Regency Centers Corp. (REG), while reporting higher first-quarter results, maintained its fiscal 2026 guidance for Nareit Funds From Operations or Nareit FFO, Core Operating Earnings, and Same Property NOI growth. However, the firm lifted outlook for net profit.
In pre-market activity, the shares were gaining around 2.4 percent, trading at $81.32, after closing Wednesday's regular trading 1.2 percent lower.
For fiscal 2026, the developer of shopping centers said it continues to expect Nareit FFO of $4.83 to $4.87.
Core Operating Earnings per share is still expected to be $4.59 to $4.63.
Further, the firm lifted outlook for net income attributable to shareholders to $2.45 to $2.49 per share from previous outlook of $2.35 to $2.39.
Same property Net Operating Income or NOI growth is still expected to be 3.25 percent to 3.75 percent.
In the first quarter, Nareit FFO was $224.3 million or $1.20 per share, compared to $210.7 million or $1.15 per share last year.
Core Operating Earnings were $216.5 million or $1.16 per share, compared to $199.4 million or $1.09 per share for the same period in 2025.
Net Income Attributable to Common Shareholders was $125.1 million or $0.68 per share, compared to $106.2 million or $0.58 per share a year ago.
NOI increased 8.4 percent to $296.39 million from $273.54 million last year. Same Property NOI increased 4.4 percent from last year to $285.63 million.
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