Feb 6 (Reuters) - Regency Centers REG.O topped fourth-quarter estimates for funds from operations on Thursday, as the commercial real estate company benefited from strong leasing demand at its grocery-anchored shopping centers.
WHY IT'S IMPORTANT
Stable demand for groceries at tenants such as Target TGT.N and Kroger KR.N has helped companies such as Regency and peer Kimco Realty KIM.N raise rental rates.
BY THE NUMBERS
Regency, which also counts Ulta Beauty ULTA.O and TJ Maxx parent TJX TJX.N among its tenants, reported FFO of $1.09 per share for the quarter ended December 31, compared with analysts' average estimate of $1.07 per share, according to data compiled by LSEG.
The company expects 2025 National Association of Real Estate Investment Trusts (Nareit) FFO per share to be in the range of $4.52 to $4.58, up from the $4.30 Nareit FFO it reported in 2024.
KEY QUOTE
"As our grocery partners and other tenants look to further expand their footprints, high-quality space in top trade areas is hard to come by, creating an opportunity for us to leverage our platform," Lisa Palmer, Regency's chief executive officer, said on a post-earnings call.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Mohammed Safi Shamsi)
((Juveria.Tabassum@thomsonreuters.com;))
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