REIT Regency Centers' Q3 FFO increases, raises 2025 guidance

Overview

• Regency Centers Q3 Nareit FFO rises, reflecting strong financial performance

• Company raises 2025 Nareit FFO and Core Operating Earnings guidance, indicating positive outlook

• Regency Centers increases quarterly dividend by over 7%, reflecting confidence in growth

Outlook

• Regency Centers raises 2025 Nareit FFO guidance to $4.62-$4.64 per share

• Company increases 2025 Core Operating Earnings guidance to $4.39-$4.41 per share

• Regency Centers lifts 2025 Same Property NOI growth forecast to 5.25%-5.5%

Result Drivers

• SAME PROPERTY NOI - Increased by 4.8% year-over-year, driven by base rent growth

• LEASING ACTIVITY - Executed 1.8 mln sq ft of leases with blended rent spreads of +12.8% cash and +22.9% straight-lined

• DEVELOPMENT PROJECTS - Started over $170 mln of new development and redevelopment projects in Q3

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for Regency Centers Corp is $79.50, about 7.9% above its October 27 closing price of $73.18

• The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 30 three months ago

Press Release:

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