JACKSONVILLE, FL—Regency Centers Corp. releasedfavorable third quarter financing and operating results on Mondaythat included a 4.1% increase in net operating income and corefunds from operations per share growth of 9.2%.

|

The owner, operator and developer of retail properties postedthird quarter core funds from operations in the third quarter of2014 of $65.5 million, or $0.71 per diluted share, compared to$60.2 million, or $0.65 per diluted share, for the same period in2013. For the nine months, which ended Sept. 30, 2014, core FFO was$195.5 million, or $2.11 per diluted share, compared to $180.3million, or $1.97 per diluted share, for the same period in2013.

|

Regency reported net income for the third quarter of this yearof $47.9 million, or $0.52 per diluted share, compared to netincome of $35 million, or $0.38 per diluted share, for the sameperiod in 2013. For the first nine months of this year, net incomewas $92.8 million, or $1.00 per diluted share, compared to $82.4million, or $0.90 per diluted share in the third quarter of2013.

|

Other key operating results included in the company's thirdquarter report included a portfolio-wide same properties leasedrate of 95.8%, and an all properties' leased rate of 95.3%. Thecompany reported same space rental rate growth (on a cash basis forspaces vacant less than 12 months) of 22.8% on new leases and 9.9%on renewal transactions. The overall rental rate growth was 12.3%in the third quarter. The company also reports that it concluded357 lease transactions totaling 1.3 million square feet during thethird quarter.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.