Regency Centers Q3 2020 Earnings Report
Key Takeaways
Regency Centers reported Net Income for the third quarter of $12.7 million, or $0.07 per diluted share. The Company reported Nareit FFO for the third quarter of $101.7 million, or $0.60 per diluted share. Third quarter same property NOI, excluding termination fees, declined by 15.2% compared to the same period in 2019.
Net Income Attributable to Common Stockholders of $0.07 per diluted share.
Nareit Funds From Operations of $0.60 per diluted share.
Same property Net Operating Income, excluding termination fees, declined by 15.2%, as compared to the three months ended September 30, 2019, driven by a higher rate of uncollectible lease income related to the COVID-19 pandemic.
As of September 30, 2020, the same property portfolio was 93.4% leased.
Regency Centers
Regency Centers
Forward Guidance
Due to the uncertainty and continuing disruption from COVID-19, the Company is not issuing guidance at this time, but will evaluate resumption of guidance in the future as the impact of COVID-19 on its tenants’ and the Company’s businesses is better understood.