investments in real estate partnerships. The firm's properties include Willa Springs, Dunwoody Hall, Alden Bridge, Hasley Canyon Village, Shiloh Springs, Bethany Park Place, Blossom Valley, Amerige Heights Town Center, Clayton Valley Shopping Center, French Valley Village Center, Warwick Square Shopping Center, Pleasant Hill Shopping Center, Black Rock, Snell & Branham Plaza, Applewood Shopping Center, Spring Valley Shopping Center, Bridgemill Market, Rivertowns Square, and Point Royale Shopping Center, among others.

Contact

FLORIDA
Jacksonville
1 Independent Dr Ste 114
+19045987000.0
https://www.regencycenters.com/

IPO

1993-10-29

Employees

432

Officers

Non Independent Executive Chairman of the Board
Mr. Martin E. Stein Jr.
President, CEO & Non Independent Director
Ms. Lisa Palmer
Executive VP & CFO
Mr. Michael J. Mas
COO & President of East Region
Mr. Alan Todd Roth
Chief Investment Officer & President of West Region
Mr. Nicholas Andrew Wibbenmeyer
Senior VP, Chief Accounting Officer & Principal Accounting Officer
Ms. Terah L. Devereaux
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Senior VP & Chief Information Officer
Mitch Walters
Senior VP, General Counsel & Secretary
Mr. Michael R. Herman
Vice President of Marketing & Communications
Mr. Jan X. Hanak
Senior Vice President of Human Resources
Ms. Amy L. D'Olimpio
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See Also

Discover More
What is the Intrinsic Value of one REG stock?

The intrinsic value of one REG stock under the Base Case scenario is 63.98 USD.

Is REG stock undervalued or overvalued?

Compared to the current market price of 60.74 USD, Regency Centers Corp is Undervalued by 5%.