Business
Regency Centers Reports Fourth Quarter and Full Year 2021 Results
JACKSONVILLE, Fla., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (Nasdaq:REG) today reported financial and
About this update from Regency Centers Corporation
[{"type":"text","content":"JACKSONVILLE, Fla., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (Nasdaq:REG) today reported financial and operating results for the period ended December 31, 2021. For the three months ended December 31, 2021 and 2020, Net Income was $0.39 per diluted share and $0.23 per diluted share, respectively. For the twelve months ended December 31, 2021 and 2020, Net Income was $2.12 per diluted share and $0.26 per diluted share, respectively. Fourth Quarter and Full Year 2021 Highlights Reported Nareit FFO of $1.01 per diluted share for the fourth quarter, and $4.02 per diluted share for the full yearReported that Same Property Net Operating Income (“NOI”), excluding lease termination fees, increased 15.4% during the fourth quarter and 16.2% during the full year over the same periods a year agoIncreased percent leased by 50 basis points sequentially to 94.3% in the Same Property portfolio, as of December 31, 2021Collected 99% of fourth quarter pro-rata billed base rent, as of February 7, 2022Executed 1.8 million square feet of comparable new and renewal leases during the fourth quarter at a blended rent spread of +12.9%, and 7.1 million square feet during the full year at a blended rent spread of +5.5%Completed property acquisitions of $311 million during the fourth quarter and $489 million during the full year, both at Regency’s shareCompleted property dispositions of $87 million during the fourth quarter and $279 million during the full year, both at Regency’s shareAchieved pro-rata net debt-to-operating EBITDAre of 5.1x at December 31, 2021 Subsequent Highlights On January 11, 2022, closed on the sale of Costa Verde Center in San Diego, CA for $125 millionOn January 25, 2022, issued its second annual TCFD Climate Change Risk Report, illustrating the Company’s continued commitment to responsible environmental stewardshipOn February 9, 2022, Regency’s Board of Directors (the “Board”) declared a quarterly cash dividend on the Company’s common stock of $0.625 per shareInclusion for a 3rd year on Newsweek’s 2022 Most Responsible Companies List, ranked top 100 “We are proud of all that Regency has accomplished in the last year as we recovered from the disruption caused by the pandemic, a testament to the resiliency of our portfolio and the hard work of our people,” said Lisa Palmer, President ...