Regency Centers Q2 2023 Earnings Report
Key Takeaways
Regency Centers reported Net Income of $0.51 per diluted share and Core Operating Earnings of $0.96 per diluted share for the second quarter. The company raised its 2023 Nareit FFO and Core Operating Earnings guidance. Same Property NOI increased by 3.6%, excluding lease termination fees and the collection of receivables reserved during 2020-2021.
Nareit FFO was $1.03 per diluted share and Core Operating Earnings was $0.96 per diluted share for the second quarter.
2023 Nareit FFO guidance was raised to a range of $4.11 to $4.15 per diluted share and 2023 Core Operating Earnings guidance to a range of $3.89 to $3.93 per diluted share.
Same Property NOI increased year-over-year by 3.6% in the second quarter, excluding lease termination fees and the collection of receivables reserved during 2020-2021.
Same Property percent leased increased by 70 basis points year-over-year to 95.2%.
Regency Centers
Regency Centers
Forward Guidance
Regency Centers updated its 2023 guidance, which remains on a Regency stand-alone basis only, and does not factor in any pro forma impacts from the pending Urstadt Biddle transaction.