Attached files
| file | filename |
|---|---|
| 8-K - 8-K - REGENCY CENTERS CORP | reg8-k11116.htm |
Exhibit 99.1
Regency Centers Updates 2015 and Introduces 2016 Earnings Guidance
JACKSONVILLE, Fla. (January 11, 2016) - Regency Centers Corporation (“Regency” or the “Company”) 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.
Updated Full-Year 2015 Guidance
Previous Guidance | Updated Guidance | |
Core Funds From Operations ("Core FFO") per diluted share | $3.00 - $3.03 | $3.02 - $3.04 |
NAREIT Funds From Operations (“NAREIT FFO”) per diluted share | $2.89 - $2.92 | $2.90 - $2.92 |
Same Property Net Operating Income (“SPNOI”) Growth excluding termination fees (pro-rata) | 4.0% - 4.3% | +/- 4.4% |
Initial Full-Year 2016 Guidance
Core FFO per diluted share | $3.20 - $3.26 |
NAREIT FFO per diluted share | $3.18 - $3.24 |
SPNOI Growth excluding termination fees (pro-rata) | 2.75% - 3.50% |
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Reconciliation of Net Income attributable to Common Stockholders to NAREIT FFO and
Core FFO
Full Year | Full Year | |||||||||||
NAREIT FFO and CORE FFO Guidance | 2015 | 2016 | ||||||||||
Net income attributable to common stockholders | $ | 1.34 | 1.36 | $ | 1.29 | 1.35 | ||||||
Adjustments to reconcile net income to NAREIT FFO: | ||||||||||||
Depreciation and amortization | 1.91 | 1.91 | 1.89 | 1.89 | ||||||||
Gain on sale of operating properties | (0.38 | ) | (0.38 | ) | 0.00 | 0.00 | ||||||
All other amounts | 0.03 | 0.03 | 0.00 | 0.00 | ||||||||
NAREIT Funds From Operations | $ | 2.90 | 2.92 | $ | 3.18 | 3.24 | ||||||
Adjustments to reconcile NAREIT FFO to Core FFO: | ||||||||||||
Development and acquisition pursuit costs | 0.02 | 0.02 | 0.02 | 0.02 | ||||||||
Early extinguishment of debt | 0.08 | 0.08 | 0.00 | 0.00 | ||||||||
Change in executive management | 0.02 | 0.02 | 0.00 | 0.00 | ||||||||
All other non-core amounts | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Core Funds From Operations | $ | 3.02 | 3.04 | $ | 3.20 | 3.26 | ||||||
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.
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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.
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