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.

   

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%
 
           

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.

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.