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Regency Centers Posts Strong 2Q Results

JACKSONVILLE, FL-The retail REIT's performance reflects that of its primary tenants.

By Carl Cronan | Updated on August 07, 2008

JACKSONVILLE, FL-Regency Centers Corp., the locally based retail REIT heavily weighted in grocery-anchored and community shopping centers, posted favorable second-quarter sales results after Wednesday’s market close. But whether it can maintain that pace in future quarters will depend greatly on its primary tenants.

Executives discussed the company’s 4% annualized gain in funds from operations during a Thursday morning conference call. They pointed out that future results would rely largely on economic conditions and a rebound in the nation’s housing market.

“We are working in very challenging times,” says Brian Smith, chief investment officer of Regency Centers. He believes the REIT’s well-located shopping centers with desirable anchor tenants will fare much better once residential real estate returns to an up cycle.

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