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Sep 30
Regency Centers Q3 2025 Earnings Report
Regency Centers reported Q3 2025 results with increased Net Income, strong leasing activity, and raised guidance for the full year.
Key Takeaways
Regency Centers delivered solid Q3 2025 performance with higher earnings, improved occupancy, and strong rent spreads. The company increased its guidance and dividend, reflecting continued operational strength.
Net Income attributable to common shareholders was $106 million, or $0.58 per share.
Executed 1.8 million square feet of leases with 12.8% blended cash rent spread.
Same Property NOI excluding termination fees grew 4.8% YoY.
Increased full-year guidance and raised dividend by over 7%.
Regency Centers
Regency Centers
Forward Guidance
Regency Centers raised its 2025 guidance for FFO, Core Operating Earnings, and Same Property NOI growth, citing strong performance and increased investment activity.
Positive Outlook
- Raised Nareit FFO guidance to $4.62–$4.64 per diluted share.
- Increased Core Operating Earnings guidance to $4.39–$4.41 per share.
- Raised Same Property NOI growth forecast to 5.25%–5.5%.
- Started $170M in new development and redevelopment projects.
- Maintains strong liquidity with $1.5B in credit facility availability.
Challenges Ahead
- Interest expense and preferred dividends projected at $235M–$237M.
- G&A expenses projected at ~$96M.
- High capital expenditure guidance of ~$300M for development.
- No revenue breakdown by segment or geography was provided.
- Dispositions projected at only $110M despite active capital recycling.