Regency Centres Pref Share REG 5.875 Perp 09/21/23 | 8-K: FY2025 Q1 EPS: USD 0.58

EPS: As of FY2025 Q1, the actual value is USD 0.58.

Segment Revenue

Reported Nareit FFO of $1.15 per diluted share and Core Operating Earnings of $1.09 per diluted share.

Operational Metrics

• Increased Same Property NOI year-over-year, excluding lease termination fees, by 4.3%.
• Same Property percent leased ended the quarter at 96.5%, an increase of 100 basis points year-over-year.
• Same Property anchor percent leased ended the quarter at 98.3%, an increase of 130 basis points year-over-year.

Cash Flow

Total liquidity as of March 31, 2025, was $1,414 million, including cash, cash equivalents, and marketable securities of $79 million.

Unique Metrics

• Executed 1.4 million square feet of comparable new and renewal leases during the quarter at blended rent spreads of +8.1% on a cash basis and +18.6% on a straight-lined basis.
• Acquired Brentwood Place, a community center in Nashville, TN, for $119 million on March 14, 2025.

Outlook / Guidance

Regency Centers reaffirmed its 2025 earnings guidance for Nareit FFO, Core Operating Earnings, and Same Property NOI growth. S&P Global Ratings upgraded Regency’s credit rating to “A-” with a stable outlook in February 2025. Regency aims to have less than 15% of total debt maturing in any given year, with a weighted average interest rate of 4.2% and weighted average years to maturity of 6.6 years.