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Mar 31
Regency Centers Q1 2025 Earnings Report
Regency Centers reported its first quarter 2025 financial and operating results, showing strong performance in key metrics.
Key Takeaways
Regency Centers reported a solid first quarter in 2025, with Net Income Attributable to Common Shareholders at $0.58 per diluted share. The company saw an increase in Same Property NOI year-over-year and maintained high occupancy rates, reaffirming its 2025 earnings guidance.
Net Income Attributable to Common Shareholders remained stable at $0.58 per diluted share for both Q1 2025 and Q1 2024.
Nareit FFO increased to $1.15 per diluted share in Q1 2025 from $1.08 in Q1 2024.
Same Property NOI, excluding lease termination fees, grew by 4.3% compared to the same period in 2024.
The company executed 1.4 million square feet of comparable new and renewal leases with strong blended rent spreads.
Regency Centers
Regency Centers
Forward Guidance
Regency Centers reaffirmed its 2025 earnings guidance for Nareit FFO, Core Operating Earnings, and Same Property NOI growth, indicating a stable outlook for the year.
Positive Outlook
- Reaffirmed Nareit FFO guidance of $4.52-$4.58 per diluted share.
- Reaffirmed Core Operating Earnings guidance of $4.30-$4.36 per diluted share.
- Maintained Same Property NOI growth guidance without termination fees at +3.2% to +4.0%.
- Anticipated development and redevelopment spend of +/-$250 million.
- Expected acquisitions of +/-$140 million at a weighted average cap rate of +/- 5.5%.
Challenges Ahead
- No specific negative guidance points were highlighted in the provided text for the full year 2025.
- Interest expense, net and Preferred stock dividends are projected to be $232,000-$235,000.
- Non-cash revenues are projected to be +/-$46,000.
- G&A expense, net is projected to be $93,000-$96,000.
- Management, transaction and other fees are projected to be +/-$27,000.