Analyst Ronald Kamdem from Morgan Stanley maintained a Buy rating on Regency Centers and keeping the price target at $88.00.
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Ronald Kamdem has given his Buy rating due to a combination of factors tied to Regency Centers’ solid fundamentals and growth pipeline. Despite a modest first-quarter FFO miss versus expectations, management reaffirmed its 2026 NAREIT FFO outlook in line with consensus and kept key expense and NOI growth assumptions unchanged, signaling confidence in the earnings trajectory.
He also highlights the company’s strong operating metrics, including robust same-store NOI growth, high leased rates, and healthy leasing spreads, which support stable cash flows. In addition, the roughly $635 million redevelopment pipeline with attractive expected yields and an uptick in planned acquisition and (re)development spending are seen as key drivers of above-peer FFO growth, all while leverage and the dividend profile remain well managed.
Ronald Kamdem has given his Buy rating due to a combination of factors that underscore Regency Centers’ earnings visibility and growth potential. While first-quarter FFO came in slightly below consensus, management reiterated its full-year 2026 NAREIT FFO guidance in line with market expectations, and maintained guidance for same-store NOI growth, general and administrative expenses, and interest costs, suggesting no deterioration in the underlying outlook.
He also points to resilient property-level performance, with solid same-store NOI trends, high occupancy, and double-digit cash releasing spreads supporting durable income. The company’s approximately $635 million development and redevelopment pipeline, offering attractive projected returns, alongside increased guidance for acquisitions and (re)development investment, is expected to fuel above-average FFO growth, and this supports the unchanged $88 price target.
In another report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $90.00 price target.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of REG in relation to earlier this year.