Regency Centers Q1 2023 Earnings Report
Key Takeaways
Regency Centers reported a Net Income of $0.57 per diluted share for the first quarter of 2023, compared to $1.14 per diluted share for the same period in 2022. Nareit FFO was reported at $1.08 per diluted share, and Core Operating Earnings were $1.03 per diluted share. The company increased Same Property NOI by 6.3% and Same Property percent leased by 80 basis points year-over-year.
Reported Nareit FFO of $1.08 per diluted share and Core Operating Earnings of $1.03 per diluted share for the first quarter.
Raised 2023 Nareit FFO guidance to a range of $4.07 to $4.15 per diluted share and 2023 Core Operating Earnings guidance to a range of $3.87 to $3.93 per diluted share.
Increased Same Property NOI year-over-year by 6.3% in the first quarter, excluding lease termination fees and the collection of receivables reserved during 2020-2021.
Increased Same Property percent leased by 80 basis points year-over-year to 95.1%, and Same Property shop percent leased by 170 basis points year-over-year to 92.1%.
Regency Centers
Regency Centers
Forward Guidance
Regency Centers updated its 2023 guidance, projecting Net Income Attributable to Common Shareholders per diluted share between $2.01 and $2.09, Nareit Funds From Operations between $4.07 and $4.15 per diluted share, and Core Operating Earnings between $3.87 and $3.93 per diluted share.