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 announced the resignation of Executive VP and Chief Investment Officer Mac Chandler, who will take a CEO position at another REIT. Chandler's responsibilities will be transitioned to other members of Regency's executive team, ensuring continued oversight of development and transaction activities. Lisa Palmer, President and CEO, expressed gratitude for Chandler's contributions and confidence in the management team to maintain the company’s capital allocation strategy, focusing on value creation through its development pipeline.
Regency Centers Corporation (NASDAQ: REG) reported Q4 2020 financial results, with Net Income at $0.23 per diluted share, down from $0.24 in Q4 2019. Full-year Net Income declined to $0.26 per share from $1.43. Nareit FFO for Q4 was $0.76 per diluted share, impacted by uncollectible lease income due to COVID-19. Same property NOI decreased 10.5% in Q4 2020. Regency commenced over $124 million in development projects and declared a dividend of $0.595 per share. The company offered 2021 guidance with a range for Nareit FFO between $2.96 and $3.14 per diluted share.
Regency Centers Corporation (NASDAQ: REG) announced the federal income tax treatment for 2020 distributions. Shareholders will receive a total distribution of $2.3800 per share, with $2.1900 classified as ordinary dividends. Notably, a dividend of $0.5950 per share was declared for record holders on December 16, 2020, and paid on January 5, 2021, with $0.4050 attributed to 2020 for tax purposes. The company advises shareholders to consult tax advisors regarding their specific tax treatment of distributions.
On January 15, 2021, Regency Centers repaid its $265 million term loan due in 2022, eliminating unsecured debt until 2024. The repayment incurred a $2.5 million charge due to terminated interest rate swaps. In Q4 2020, the company sold five shopping centers for $77.8 million, including three additional properties and land parcels totaling $8.1 million. Following a review of its investment pipeline, Regency expects to write off $7.0 to $9.0 million in pre-development costs, including $5.3 million related to the Serramonte Center. Future project details will be disclosed on February 11, 2021.
Regency Centers Corporation (NASDAQ: REG) will announce its Fourth Quarter 2020 earnings results on February 11, 2021, following market closure. The earnings release and supplemental information will be available on the Investor Relations section of Regency's website. An earnings conference call is scheduled for February 12, 2021, at 12:00 p.m. ET. Regency Centers is a leading owner and developer of shopping centers primarily in affluent areas and is a member of the S&P 500 Index.
Regency Centers Corporation (NASDAQ: REG) announced that Lisa Palmer, President and CEO, will present at Nareit’s REITworld: 2020 Virtual Investor Conference on November 19, 2020, from 9:45 am to 10:15 am ET. The presentation will be accessible to registered attendees, and registration for the event is complimentary. Regency Centers is a leading owner and developer of shopping centers in affluent areas, managing a portfolio that includes grocers, restaurants, and top retailers. For more information, visit RegencyCenters.com.
Regency Centers reported third quarter 2020 financial results, revealing a net income of $12.7 million ($0.07 per diluted share), down from $57 million in Q3 2019. Nareit FFO was $101.7 million ($0.60 per diluted share), significantly lower than the previous year's $166.1 million. Same property Net Operating Income (NOI) declined by 15.2%, attributed to increased uncollectible lease income due to the COVID-19 pandemic. The portfolio was 93.4% leased. Regency declared a quarterly dividend of $0.595 per share. Despite ongoing challenges, 97% of tenants were operational as of October 31, 2020.
Regency Centers Corporation (NASDAQ: REG) will report its Third Quarter 2020 earnings on November 5, 2020, post-market. The earnings release will be accessible on the Investor Relations section of the company's website. A conference call is scheduled for November 6, 2020, at 11:00 a.m. ET, where investors can join via dial-in or webcast. Regency Centers is a prominent owner and developer of shopping centers in affluent areas and is included in the S&P 500 Index.
Regency Centers Corporation reported second-quarter 2020 results with a net income of $19 million ($0.11 per diluted share), down from $51.7 million in 2019. NAREIT Funds From Operations (FFO) fell to $104.7 million ($0.61 per share) from $160 million. Same property Net Operating Income (NOI) declined by 20.1% due to increased uncollectible lease income tied to COVID-19, with a leasing rate of 94.5% as of June 30. The company launched a $600 million unsecured notes offering to strengthen liquidity. A quarterly dividend of $0.595 per share was declared, payable on August 24, 2020.
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