NASDAQ$REG
Regency Centers Corp · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Regency Centers reported solid results and continued improvement in operating trends, accelerating its path to recovery.
Regency Centers reported third quarter 2021 financial results, with Net Income of $0.69 per diluted share. Same Property Net Operating Income increased 24.4% during the third quarter over the same period a year ago. The company increased percent leased by 90 basis points sequentially to 93.8% in the Same Property portfolio as of September 30, 2021.
- Reported Nareit FFO of $1.12 per diluted share for the third quarter
- Updated 2021 Nareit FFO guidance to a range of $3.93 – $3.97 per diluted share
- Reported that Same Property Net Operating Income, excluding lease termination fees, increased 24.4% during the third quarter over the same period a year ago
- Increased percent leased by 90 basis points sequentially to 93.8% in the Same Property portfolio as of September 30, 2021
Headline financials
Revenue & EPS history
Regency Centers · Revenue · Quarterly
$307M
Forward guidance
Regency Centers provided updated 2021 guidance concurrently with the third quarter 2021 earnings release.
Tailwinds
- Net Income Attributable to Common Stockholders per diluted share $2.15 - $2.19
- Nareit Funds From Operations (“Nareit FFO”) per diluted share $3.93 - $3.97
- Core Operating Earnings per diluted share $3.64 - $3.68
- Same Property Net Operating Income Growth (ex. termination fees) +15.5% to +16.5%
- Included Impact of 2020 Reserve Collection on SP NOI Range +650bps
Headwinds
- Certain Non-Cash Items +/- $36,000
- Net G&A expense $75,000 - $76,000
- Net interest expense $165,500 - $166,500
- Recurring Third Party Fees & Commissions $24,500 - $25,500
- Transaction Income (JV Promote) $13,589
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+1.0%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+1.9%
Avg return
30 days after
71%
46 / 65 earnings
Positive
+10.0%
Q1 2020
Best reaction
-7.5%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.9% | -0.6% | -2.6% | |
| Q4 2025 | -0.3% | +1.3% | +4.2% | |
| Q3 2025 | -3.1% | -3.7% | -0.5% | |
| Q2 2025 | +0.8% | +0.6% | +1.0% | |
| Q1 2025 | +0.5% | +0.9% | +0.4% | |
| Q4 2024 | +1.5% | +2.0% | +1.4% | |
| Q3 2024 | +2.0% | +0.6% | +6.9% | |
| Q2 2024 | +4.4% | +3.6% | +7.9% | |
| Q1 2024 | -0.2% | +0.6% | +3.9% | |
| Q4 2023 | -1.0% | -2.5% | -0.1% | |
| Q3 2023 | +3.4% | -0.9% | +5.5% | |
| Q2 2023 | +0.9% | -0.3% | -5.0% | |
| Q1 2023 | +1.8% | -1.3% | -2.3% | |
| Q4 2022 | +0.9% | +1.0% | -10.0% | |
| Q3 2022 | +5.1% | +4.1% | +8.8% | |
| Q2 2022 | +0.0% | +1.5% | -3.7% | |
| Q1 2022 | +8.7% | +2.2% | +0.5% | |
| Q4 2021 | -7.5% | -8.4% | -7.5% | |
| Q3 2021 | +2.1% | -0.9% | -3.5% | |
| Q2 2021 | +5.3% | +5.1% | +10.0% | |
| Q1 2021 | +4.5% | +3.2% | +5.2% | |
| Q4 2020 | +4.9% | +4.1% | +17.9% | |
| Q3 2020 | -5.2% | +30.2% | +36.7% | |
| Q2 2020 | +0.1% | +1.5% | +0.0% | |
| Q1 2020 | +10.0% | +1.0% | +33.2% | |
| Q4 2019 | +0.3% | +2.2% | -11.8% | |
| Q3 2019 | -1.9% | -3.3% | -5.1% | |
| Q2 2019 | -1.4% | -3.7% | -3.3% | |
| Q1 2019 | -0.7% | -3.2% | -2.0% | |
| Q4 2018 | +0.7% | +1.5% | -0.9% | |
| Q3 2018 | +2.1% | +3.4% | +0.0% | |
| Q2 2018 | +1.9% | -0.4% | +3.8% | |
| Q1 2018 | +0.8% | -0.0% | -0.6% | |
| Q4 2017 | -1.4% | +0.0% | +2.7% | |
| Q3 2017 | +6.1% | +4.4% | +10.6% | |
| Q2 2017 | +1.0% | +0.7% | -2.1% | |
| Q1 2017 | +2.3% | -1.3% | +0.5% | |
| Q4 2016 | +2.3% | +2.8% | -9.7% | |
| Q3 2016 | -4.5% | -3.8% | -9.1% | |
| Q2 2016 | -1.0% | -2.5% | -5.2% | |
| Q1 2016 | +2.9% | — | — | |
| Q4 2015 | -1.7% | — | — | |
| Q3 2015 | +1.0% | — | — | |
| Q2 2015 | -1.1% | — | — | |
| Q1 2015 | +2.3% | — | — | |
| Q4 2014 | +0.7% | — | — | |
| Q3 2014 | +3.1% | — | — | |
| Q2 2014 | +2.2% | — | — | |
| Q1 2014 | +2.4% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2013 | -1.8% | — | — | |
| Q2 2013 | +0.4% | — | — | |
| Q1 2013 | +2.2% | — | — | |
| Q4 2012 | -1.2% | — | — | |
| Q3 2012 | -3.0% | — | — | |
| Q2 2012 | +1.8% | — | — | |
| Q1 2012 | +3.3% | — | — | |
| Q4 2010 | +1.3% | — | — | |
| Q1 2010 | +1.3% | — | — | |
| Q4 2011 | +1.3% | — | — | |
| Q3 2011 | -4.7% | — | — | |
| Q2 2011 | +4.3% | — | — | |
| Q1 2011 | +0.9% | — | — | |
| Q3 2010 | +1.8% | — | — | |
| Q2 2010 | +0.4% | — | — |
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