Regency Centers (REG) Provides COVID-19 Business Update
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Price: $79.04 +0.47%
EPS Growth %: +11.1%
Financial Fact:
Recoveries from tenants and other income: 35.87M
Today's EPS Names:
DTGI, CRMT, MAYS, More
EPS Growth %: +11.1%
Financial Fact:
Recoveries from tenants and other income: 35.87M
Today's EPS Names:
DTGI, CRMT, MAYS, More
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Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ: REG) today provided a business update related to COVID-19, including an update on rent collections for April and May.
As of May 31, 2020, approximately 75% of Regency’s tenants were open based on pro-rata Annual Base Rent (“ABR”), and the Company had collected 68% and 58% of April and May pro-rata base rent, respectively.
| April and May Rent Collections (As of May 31, 2020) | |||||||
| Type* | Tenant Categories | % of Total ABR | April Base Rent Collected | May Base Rent Collected | |||
| Essential - Retail/Services | Grocers, drugstores, mass merchandisers, banks, pet stores, office supplies, medical, etc. | 43 | % | 95 | % | 92 | % |
| Essential - Restaurants | 19 | % | 54 | % | 42 | % | |
| Quick Service | Fast food, QSRs, limited service | 12 | % | 59 | % | 48 | % |
| Full Service | Casual dining, table service, fine dining | 7 | % | 45 | % | 31 | % |
| Other Retail/Services | Soft goods, Personal Service, professional service, fitness, other | 38 | % | 44 | % | 28 | % |
| Total Portfolio | 100 | % | 68 | % | 58 | % | |
| * Essential retailers defined as those that supply or provide consumers and essential businesses with any basic necessary goods and services; definition varies across municipalities. | |||||||
For further details, please refer to the Company’s COVID-19 Business Update June 2020 presentation that can be found on its website at Investors.regencycenters.com.
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