News Releases

Regency Centers Updates 2015 and Introduces 2016 Earnings Guidance

January 11, 2016 at 2:21 PM EST
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Company Release - 1/11/2016 8:53 AM ET

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”) (NYSE: REG) today announced updated 2015 and initial full-year 2016 earnings guidance. Selected items are listed herein and a complete listing of guidance components is included on the Company’s website at investors.regencycenters.com.

         

Updated Full-Year 2015 Guidance
         
    Previous Guidance   Updated Guidance
Core Funds From Operations (“Core FFO”) per diluted share   $3.00 – $3.03   $3.02 – $3.04
NAREIT Funds From Operations (“NAREIT FFO”) per diluted share   $2.89 – $2.92   $2.90 – $2.92
Same Property Net Operating Income (“SPNOI”) Growth excluding termination fees (pro-rata)   4.0% – 4.3%   +/- 4.4%
         
         

Initial Full-Year 2016 Guidance
         
Core FFO per diluted share   $3.20 – $3.26
NAREIT FFO per diluted share   $3.18 – $3.24
SPNOI Growth excluding termination fees (pro-rata)   2.75% – 3.50%
     
                   

Reconciliation of Net Income attributable to Common Stockholders to NAREIT FFO and Core FFO

  
                   
          Full Year     Full Year  
NAREIT FFO and Core FFO Guidance:         2015     2016  
                             
Net income attributable to common stockholders         $ 1.34     1.36       $   1.29     1.35  
                             
Adjustments to reconcile net income to NAREIT FFO:                            
Depreciation and amortization           1.91     1.91           1.89     1.89  
Gain on sale of operating properties           (0.38 )   (0.38 )         0.00     0.00  
All other amounts           0.03     0.03           0.00     0.00  
                             
                             
NAREIT Funds From Operations         $ 2.90     2.92       $   3.18     3.24  
                             
                             
Adjustments to reconcile NAREIT FFO to Core FFO:                            
Development and acquisition pursuit costs           0.02     0.02           0.02     0.02  
Early extinguishment of debt           0.08     0.08           0.00     0.00  
Change in executive management           0.02     0.02           0.00     0.00  
All other non-core amounts           0.00     0.00           0.00     0.00  
                             
                             
Core Funds From Operations         $ 3.02     3.04       $   3.20     3.26  
                             

About Regency Centers Corporation (NYSE: REG)

With more than 50 years of experience, Regency is the preeminent national owner, operator and developer of high-quality, grocery-anchored neighborhood and community shopping centers. The Company’s portfolio of 318 retail properties encompasses over 42.7 million square feet located in top markets throughout the United States, including co-investment partnerships. Regency has developed 219 shopping centers since 2000, representing an investment at completion of more than $3 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

Forward-looking statements involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.

Regency Centers Corporation
Patrick Johnson, 904-598-7422
PatrickJohnson@RegencyCenters.com

Source: Regency Centers Corporation