Regency Centres Pref Share REG 5.875 Perp 09/21/23 | 8-K: FY2025 Q3 EPS: USD 0.58

EPS: As of FY2025 Q3, the actual value is USD 0.58.

Segment Revenue

• Lease Income: $377.761 million for the three months ended September 30, 2025, compared to $349.057 million for the same period in 2024.
• Other Property Income: $3.089 million for the three months ended September 30, 2025, compared to $4.444 million for the same period in 2024.
• Management, Transaction, and Other Fees: $6.720 million for the three months ended September 30, 2025, compared to $6.765 million for the same period in 2024.

Operational Metrics

• Net Income Attributable to Common Shareholders: $105.960 million for the three months ended September 30, 2025, compared to $98.056 million for the same period in 2024.
• Nareit FFO: $213.499 million for the three months ended September 30, 2025, compared to $195.085 million for the same period in 2024.
• Core Operating Earnings: $202.610 million for the three months ended September 30, 2025, compared to $187.763 million for the same period in 2024.
• Same Property NOI: $274.237 million for the three months ended September 30, 2025, compared to $261.751 million for the same period in 2024, an increase of 4.8%.
• Same Property NOI without Termination Fees: $273.460 million for the three months ended September 30, 2025, compared to $261.002 million for the same period in 2024, an increase of 4.8%.
• Same Property Base Rent Growth: Contributed 4.7% to Same Property NOI growth in the third quarter.
• Occupancy: Same Property portfolio was 96.4% leased as of September 30, 2025, an increase of 40 basis points compared to September 30, 2024.
• Leasing Activity: Executed approximately 1.8 million square feet of comparable new and renewal leases during the quarter at a blended cash rent spread of +12.8% and a blended straight-lined rent spread of +22.9%.

Cash Flow

• Total Liquidity: $1,726 million.
• Unsecured Credit Facility - Committed: $1,500 million.
• Balance Outstanding: $30 million.
• Undrawn Portion of Credit Facility: $1,470 million.
• Cash, Cash Equivalents & Marketable Securities: $50 million.
• Unsettled Forward ATM Equity: $206 million.

Unique Metrics

• Development and Redevelopment Projects: Started projects with estimated net project costs of approximately $170 million during the three months ended September 30, 2025.
• Acquisitions: Acquired a portfolio of five shopping centers in Orange County, CA, for $357 million.
• Dispositions: Disposed of five assets for approximately $32 million during the quarter.
• Pro Rata Debt Maturity Profile: Total Pro Rata Debt: $5.8 billion, Weighted Average Interest Rate: 4.5%, Weighted Average Years to Maturity: 6.6 years.

Outlook / Guidance

• Regency raised its 2025 Nareit FFO guidance to a range of $4.62 to $4.64 per diluted share.
• The 2025 Core Operating Earnings guidance was raised to a range of $4.39 to $4.41 per diluted share.
• The 2025 guidance for Same Property NOI year-over-year growth, excluding termination fees, was raised to a range of +5.25% to +5.5%.