Regency Centers Corporation 6.25% Series A Cumulative Redeemable Preferred Stock

Regency Centers Corporation (Nasdaq: REG) is a self-administered, self-managed real estate investment trust and S&P 500 member. It owns, operates and develops grocery-anchored shopping centers in suburban trade areas across the United States. Its centers are merchandised with grocers, restaurants, service providers and retailers.

As of September 30, 2026, the portfolio included 486 properties (477 retail operating) totaling about 59.2 million square feet of GLA, including properties held in real estate partnerships. Same-property occupancy was 97.0% leased.

Revenue comes mainly from lease income: base rent, tenant expense recoveries and percentage rent. The company also earns property management, asset management and leasing fees from its real estate partnerships, which include joint ventures with the State of Oregon and GRI.

Annual base rent is concentrated in California (24.5%), Florida (18.6%), New York (9.0%) and Connecticut (8.3%), and 85.3% of rent comes from the top 50 U.S. CBSAs by population. Grocery tenants account for about 20% of rent. Major tenants include Publix, Amazon/Whole Foods, TJX, Albertsons, Kroger and Ahold Delhaize.

Regency runs an active ground-up development and redevelopment program, with $682 million of in-process projects at a blended estimated yield of about 9%. Recent starts and acquisitions are anchored by grocers such as Whole Foods, Sprouts, Publix, Stop & Shop, Market Basket and Aldi. The company also acquires centers directly and through joint ventures.

Regency's senior unsecured debt is rated A- by S&P and A3 by Moody's, both with stable outlooks. As of September 30, 2026, total capitalization was about $19 billion and total pro-rata debt was about $5.5 billion. Updated Nov 5, 2026