Regency Centers Corp
NASDAQ:REG

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Regency Centers Corp
NASDAQ:REG
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Price: 68.05 USD 0.13% Market Closed
Market Cap: 12.4B USD

Regency Centers Corp
Investor Relations

In the bustling world of real estate, Regency Centers Corp. carves a distinctive niche with its focus on high-quality, grocery-anchored shopping centers. Founded in 1963, the company has consistently demonstrated a keen eye for strategic location selection, prioritizing affluent suburban markets where consumer traffic is robust and demand for everyday essentials is unwavering. At the heart of Regency's operations is its commitment to convenience and community engagement. By partnering with nationally recognized grocery chains like Whole Foods and Trader Joe's, it ensures a steady flow of customers who come for the weekly food shop and stay for the array of retailers and dining options. This symbiotic relationship between grocers and supplementary tenants not only drives consistent foot traffic but also creates a vibrant shopping environment that enhances customer loyalty and tenant satisfaction alike.

Regency Centers' business model revolves around owning, operating, and developing shopping centers that cater to daily consumer needs, fostering resilience in the face of economic fluctuations. The company generates substantial revenue through leasing out retail spaces to a diverse mix of tenants, including well-known brands and local businesses. By prioritizing locations that boast strong demographics and high barriers to entry for competitors, Regency ensures a competitive advantage in capturing the stable cash flow that its real estate assets provide. Furthermore, its strategic focus on maintaining a balanced portfolio of properties across key regions in the U.S. enhances its ability to adapt and thrive in the dynamic retail landscape. With an emphasis on sustainable development and operational excellence, Regency Centers expertly navigates the intricacies of retail real estate, ensuring consistent income generation and long-term growth.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 29, 2025
AI Summary
Q3 2025

Strong Quarter: Regency Centers delivered another quarter of outstanding results, with robust same-property NOI and earnings growth driven by leasing activity and healthy tenant demand.

Outlook Raised: Management raised full-year earnings growth guidance and increased the dividend by over 7%, citing continued strong performance.

Development Growth: Over $170 million of new projects started in Q3, and total project starts are expected to reach $300 million in 2025, highlighting Regency's unique position as the only national developer at scale of grocery-anchored centers.

Leasing Strength: Same-property percent leased rate reached 96.4%, with strong cash re-leasing spreads of 13% and GAAP rent spreads near record high at 23%.

Balance Sheet: Regency maintains strong liquidity and leverage within the 5x-5.5x target range, with significant free cash flow and nearly full availability on its $1.5 billion credit facility.

2026 Preview: Early guidance for 2026 calls for mid-3% same-property NOI growth and mid-6% total NOI growth, driven by base rent, with healthy credit losses expected to persist.

Key Financials
Same-Property NOI Growth
5.25% to 5.5%
Dividend
Increased by more than 7%
Same-Property Percent Leased
96.4%
Same-Property Commenced Rate
94.4%
Cash Re-leasing Spread
13%
GAAP Rent Spread
23%
Development and Redevelopment Starts (YTD 2025)
More than $220 million
Total Development Project Starts (past 3 years)
$800 million
In-Process Development and Redevelopment Pipeline
More than $650 million
Blended Returns on Development and Redevelopment Pipeline
Exceeding 9%
Free Cash Flow
Substantial level (exact value not specified)
Credit Loss Guidance Range (2025)
50 to 75 basis points
Leverage
5x to 5.5x
Credit Facility Availability
Nearly full availability on $1.5 billion facility
NAREIT FFO Growth (2025)
Mid-7%
Core Operating Earnings Growth (2025)
Mid-6%
Total NOI Growth (2026)
Mid-6%
Incremental NOI from Ground-Up Development (2026)
$10 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Martin E. Stein Jr.
Non Independent Executive Chairman of the Board
No Bio Available
Ms. Lisa Palmer
President, CEO & Non Independent Director
No Bio Available
Mr. Michael J. Mas CPA
Executive VP & CFO
No Bio Available
Mr. Alan Todd Roth
COO & President of East Region
No Bio Available
Mr. Nicholas Andrew Wibbenmeyer
Chief Investment Officer & President of West Region
No Bio Available
Ms. Terah L. Devereaux
Senior VP, Chief Accounting Officer & Principal Accounting Officer
No Bio Available
Mitch Walters
Senior VP & Chief Information Officer
No Bio Available
Mr. Michael R. Herman
Senior VP, General Counsel & Secretary
No Bio Available
Mr. Jan X. Hanak
Vice President of Marketing & Communications
No Bio Available
Ms. Amy L. D'Olimpio
Senior Vice President of Human Resources
No Bio Available

Contacts

Address
FLORIDA
Jacksonville
1 Independent Dr Ste 114
Contacts