Regency Centers Q1 net income rises on steady tenant demand

Regency Centers

29/04/2026 21:46

Overview

U.S. shopping center REIT reports Q1 Nareit FFO of $224.3 million

Q1 same property NOI rose 4.4% yr/yr, driven by tenant demand and leasing momentum

Company refreshed $500 mln share repurchase program and reaffirmed 2026 earnings guidance

Outlook

Company raises 2026 net income guidance to $2.45-$2.49 per diluted share from $2.35-$2.39

Regency Centers maintains 2026 Nareit FFO guidance at $4.83-$4.87 per diluted share

Company maintains 2026 Same Property NOI growth forecast of 3.25%-3.75%

Result Drivers

BASE RENT GROWTH - Company said same property base rent growth contributed 3.6% to same property NOI growth in Q1

LEASING MOMENTUM - Co executed 1.5 mln sq ft of new and renewal leases at blended cash rent spreads of 12.1% in Q1

DEVELOPMENT ACTIVITY - Regency started $73 mln of redevelopment projects and completed $42 mln of development and redevelopment projects in Q1

Company press release: ID:nGNX6M6br7

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.68
Q1 Net Income
$125.10 mln
Q1 FFO
Beat
$224.30 mln
Q1 Core Operating Earnings
$216.50 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy"

Wall Street's median 12-month price target for Regency Centers Corp is $83.50, about 4% above its April 28 closing price of $80.31

The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 28 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)