Regency Centers Corporation · NASDAQ:REG
Regency Centers — FY2017 Earnings Presentation
9 slides from Regency Centers's earnings presentation, Jan 12, 2017
Slide 1: Initial 2017 Earnings & Valuation Guidance
Alternate Cover Initial 2017 Earnings & Valuation Guidance January 12, 2017
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements 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 (“Regency” o
Slide 3: Guidance: Earnings & Same Property NOI Growth
Guidance: Earnings & Same Property NOI Growth 2016E 2017E Net Income Attributable to Common Stockholders $1.41 - $1.43 $1.41 - $1.47 NAREIT FFO Per Diluted Share (1) $2.72 - $2.74 $3.40 - $3.46 Core FFO Per Diluted Share $3.28 - $3.30 $3.42 - $3.48 Same Property NOI Growth (excluding termination fee
Slide 4: Guidance: Occupancy Metrics
2017 Guidance: Occupancy Metrics 2017E Same property percent leased at period end +/- 96.0% Same property commenced occupancy at period end +/- 94.5% Note: All Figures are pro-rata
Slide 5: Guidance: Investments and Funding
2017 Guidance: Investments and Funding $000s 2016E 2017E Re/Development starts $218,000 7.6% $150,000 - $250,000 6.75% - 7.75% Acquisitions $352,000 4.2% $0 - $80,000 +/- 5.0% Dispositions $168,500 6.6% $0 - $90,000 6.0% - 7.0% Forward Equity Settlement (1) ~$90,000 Note: All figures are pro-rata Ap
Slide 6: Guidance: Other
2017 Guidance: Other $000s 2017E Net Interest Expense $98,000 - $100,000 Net G&A Expense $64,000 - $67,000 Recurring Third party Fees & Commissions $23,750 - $24,750 Note: All Figures are pro-rata
Slide 7: Guidance Rollforward
2017 Guidance Rollforward Low High 2016 Core FFO Per Diluted Share $3.28 $3.30 ‘Same Property NOI Growth 0.10 0.14 Investment Activity: Incremental Development NOI 0.04 0.05 2016 Property Sales (0.07) (0.07) 2016 Acquisitions 0.07 0.07 2017 Property Sales - (0.03) 2017 Acquisitions - 0.02 Net G&A (0
Slide 8: Reconciliation of FFO and Core FFO Guidance to Net Income
Reconciliation of FFO and Core FFO Guidance to Net Income December 31, 2016 and 2017 (All numbers are per share)
Slide 9: Non-GAAP Disclosure
Non-GAAP Disclosure The Company uses certain non-GAAP performance measures, in addition to the required GAAP presentations, as it believes these measures improve the understanding of the Company's operational results. Regency manages its entire real estate portfolio without regard to ownership struc