Regency Centers Corp REG

Morningstar Rating
$75.26 −0.66 (0.87%)
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Company Report

High-Quality, Grocery-Anchored Shopping Centers Continue to Produce Steady Revenue for Regency

Regency Centers is one of the largest shopping center REITs, with 482 properties spread across more than 20 major US metro areas following the completion of the Urstadt Biddle acquisition in August 2023. Regency's portfolio is filled with high-quality assets located in population-dense, affluent markets. The company focuses on owning grocery-anchored centers, with over 80% of properties featuring a grocery anchor and grocery stores representing slightly more than 20% of annual base rent. Regency's grocery anchors are strong draws to the centers as they produce sales per square foot well above the national average and are very healthy with low occupancy costs. The rest of the portfolio contains a substantial number of service-oriented tenants that are naturally resistant to e-commerce pressures.

Price vs Fair Value

REG is trading at a LOCK|TD$&rZ premium.
Price
$75.26
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

With over 80% of the portfolio featuring a grocery anchor and with the average grocery anchor in the portfolio producing sales per square foot significantly higher than the national average, Regency's portfolio has a strong driver of foot traffic to its locations that should remain relatively resistant to e-commerce pressures.

Bears

Shifts in consumer behavior, greater adoption of e-commerce, and technological advances could significantly disrupt tenant profitability, affecting property performance.

News

Trading Information

Previous Close Price
$75.92
Day Range
$75.2376.27
52-Week Range
$66.8683.66
Bid/Ask
$74.79 / $75.64
Shares Outstanding
183.12M
Market Cap
$13.78B
Volume/Avg
884,123 / 1M

Key Statistics

Price/Earnings (Normalized)
32.58
Price/Sales
8.51
Dividend Yield (Trailing)
3.95%
Dividend Yield (Forward)
4.01%
Dividend Payment Schedule
Jan, Apr, Jul, Oct
Total Yield
3.95%

Company Profile

Regency Centers is one of the largest shopping center-focused retail REITs. The company's portfolio includes an interest in 482 properties, which includes over 58 million square feet of retail space following the completion of the Urstadt Biddle acquisition in August 2023. The portfolio is geographically diversified with 22 regional offices and no single market representing more than 12% of total company net operating income. Regency's retail portfolio is primarily composed of grocery-anchored centers, with 80% of properties featuring a grocery anchor and grocery stores representing 20% of annual base rent.
Sector
Real Estate
Industry
REIT - Retail
Stock Style Box
Small Core
Total Number of Employees
507

Competitors

Valuation

Metric
REG
FRT
KIM
Price/Earnings (Normalized)
32.5840.5329.94
Price/Book Value
2.073.171.54
Price/Sales
8.517.597.27
Price/Cash Flow
15.5115.8313.56
Price/Earnings
REG
FRT
KIM

Financial Strength

Metric
REG
FRT
KIM
Quick Ratio
1.841.055.23
Current Ratio
1.861.055.23
Interest Coverage
3.623.272.49
Quick Ratio
REG
FRT
KIM

Profitability

Metric
REG
FRT
KIM
Return on Assets (Normalized)
5.19%3.31%
Return on Equity (Normalized)
14.90%6.29%
Return on Invested Capital (Normalized)
7.37%4.84%
Return on Assets
REG
FRT
KIM

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