Focus on grocery-anchored shopping centers, expansion efforts, and a healthy balance sheet is likely to support REG despite rising e-commerce adoption.
Regency Centers is a high-quality REIT with a strong portfolio and performance. The REIT's portfolio includes 481 properties, primarily grocery-anchored, providing sustainable income and growth opportunities. Its balance sheet is one of the best I have seen in REITs in general, depicting a very conservative capital structure and strong liquidity.
REG's premium portfolio of necessity-driven grocery-anchored shopping centers, leading tenant roster and strategic expansion efforts augur well for growth.
REG's first shopping center development in the Northern California submarket is likely to draw in substantial consumer footfall and drive sales.
Regency Centers' (REG) premium portfolio of necessity-driven grocery-anchored shopping centers and strategic expansion augur well for growth.
Regency Centers Corporation (NASDAQ:REG ) Q2 2024 Earnings Conference Call August 2, 2024 11:00 AM ET Company Participants Christy McElroy - SVP, Capital Markets Lisa Palmer - President and CEO Alan Roth - East Region President and COO Nick Wibbenmeyer - West Region President and CIO Mike Mas - CFO Conference Call Participants Michael Goldsmith - UBS Jeff Spector - Bank of America Merrill Lynch Juan Sanabria - BMO Capital Markets Viktor Fediv - Scotiabank Craig Mailman - Citigroup Samir Khanal - Evercore ISI Dori Kesten - Wells Fargo Ravi Vaidya - Mizuho Securities Ki Bin Kim - Truist Securities Ron Kamdem - Morgan Stanley Floris Van Dijkum - Compass Point Linda Tsai - Jefferies Tayo Okusanya - Deutsche Bank Alec Feygin - Baird Mike Mueller - JPMorgan Operator Greetings, and welcome to Regency Center Corporation's Second Quarter 2024 Earnings Conference Call. At this time all participants are in listen-only mode.
Regency Centers' (REG) second-quarter 2024 results depict healthy leasing activity and improvement in the base rent. However, high interest expense affected the results to some extent.
Regency Centers (REG) came out with quarterly funds from operations (FFO) of $1.06 per share, beating the Zacks Consensus Estimate of $1.02 per share. This compares to FFO of $1.03 per share a year ago.
Healthy demand for Regency Centers' (REG) shopping centers and diverse tenant base are likely to have benefited the company's Q2 earnings. However, higher interest rates might have ailed.
Strip malls are making a comeback in retail real estate, benefiting companies like Regency Centers. Regency Centers has high-quality grocery-anchored properties, low vacancy rates, and strong financial health, offering growth potential and reliable dividends. Trading below historical valuation, Regency Centers presents a compelling opportunity for long-term investors seeking growth and income in the REIT sector.
Riches-to-riches stories are not as interesting as stories of overcoming hardships. Even companies such as Apple have had failures over the years, making it important to diversify and choose companies carefully when investing. Regency Centers and Rexford Industrial Realty are recommended as strong investment options in the real estate sector.
Ownership of premium shopping centers and a healthy balance sheet will likely aid Regency (REG) despite rising e-commerce adoption and high interest rates.