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JACKSONVILLE, Fla. - Regency Centers Corporation (NASDAQ:REG), a leading real estate investment trust (REIT), has announced the pricing of a $400 million public offering of senior unsecured notes due 2032. The notes were issued at 99.279% of par value and carry a 5.00% coupon rate. Interest is to be paid semiannually, with the first payment scheduled for January 15, 2026. According to InvestingPro data, Regency Centers maintains a solid financial health score of 2.73 (rated as GOOD), with particularly strong cash flow metrics.
The notes, guaranteed by the company, are set to mature on July 15, 2032. Regency intends to use the net proceeds to reduce its line of credit, pay off $250 million in outstanding 3.90% notes due November 1, 2025, and for general corporate purposes, which may include repaying other debts. The company has demonstrated strong dividend reliability, having maintained payments for 32 consecutive years and raised dividends for 11 straight years, as highlighted in InvestingPro’s analysis.
The offering, subject to customary closing conditions, is expected to be settled on May 13, 2025. A consortium of banks, including Wells Fargo Securities, BofA Securities, and J.P. Morgan Securities, among others, are managing the transaction as joint book-running managers.
Regency Centers operates as a fully integrated real estate company and is a member of the S&P 500 Index. The company’s portfolio is composed of shopping centers located in areas with strong demographics and includes a mix of grocers, restaurants, service providers, and retailers.
The offering is made under Regency’s existing shelf registration filed with the U.S. Securities and Exchange Commission. Potential investors are advised to read the prospectus and related documents filed with the SEC for more complete information about the offering.
This press release is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any security. The offering will not be valid in jurisdictions where it would be unlawful to make such an offer or solicitation.
Statements in this document may be forward-looking and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, market conditions and other factors detailed in Regency’s SEC filings. Regency undertakes no duty to update its forward-looking statements except as required by law. Based on current market conditions, InvestingPro’s Fair Value analysis suggests the stock is currently trading above its intrinsic value, with analysts maintaining price targets between $75 and $84 per share.
In other recent news, Regency Centers Corporation reported impressive financial results for the first quarter of 2025. The company surpassed earnings expectations with an earnings per share (EPS) of 1.09, significantly higher than the projected 0.5458. Regency Centers also exceeded revenue forecasts, reporting $381.79 million against a predicted $375.3 million. The company reaffirmed its 2025 earnings outlook, projecting a NAREIT FFO growth of nearly 6% and same property NOI growth of 3.6%. Additionally, Regency Centers maintained its annual development project start pace at $250 million. In terms of acquisitions, the company recently acquired Brentwood Place in Tennessee, a high-quality asset with potential for significant growth. The acquisition was completed with the support of Regency’s strong balance sheet, which was recently upgraded to an A- credit rating by S&P. Regency Centers continues to focus on development and redevelopment projects, leveraging its strategic advantages to drive growth.
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