Analyst Ki Bin Kim from Truist Financial maintained a Buy rating on Regency Centers (REG – Research Report) and keeping the price target at $78.00.
Ki Bin Kim has given his Buy rating due to a combination of factors including Regency Centers’ strong financial performance and its high-quality tenant base. The company reported a NAREIT FFO per share of $1.15, surpassing both the analyst’s and consensus estimates, which were $1.12 and $1.13 respectively. This performance was bolstered by lower than anticipated bad debt levels, showcasing the resilience of its tenant roster.
Furthermore, Regency Centers has demonstrated a promising growth trajectory with a signed but not open pipeline valued at $46 million, up from $44.3 million in the previous quarter. This pipeline is expected to contribute significantly to the company’s revenue, with a substantial portion of the built-in upside anticipated to be realized by the end of 2025 and 2026. These factors collectively underpin the Buy rating, indicating confidence in the company’s ability to deliver strong financial results moving forward.
In another report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $82.00 price target.