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Sep 30, 2024
Regency Centers Q3 2024 Earnings Report
Regency Centers reported strong third quarter results driven by operating fundamentals and value creation activity.
Key Takeaways
Regency Centers reported strong third quarter results, highlighted by a 4.9% increase in Same Property NOI and an increase in Same Property percent leased to 96.1%. The company raised its 2024 Nareit FFO and Core Operating Earnings guidance, reflecting confidence in continued success.
Reported Nareit FFO of $1.07 per diluted share and Core Operating Earnings of $1.03 per diluted share.
Increased Same Property NOI for the third quarter by 4.9% year-over-year, excluding lease termination fees and the collection of receivables reserved during 2020 and 2021.
Increased Same Property percent leased by 20 basis points sequentially and 80 basis points year-over-year to 96.1%.
Executed 1.8 million square feet of comparable new and renewal leases at blended rent spreads of +9.3% on a cash basis and +20.7% on a straight-lined basis.
Forward Guidance
Regency Centers raised its 2024 Nareit FFO guidance to a range of $4.27 to $4.29 per diluted share and 2024 Core Operating Earnings guidance to a range of $4.12 to $4.14 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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