Regency Centers CorporationREG
NasdaqGS•Real Estate•REIT - Retail
Regency Centers Corporation is a fully integrated real estate company and self-administered and self-managed real estate investment trust that began its operations as a publicly-traded REIT in 1993. The Company conducts substantially all of its operations, and owns, directly or indirectly, substantially all of its assets. Our business consists of acquiring, developing, owning, and operating income-producing retail real estate principally located in suburban trade areas with compelling demographics within the United States of America. Regency has been an S&P 500 Index member since 2017. We are a preeminent national owner, operator, and developer of neighborhood and community shopping centers. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect with their neighborhoods, communities, and customers. Regency Centers Corporation was incorporated in 1963 and is based in Jacksonville, Florida.
Regency Centers Corporation (REG) reported trailing twelve months revenue of $1.59B as of March 2026, a 13.6% decline year-over-year. Quarterly revenue reached $412.45M, reflecting a contraction in sales.
Regency Centers Corporation generated $546.42M in TTM net income, with quarterly EBITDA of $402.82M. The operating margin expanded from 71.8% to 71.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (71.9%) and net margin (31.2%) indicates significant non-operating expenses or interest burden. Net margin has improved from 28.8% a year ago, signaling stronger bottom-line efficiency.
REG trades at a P/E of 25.6x (in line with broad market averages) and a P/S of 8.8x. The price-to-book ratio of 2.0x reflects a moderate premium to book value.
The company generated $24.82M in free cash flow over the trailing twelve months, a 58.2% decrease year-over-year, indicating cash generation ability. The balance sheet shows $13.05B in total assets with $4.97B in long-term debt against $6.89B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~71.8%, suggesting durable pricing power and cost discipline.
ROE is positive at ~7.1% on average, adequate but below the threshold typically associated with wide moats.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (6 of 7 quarters up), with ~15.8% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~72.3% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation