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Regency Centers Corp. (REG) is set to report third-quarter 2024 earnings on Oct. 28, after the market closes. The Jacksonville, FL-based retail REIT reported NAREIT funds from operations (FFO) per share of $1.06 in the last quarter, surpassing the Zacks Consensus Estimate of $1.02.
For the current quarter, analysts expect Regency to report revenues of $354.5 million, marking a 7.2% increase year-over-year. However, rising e-commerce adoption and high interest expenses could negatively impact performance. The consensus estimate for FFO per share remains at $1.04, indicating nearly 2% growth from the prior year’s quarter.
Concerns linger over a drop in net absorption in U.S. shopping centers during Q3, now at -0.26 million square feet, alongside a persistent national vacancy rate of 5.4%, with asking rents up 3.4% year-over-year to $24.54 per square foot.
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