Regency Centers (REG) Tops Q3 EPS by 4c

Regency Centers (NYSE: REG) reported Q3 EPS of $0.35, $0.04 better than the analyst estimate of $0.31.

Third Quarter 2017 Highlights

• Net Income Attributable to Common Stockholders (“Net Income”) of $0.35 per diluted share.
• NAREIT Funds From Operations (“NAREIT FFO”) of $0.91 per diluted share and Core Funds From Operations (“Core FFO”) of $0.95 per diluted share.
• Same property Net Operating Income (“NOI”) as adjusted, which reflects adjustments for the Equity One merger, excluding termination fees, increased 5.0% as compared to the same period in the prior year.
• As of September 30, 2017, the same property portfolio was 96.1% leased, a 20 basis point increase sequentially.
• Spaces less than 10,000 square feet (“Small Shops”) were 92.5% leased, a 40 basis point increase sequentially.
• Executed 1.8 million square feet of new and renewal leases on a comparable basis, resulting in 17.4% blended rent spreads on new leases.
• As of September 30, 2017, a total of 30 properties were in development or redevelopment representing a combined investment of approximately $600 million.

For earnings history and earnings-related data on Regency Centers (REG) click here.

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