Welcome to our dedicated page for Regency Centers Corporation news (Ticker: REG), a resource for investors and traders seeking the latest updates and insights on Regency Centers Corporation stock.
Regency Centers Corporation (REG) is a premier owner, operator, and developer of grocery-anchored retail centers across the United States. With a legacy spanning over 50 years, Regency has built a reputation for excellence and integrity in the real estate industry. The company's extensive portfolio includes an interest in 482 properties, encompassing nearly 57 million square feet of retail space, following the acquisition of Urstadt Biddle in August 2023.
Core Business and Achievements
Regency Centers focuses primarily on grocery-anchored centers, with 80% of its properties featuring a grocery anchor, which contributes significantly to its annual base rent. The company's portfolio is geographically diversified, with 22 regional offices ensuring no single market represents more than 12% of its net operating income. This strategic distribution mitigates risks and capitalizes on various market conditions.
Recent Projects and Financial Condition
Regency has been active in expanding and enhancing its portfolio. For instance, the Longmeadow Shops, a neighborhood center with approximately 100,000 square feet of fully leased space, was recently added to the portfolio. This center features a strong mix of national and local tenants, such as CVS, Starbucks, and Max Burger, making it a key community hub.
Financially, Regency Centers is robust, supported by a solid balance sheet and strategic capital allocation. The company continuously updates its financial guidance, with the latest update reflecting positive performance in the first quarter of 2024. Net Income Attributable to Common Shareholders was reported at $0.58 per diluted share, showcasing consistent growth.
Partnerships and Community Impact
Regency's partnerships with prominent retailers like Whole Foods Market and TJMaxx are a testament to its strong market position and relationship with leading brands. The company's developments, such as Cheshire Crossing, highlight its ability to create attractive retail destinations that serve local communities effectively.
Operating as a fully integrated Real Estate Investment Trust (REIT), Regency Centers is renowned for its commitment to maintaining high-quality properties that connect with their neighborhoods. The company's proactive approach in property management and development ensures long-term value creation for tenants and shareholders alike.
For the latest updates and detailed financial information, visit Regency Centers' Investor Relations page at investors.regencycenters.com.
Regency Centers Corporation (NASDAQ: REG) will release its First Quarter 2023 earnings results on May 4, 2023, after the market close. This announcement will be followed by an earnings conference call on May 5, 2023, at 11:00 a.m. ET. The details of the call, including dial-in numbers and a webcast link, are provided for investors. Regency Centers is recognized as a leading REIT focused on owning and operating shopping centers in suburban areas with strong demographics, featuring a diverse portfolio that includes top grocers and retailers. More details can be found on their Investor Relations website.
On March 21, 2023, Regency Centers Corporation (Nasdaq: REG) announced key leadership promotions effective March 13, 2023. Barry Argalas is now Managing Director, Transactions, overseeing acquisitions and strategic portfolio transactions. Terah Devereaux has been promoted to Senior Vice President, Chief Accounting Officer, responsible for accounting operations and compliance. Patrick McKinley is now Senior Vice President, Senior Market Officer, managing 47 assets across Florida. Abe Pacetti becomes Senior Vice President, Investments - Texas, contributing to significant developments in Houston. CEO Lisa Palmer praised their extensive experience and commitment to the company.
Regency Centers Corporation (Nasdaq: REG) has announced that CEO Lisa Palmer will present at the 2023 Citi Global Property CEO Conference on March 7, 2023, at 1:40 PM ET. This presentation will cover key insights about the company, which is a leading owner and operator of shopping centers in suburban areas.
The live presentation can be accessed through a provided webcast link. A replay will be available for a year after the event.
Regency Centers Corporation (REG) reported strong financial results for Q4 and full year 2022, highlighting a net income of $0.56 per diluted share for Q4, up from $0.39 in 2021. For the full year, net income was $2.81 per share, compared to $2.12 in 2021. Nareit FFO for Q4 was $1.05 per share, with a full year total of $4.10. The company's Same Property NOI grew by 5.8% in Q4 and 6.3% year-over-year. Regency's board declared a quarterly dividend of $0.65, payable on April 5, 2023. The company also authorized a new $250 million share repurchase program. 2023 guidance suggests a net income per share range of $1.92 to $2.00.
Regency Centers Corporation (Nasdaq: REG) announced the federal income tax treatment of its 2022 distributions to common stockholders. Shareholders received a total distribution of $3.15000 per share, with $2.52900 allocated as ordinary dividends. Specifically, for distributions of $0.62500 on January 5, 2022, $0.07300 was reported for tax year 2022. Additionally, the $0.65000 distribution on January 4, 2023, had $0.58100 reported for 2022, with the remainder for 2023. The company clarifies that tax treatment may vary year to year, and shareholders are advised to consult their tax advisors for personalized guidance.
Regency Centers Corporation (NASDAQ: REG) will announce its Fourth Quarter 2022 earnings results on February 9, 2023, after market close. An earnings conference call is scheduled for February 10, 2023, at 11:00 a.m. ET, with a webcast available for investors. Regency Centers is a leading owner, operator, and developer of shopping centers, focusing on suburban areas with strong demographics. As a self-administered REIT and member of the S&P 500 Index, the company emphasizes its commitment to high-quality properties that connect with local communities.
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