NASDAQ: REG
Regency Centers
Real Estate · Real Estate Investment Trusts
52-week range
$66.86$83.66
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$13.9B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $7.22B |
| FY2017, ended Dec 31, 2017 | $11.8B |
| FY2018, ended Dec 31, 2018 | $9.83B |
| FY2019, ended Dec 31, 2019 | $10.6B |
| FY2020, ended Dec 31, 2020 | $7.74B |
| FY2021, ended Dec 31, 2021 | $12.9B |
| FY2022, ended Dec 31, 2022 | $10.7B |
| FY2023, ended Dec 31, 2023 | $12.4B |
| FY2024, ended Dec 31, 2024 | $13.4B |
| FY2025, ended Dec 31, 2025 | $12.6B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $13.9B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$1.59B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | — |
| FY2017, ended Dec 31, 2017 | $984M |
| FY2018, ended Dec 31, 2018 | $1.12B |
| FY2019, ended Dec 31, 2019 | $1.13B |
| FY2020, ended Dec 31, 2020 | $1.02B |
| FY2021, ended Dec 31, 2021 | $1.17B |
| FY2022, ended Dec 31, 2022 | $1.22B |
| FY2023, ended Dec 31, 2023 | $1.32B |
| FY2024, ended Dec 31, 2024 | $1.45B |
| FY2025, ended Dec 31, 2025 | $1.55B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $1.59B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $167M | — |
| FY2017, ended Dec 31, 2017 | $176M | $123M |
| FY2018, ended Dec 31, 2018 | $249M | $384M |
| FY2019, ended Dec 31, 2019 | $239M | $421M |
| FY2020, ended Dec 31, 2020 | $44.9M | $318M |
| FY2021, ended Dec 31, 2021 | $361M | $482M |
| FY2022, ended Dec 31, 2022 | $483M | $460M |
| FY2023, ended Dec 31, 2023 | $365M | $487M |
| FY2024, ended Dec 31, 2024 | $400M | $447M |
| FY2025, ended Dec 31, 2025 | $527M | $393M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $546M | $381M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$146M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $13.3M |
| FY2017, ended Dec 31, 2017 | $49.4M |
| FY2018, ended Dec 31, 2018 | $45.2M |
| FY2019, ended Dec 31, 2019 | $116M |
| FY2020, ended Dec 31, 2020 | $378M |
| FY2021, ended Dec 31, 2021 | $95.0M |
| FY2022, ended Dec 31, 2022 | $68.8M |
| FY2023, ended Dec 31, 2023 | $91.4M |
| FY2024, ended Dec 31, 2024 | $61.9M |
| FY2025, ended Dec 31, 2025 | $121M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $146M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$5.00B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $1.64B |
| FY2017, ended Dec 31, 2017 | $3.59B |
| FY2018, ended Dec 31, 2018 | $3.72B |
| FY2019, ended Dec 31, 2019 | $3.92B |
| FY2020, ended Dec 31, 2020 | $3.92B |
| FY2021, ended Dec 31, 2021 | $3.72B |
| FY2022, ended Dec 31, 2022 | $3.73B |
| FY2023, ended Dec 31, 2023 | $4.15B |
| FY2024, ended Dec 31, 2024 | $4.41B |
| FY2025, ended Dec 31, 2025 | $4.74B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $5.00B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 74.9% since 2016.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.183M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 105M |
| FY2017, ended Dec 31, 2017 | 171M |
| FY2018, ended Dec 31, 2018 | 168M |
| FY2019, ended Dec 31, 2019 | 168M |
| FY2020, ended Dec 31, 2020 | 170M |
| FY2021, ended Dec 31, 2021 | 171M |
| FY2022, ended Dec 31, 2022 | 171M |
| FY2023, ended Dec 31, 2023 | 185M |
| FY2024, ended Dec 31, 2024 | 181M |
| FY2025, ended Dec 31, 2025 | 183M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | 183M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.Net: $19.8M more issued than bought back
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| Period | Bought back | Paid to employees | Sold for cash | Used in acquisitions |
|---|---|---|---|---|
| FY2016, ended Dec 31, 2016 | — | — | — | — |
| FY2017, ended Dec 31, 2017 | $0 | $20.5M | $88.5M | — |
| FY2018, ended Dec 31, 2018 | $214M | $13.6M | $0 | — |
| FY2019, ended Dec 31, 2019 | $32.8M | $14.3M | $0 | — |
| FY2020, ended Dec 31, 2020 | $0 | $13.6M | $126M | — |
| FY2021, ended Dec 31, 2021 | — | $12.5M | $82.5M | — |
| FY2022, ended Dec 31, 2022 | $75.4M | $16.5M | $61.3M | — |
| FY2023, ended Dec 31, 2023 | $20.0M | $20.1M | −$33.0K | $225M |
| FY2024, ended Dec 31, 2024 | $200M | $23.5M | — | — |
| FY2025, ended Dec 31, 2025 | — | $19.5M | $98.2M | — |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | — | $19.8M | — | — |
Revenue (TTM)
$1.59B
+7.8% YoY
Net income (TTM)
$546M
+36.5% YoY
Cash
$146M
+85.3% YoY
Total debt
$5.00B
+7.8% YoY
Valuation
At current price- Market Cap
- $13.7B
- P/E
- 25.0×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 8.6×
- Price / Book
- 2.0×
- EV / EBITDA
- 11.9×
Growth
Trailing 12 months- Revenue (TTM)
- $1.59B
- Revenue Growth YoY
- 7.8%
- Revenue CAGR 3Y
- 8.3%
- Revenue CAGR 5Y
- 8.9%
- EPS Growth YoY
- —. Diluted EPS, TTM vs. TTM a year earlier
- Net Income Growth YoY
- 36.5%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 72.3%
- Net Margin
- 34.5%
- FCF Margin
- 24.0%
- Return on Equity
- 8.0%
Earnings
Trailing 12 months- Net Income
- $546M
- EPS (diluted)
- —
- EBITDA
- $1.56B
- Operating Income
- $1.15B
Balance Sheet
As of Mar 31, 2026- Cash and cash equivalents
- $146M
- Total Debt
- $5.00B
- Net Debt
- $4.86B
- Total Assets
- $13.0B
- Total Liabilities
- $5.88B
- Shareholders' Equity
- $6.89B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $819M
- Capital Expenditure
- $439M
- Free Cash Flow
- $381M
Dividends and risk
Last 12 months- Dividend Yield
- 4.0%
- Dividend / Share
- $3.02
- Beta (5Y)
- 0.80
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 7.8% year over year, at $1.59B.
Strength
Keeps 72.3% of revenue as operating profit.
Watch
Net debt is 3.1× EBITDA ($4.86B), a heavy load.
Strength
Turns 24.0% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 13, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K67Mildly positive
67Mildly positive
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 14, 2025 · Read the filing on EDGAR
- Revenue rose 9.9% to $1.45 billion and profit for common shareholders rose 7.6% to $386.7 million, helped by a full year of the Urstadt Biddle acquisition.
- Leasing strengthened: the portfolio reached 96.3% leased, up from 95.1%, and rents on new and renewed leases rose 9.5%.
- Moody's upgraded Regency's credit rating to A3, and the company sold $725 million of new notes while repaying $250 million of maturing notes.
- Share buybacks jumped to $200.1 million from $20.0 million, and spending on development and property improvements rose to $343.4 million from $232.9 million.
Business momentum
Improving
“During the year ended December 31, 2024, we had Net income attributable to common shareholders of $386.7 million as compared to $359.5 million during the year ended December 31, 2023 with the increase primarily related to the 2023 acquisition of UBP.”
Outlook
Neutral
“we believe our available capital resources are sufficient to meet our expected capital needs for the next year, although, in the longer term, we can provide no assurances”
Financial stress
Low
“At December 31, 2024, we had $1.4 billion available on the Line, which expires on March 23, 2028 unless we exercise the available options to extend the maturity for two additional six-month periods”
Tone against the previous report
More positive
Red flags
None found in this report.
Positives
Higher occupancy across the portfolio
“At December 31, 2024, our total property portfolio was 96.3% leased while our same property portfolio was 96.7% leased, compared to 95.1% and 95.7%, respectively, at December 31, 2023.”
Income grew at properties owned in both years
“Our Pro-rata same property NOI, excluding termination fees, grew 3.1%”
Credit rating upgrade
“We received a credit rating upgrade to A3 with a stable outlook from Moody's Investors Service”
Concerns
Much of the revenue growth came from an acquisition
“$63.0 million increase resulting from the acquisition of UBP;”
Interest costs are rising, and new debt will likely cost more
“we believe we can obtain new financing on reasonable terms, although likely at higher interest rates than that of our debt currently outstanding”
Inflation is raising the cost of development projects
“These capital requirements are being impacted by inflation resulting in increased costs of construction materials, labor, and services from third party contractors and suppliers.”
New risks since the previous report
Immigration policy changes could worsen tenants' labor shortages
“Changes in immigration policies or restrictions, as well as shifts in labor availability due to immigration trends, may further contribute to labor shortages, impacting our tenants' operations and profitability.”
Rising insurance costs for properties in disaster-prone states
“Insurance premiums and other related costs for properties in these areas have increased significantly in recent years”
Staff or vendor use of AI could leak data or lead to flawed decisions
“Moreover, generative AI or machine learning models may create incomplete, inaccurate, or otherwise flawed outputs, which may appear correct.”
Biggest risks named
- Higher interest rates raising borrowing costs and lowering property values
- Economic pressures such as inflation, tariffs and recession straining tenants
- Tenant bankruptcies and loss of anchor or local tenants
- Reliance on outside capital and refinancing of debt
- Climate and natural disaster exposure in California, Florida and Texas
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | 0 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −1.5 | |
| Score | 67 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 13, 2026 | Pro | |||
| 10-K | Feb 14, 2025 | 67 | Improving | None | |
| 10-K | Feb 16, 2024 | 53 | Mixed | None | |
| 10-K | Feb 17, 2023 | 69 | Strong improvement | None | |
| 10-K | Feb 17, 2022 | 67 | Strong improvement | 1 medium | |
| 10-K | Feb 17, 2021 | 36 | Sharp deterioration | 1 medium | |
| 10-K | Feb 18, 2020 | 56 | Stable | 1 medium | |
| 10-K | Feb 21, 2019 | 67 | Strong improvement | 1 medium | |
| 10-K | Feb 27, 2018 | 70 | Strong improvement | None | |
| 10-K | Feb 27, 2017 | 64 | Improving | 1 medium1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2026 (period ended Mar 31, 2026), filed May 4, 2026. View filings on SEC EDGAR