Regency Centers Corporation

EVgo and Regency Centers announced an expanded partnership on Wednesday to add more than 400 EV charging stalls at Regency shopping centers across the U.S., building on the 150-plus stalls EVgo already operates at Regency properties. The new chargers are expected to increase Regency Centers' EV charging footprint by more than 20 percent. The rollout will cover retail centers in Colorado, Florida, Illinois, New Jersey, New York, Pennsylvania, Texas, Virginia, and other states, mainly at high-density, grocery-anchored locations. Each new site can feature up to 24 high-power chargers, with speeds capable of delivering a full charge in as little as 15 minutes, depending on the vehicle. The expansion strengthens EVgo's charging network while supporting Regency Centers' broader EV infrastructure and sustainability goals.

Regency Centers Corporation reported second-quarter 2026 NAREIT funds from operations of $1.21 per share, beating the Zacks Consensus Estimate of $1.20 by 0.8% and rising 4.3% from a year ago. Total revenues grew 8.6% to $413.5 million, topping the $405 million consensus, driven by leasing momentum that pushed same-property net operating income up 3.8%. The same-property portfolio was 96.9% leased, up 40 basis points year over year, with a signed-not-occupied pipeline representing about $41 million of annual base rent. Regency raised its full-year 2026 NAREIT FFO guidance to a range of $4.84 to $4.88 per share from the prior $4.83 to $4.87, and lifted same-property NOI growth guidance to 3.7% to 4.1% from 3.25% to 3.75%, citing higher tenant recoveries and better average commenced occupancy.

Regency Centers continues to benefit from its portfolio of grocery-anchored shopping centers in affluent suburban markets, with first-quarter 2026 leasing spreads reaching 12.1% and same-property net operating income rising 4.4%. The company signed 1.5 million square feet of comparable new and renewal leases, while same-property occupancy held at 96.6%. Regency has 322 signed but not yet commenced leases representing $42.2 million in annual base rent, and its in-process development and redevelopment projects total $635 million at an estimated blended yield of 9%. Financial strength is supported by $1.5 billion in available credit and $145.6 million in cash, with leverage at 5.2 times net debt and preferred stock to operating EBITDAre. However, e-commerce competition, a $5 billion debt load, and concentration in California and Florida pose risks, while the $635 million pipeline carries execution uncertainty. The Zacks Consensus Estimate for 2026 funds from operations per share remains at $4.85, and the stock has gained 8.5% over the past three months, underperforming the industry's 13.2% gain.