Regency Centers Corporation (“Regency” or the “Company”) (NYSE: REG) today
announced updated 2015 and initial full-year 2016 earnings guidance.
Selected items are listed herein and a complete listing of guidance
components is included on the Company’s website at investors.regencycenters.com.
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Updated Full-Year 2015 Guidance
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Previous Guidance
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Updated Guidance
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Core Funds From Operations (“Core FFO”) per diluted share
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$3.00 – $3.03
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$3.02 – $3.04
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NAREIT Funds From Operations (“NAREIT FFO”) per diluted share
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$2.89 – $2.92
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$2.90 – $2.92
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Same Property Net Operating Income (“SPNOI”) Growth excluding
termination fees (pro-rata)
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4.0% – 4.3%
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+/- 4.4%
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Initial Full-Year 2016 Guidance
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Core FFO per diluted share
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$3.20 – $3.26
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NAREIT FFO per diluted share
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$3.18 – $3.24
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SPNOI Growth excluding termination fees (pro-rata)
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2.75% – 3.50%
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Reconciliation of Net Income attributable to Common
Stockholders to NAREIT FFO and Core FFO
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Full Year
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Full Year
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NAREIT FFO and Core FFO Guidance:
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2015
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2016
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Net income attributable to common stockholders
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$
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1.34
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1.36
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$
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1.29
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1.35
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Adjustments to reconcile net income to NAREIT FFO:
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Depreciation and amortization
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1.91
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1.91
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1.89
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1.89
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Gain on sale of operating properties
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(0.38
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(0.38
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0.00
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0.00
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All other amounts
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0.03
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0.03
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0.00
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0.00
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NAREIT Funds From Operations
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$
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2.90
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2.92
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$
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3.18
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3.24
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Adjustments to reconcile NAREIT FFO to Core FFO:
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Development and acquisition pursuit costs
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0.02
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0.02
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0.02
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0.02
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Early extinguishment of debt
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0.08
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0.08
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0.00
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0.00
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Change in executive management
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0.02
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0.02
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0.00
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0.00
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All other non-core amounts
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0.00
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0.00
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0.00
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0.00
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Core Funds From Operations
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$
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3.02
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3.04
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$
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3.20
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3.26
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About Regency Centers Corporation (NYSE: REG)
With more than 50 years of experience, Regency is the preeminent
national owner, operator and developer of high-quality, grocery-anchored
neighborhood and community shopping centers. The Company’s portfolio of
318 retail properties encompasses over 42.7 million square feet located
in top markets throughout the United States, including co-investment
partnerships. Regency has developed 219 shopping centers since 2000,
representing an investment at completion of more than $3 billion.
Operating as a fully integrated real estate company, Regency is a
qualified real estate investment trust that is self-administered and
self-managed.
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 with the SEC,
specifically the most recent reports on Forms 10-K and 10-Q, which
identify important risk factors which could cause actual results to
differ from those contained in the forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160111005815/en/
Copyright Business Wire 2016