Regency Centers Q4 Nareit FFO beats analyst expectations

Overview

• Shopping center owner's Q4 Nareit FFO beat analyst expectations

• Company started $97 mln of new development projects in Q4

• Company completed $164 mln of redevelopment projects in Q4

Outlook

• Regency Centers expects 2026 net income per share between $2.35 and $2.39

• Company forecasts 2026 Nareit FFO per share between $4.83 and $4.87

• Regency Centers anticipates 2026 Same Property NOI growth of 3.25% to 3.75%

Result Drivers

• SAME PROPERTY NOI - Increased by 4.7% in Q4, driven by base rent growth of 4.1%

• LEASING ACTIVITY - Executed 1.7 mln sq ft of leases in Q4 with cash rent spread of +12%

• GAIN FROM TRANSACTION - $72.2 mln gain from partial distribution-in-kind transaction impacted net income

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 $79.00, about 6.4% above its February 4 closing price of $74.25

• The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 29 three months ago

Press Release: ID:nGNX8B2v1V

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