Regency Centers Pref Share REG 6.25 Perp 09/21/23 | 10-K: FY2025 Revenue: USD 1.554 B
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2025, the actual value is USD 1.554 B.
EPS: As of FY2025, the actual value is USD 2.82.
Consolidated Properties
- Number of Properties: 391 as of December 31, 2025, compared to 379 as of December 31, 2024.
- Total Gross Leasable Area (GLA): 46,102 thousand SF as of December 31, 2025, compared to 43,876 thousand SF as of December 31, 2024.
- Percent Leased: 96.0% as of December 31, 2025, compared to 96.2% as of December 31, 2024.
- Weighted Average Annual Effective Rent PSF: $26.55 as of December 31, 2025, compared to $25.56 as of December 31, 2024.
- Geographic Concentration (2025 GLA): Florida (23.0%), California (20.2%), Connecticut (8.4%), Texas (8.0%), New York (7.5%).
Unconsolidated Properties
- Number of Properties: 90 as of December 31, 2025, compared to 103 as of December 31, 2024.
- Total Gross Leasable Area (GLA): 12,275 thousand SF as of December 31, 2025, compared to 13,439 thousand SF as of December 31, 2024.
- Percent Leased: 96.8% as of December 31, 2025, unchanged from 96.8% as of December 31, 2024.
- Weighted Average Annual Effective Rent PSF: $25.87 as of December 31, 2025, compared to $24.51 as of December 31, 2024.
- Geographic Concentration (2025 GLA): California (18.6%), Virginia (13.9%), North Carolina (10.1%), Washington (7.2%), Maryland (6.7%), Texas (6.6%), Colorado (6.4%), Illinois (6.4%).
Lease Expirations (Pro-rata, as of December 31, 2025)
- Total GLA: 47,512 thousand SF.
- Total In Place Annual Base Rent: $1,231,110 thousand.
- Average Annual Base Rent PSF: $25.91.
- 2026 Expirations: 1,021 leases representing 2,990 thousand SF (6.3% of total GLA) with $85,068 thousand in annual base rent (6.9% of total), at an average of $28.45 PSF.
- New Leases Signed (2025): Average base rent of $36.02 PSF.
Debt Maturity
Regency has approximately $348.3 million and $752.1 million of consolidated fixed rate debt maturing in 2026 and 2027, respectively, which it expects to refinance.
Environmental, Social, and Governance (ESG) Outlook
Regency aims to reduce its absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 28% by 2030, using a 2019 baseline, and to achieve net-zero Scope 1 and 2 GHG emissions across all operations by 2050. These targets include enhancing energy efficiency, managing water and waste, and investing in renewable energy and EV charging stations. The Company does not expect these targets to materially impact its operating results and financial condition in the near term.
