Jacksonville, FL-based Regency Centers Corporation is one of the leading publicly traded retail REIT in the United States and is a S&P 500 constituent. The company’s portfolio mainly constitutes of grocery-anchored community and neighborhood centers. It started operating as a publicly traded REIT in 1993.

Regency leases space in its shopping centers to grocery stores, major retail anchors, restaurants, side-shop retailers and service providers. This apart, the company also makes ground leasing or selling out-parcels to similar types of tenants.

As of June 30, 2024, Regency had full or partial ownership stakes in 481 properties, spanning 48.6 million square feet of gross leasable area (GLA). As of the same date, the company’s total property portfolio was 95% leased. The same-property portfolio was 95.8% leased.

Regency is making efforts to improve its portfolio with acquisitions and developments in major markets. In May 2024, Regency acquired the Compo Shopping Centers in the heart of Westport, CT. The acquisition of this 76,000-square-foot retail destination comes as part of the company’s efforts to expand in the Northeast.

In December 2023, Regency Centers acquired a neighborhood center, The Longmeadow Shops, in Longmeadow, MA, expanding its footprint of high-quality shopping centers in premier suburban trade areas with compelling demographics.

In August 2024, Regency announced the opening of Oakley Shops at Laurel Fields, a new ground-up development anchored by Safeway in Oakley, CA, encompassing around 79,000 square feet of retail space. As of June 30, 2024, Regency Centers’ in-process development and redevelopment projects had estimated net project costs of $578 million at the company’s share. It has incurred 49% of the cost as of this date.

Note: All EPS numbers presented in this report represents funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.