Regency Centers Corp. reported a slight increase in third-quarter earnings and raised its forecasts for the full year, with the Jacksonville-based shopping center developer saying its properties are performing well.
“This is evident in our strong rent growth, our sizable leasing pipeline, our same-property leased occupancy rate, which we’ve now pushed above 96%, another record high for shop occupancy and accelerating same-property NOI (net operating income) growth,” CEO Lisa Palmer said in an Oct. 29 conference call.
“As a result, we’re raising current year guidance and now expect same property NOI growth of 3.5% and core operating earnings per share growth of nearly 5%,” she said.