NASDAQ · Real Estate

Regency Centers Corporation

REG · REIT - Retail

$80.30

▲ 0.01 (0.01%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

N/A⤢

Fin. Health

D⤢

Years to Pay Off Debt 43.5 yrs

Working Capital vs Long-Term Debt -$4.8B

Working Capital $199M

Valuation

F⤢

Margin of Safety 0.0%

Price-to-Book 1.99x

Cash Flow

N/A⤢

Financial Health

Years to Pay Off Debt 43.5 yrs

Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.

Working Capital vs Long-Term Debt -$4.8B

Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.

Working Capital $199M

Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

About Regency Centers Corporation

Regency Centers Corporations is a pre-eminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. Regency Centers Corporation was incorporated in 1963 and is based in Jacksonville, Florida.

Market Data

Market Cap N/A

Enterprise Value $20.2B

P/E (TTM) 27.04

Dividend Yield 3.70%

Exchange NASDAQ

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin N/A

Company Info

Sector Real Estate

Industry REIT - Retail

Employees 503

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Regency Centers Corporation at $80.30.

The business passes only 1 of 6 of Graham's defensive criteria — well below his required standard.

At $80.30, the stock trades at a 241% premium to its Graham Number of $23.56. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

Showing Key Metrics

Income Highlights

Metric	Q2 2026	Q4 2025	Q4 2024
Gross Profit %	N/A•	69.9%•	N/A
Operating Margin %	N/A•	36.6%•	N/A
Net Income %	N/A•	50.1%•	N/A
Diluted EPS	0.61▼	1.09•	N/A

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$13.0B	$13.0B	N/A
Total Debt	$5.6B▲	$5.3B•	N/A
Working Capital	$199M▲	-$101M•	N/A
Years to Pay Debt	43.54	26.36	N/A

Cash Flow Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Free Cash Flow	N/A•	N/A•	N/A
Owner Earnings	N/A	N/A	N/A
CapEx % of Net Income	N/A	N/A	N/A

Income Statement

	2026	2025	2024
Tax Effect Of Unusual Items		4,164
Tax Rate For Calcs		0
Normalized EBITDA		346,850
Total Unusual Items		19,830
Total Unusual Items Excluding Goodwill		19,830
Net Income From Continuing Operation Net Minority Interest		202,479
Reconciled Depreciation		100,308
Reconciled Cost Of Revenue		127,158
EBITDA		366,680
EBIT		260,744
Net Interest Income		-49,833
Interest Expense		52,612
Interest Income		2,779
Normalized Income		186,813
Net Income From Continuing And Discontinued Operation		202,479
Total Expenses		256,180
Diluted Average Shares	183,351	183,112
Basic Average Shares	183,097	182,902
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders		199,068
Net Income Common Stockholders		199,068
Otherunder Preferred Stock Dividend
Preferred Stock Dividends		3,411
Net Income		202,479
Minority Interests		-5,653
Net Income Including Noncontrolling Interests		208,132
Net Income Continuous Operations		208,132
Pretax Income		208,132
Other Income Expense		109,951
Special Income Charges		30	-14,304
Impairment Of Capital Assets		-30
Earnings From Equity Interest		90,121
Gain On Sale Of Security		19,800
Net Non Operating Interest Income Expense		-49,833
Interest Expense Non Operating		52,612
Interest Income Non Operating		2,779
Operating Income		148,014
Operating Expense		134,650
Other Operating Expenses		3,447
Depreciation Amortization Depletion Income Statement		105,936
Depreciation And Amortization In Income Statement		105,936
Selling General And Administration		25,267
General And Administrative Expense		25,267
Other Gand A		25,267
Gross Profit		282,664
Cost Of Revenue		121,530
Total Revenue		404,194
Operating Revenue		404,194

Balance Sheet

	2026	2025	2024
Treasury Shares Number	501	494
Preferred Shares Number	9,000	9,000
Ordinary Shares Number	183,088	182,902
Share Issued	183,589	183,397
Net Debt	4,862,836	4,634,644
Total Debt	5,597,148	5,338,123
Tangible Book Value	6,256,220	6,260,950
Invested Capital	11,671,769	11,421,191
Working Capital	199,102	-100,597
Net Tangible Assets	6,481,220	6,485,950
Capital Lease Obligations	593,214	598,822
Common Stock Equity	6,667,835	6,681,890
Preferred Stock Equity	225,000	225,000
Total Capitalization	11,866,769	11,526,191
Total Equity Gross Minority Interest	7,164,907	7,181,606
Minority Interest	272,072	274,716
Stockholders Equity	6,892,835	6,906,890
Gains Losses Not Affecting Retained Earnings	-2,687	-4,220
Other Equity Adjustments	-2,687	-4,220
Treasury Stock	32,207	31,075
Retained Earnings	-2,001,870	-1,988,782
Additional Paid In Capital	8,702,768	8,704,138
Capital Stock	226,831	226,829
Common Stock	1,831	1,829
Preferred Stock	225,000	225,000
Total Liabilities Net Minority Interest	5,881,577	5,819,677
Total Non Current Liabilities Net Minority Interest	5,650,692	5,307,830
Other Non Current Liabilities	83,544	89,707
Long Term Debt And Capital Lease Obligation	5,567,148	5,218,123
Long Term Capital Lease Obligation	593,214	598,822
Long Term Debt	4,973,934	4,619,301
Current Liabilities	230,885	511,847
Current Debt And Capital Lease Obligation	30,000	120,000
Current Debt	30,000	120,000
Line Of Credit	30,000	120,000
Payables And Accrued Expenses	200,885	391,847
Payables	200,885	391,847
Accounts Payable	200,885	391,847
Total Assets	13,046,484	13,001,283
Total Non Current Assets	12,616,497	12,590,033
Other Non Current Assets	49,149	34,575
Non Current Deferred Assets	105,239	103,783
Financial Assets	6,989	6,778
Investments And Advances	407,017	401,229
Other Investments	48,397	51,373
Long Term Equity Investment	358,620	349,856
Investment Properties	11,305,301	11,294,196
Goodwill And Other Intangible Assets	411,615	420,940
Other Intangible Assets	244,876	254,201
Goodwill	166,739	166,739
Net PPE	331,187	328,532
Gross PPE	331,187	328,532
Other Properties	313,508	315,804
Machinery Furniture Equipment	17,679	12,728
Current Assets	429,987	411,250
Assets Held For Sale Current			0
Restricted Cash	4,462	16,004
Receivables	284,427	290,589
Other Receivables	76,114	80,140
Accounts Receivable	208,313	210,449
Cash Cash Equivalents And Short Term Investments	141,098	104,657
Cash And Cash Equivalents	141,098	104,657

Cash Flow

	2026	2025	2024
Repurchase Of Capital Stock	-8,672	-2,057
Repayment Of Debt	-436,207	-329,161
Issuance Of Debt	702,192	140,000
Issuance Of Capital Stock	8	49,045
Interest Paid Supplemental Data	80,288	24,433
Income Tax Paid Supplemental Data			610
End Cash Position	145,560	120,661
Beginning Cash Position	120,661	205,595
Changes In Cash	24,899	-84,934
Financing Cash Flow	-32,903	-272,453
Cash Flow From Continuing Financing Activities	-32,903	-272,453
Net Other Financing Charges	-10,896	1,428
Cash Dividends Paid	-279,328	-131,708
Preferred Stock Dividend Paid	-3,413	-3,411
Common Stock Dividend Paid	-275,915	-128,297
Net Common Stock Issuance	-8,664	46,988
Common Stock Payments	-8,672	-2,057
Common Stock Issuance	8	49,045
Net Issuance Payments Of Debt	265,985	-189,161
Net Long Term Debt Issuance	265,985	-189,161
Long Term Debt Payments	-436,207	-329,161
Long Term Debt Issuance	702,192	140,000
Investing Cash Flow	-94,927	-16,429
Cash Flow From Continuing Investing Activities	-94,927	-16,429
Net Other Investing Changes	39,029	19,933
Dividends Received Cfi	1,555	157
Net Investment Purchase And Sale	2,047	49,978
Sale Of Investment	5,182	53,520
Purchase Of Investment	-3,135	-3,542
Net Investment Properties Purchase And Sale	-114,719	-54,573
Sale Of Investment Properties	11,830	73,908
Purchase Of Investment Properties	-126,549	-128,481
Net Business Purchase And Sale	-22,839	-31,924
Purchase Of Business	-22,839	-31,924
Operating Cash Flow	152,729	203,948
Cash Flow From Continuing Operating Activities	152,729	203,948
Dividend Received Cfo	16,149	16,772
Change In Working Capital	-77,357	-21,219
Change In Other Working Capital	-5,299	-5,185
Change In Other Current Liabilities	-6,353	8,860
Change In Other Current Assets	-25,405	11,280
Change In Payables And Accrued Expense	-45,946	-19,851
Change In Payable	-45,946	-19,851
Change In Account Payable	-45,946	-19,851
Change In Receivables	5,646	-16,323
Other Non Cash Items	3,979	4,049
Stock Based Compensation	5,279	4,642
Asset Impairment Charge		-30
Depreciation Amortization Depletion	101,371	100,308
Depreciation And Amortization	101,371	100,308
Amortization Cash Flow	-5,051	-5,628
Amortization Of Intangibles	-5,051	-5,628
Depreciation	106,422	105,936
Operating Gains Losses	-29,490	-108,706
Pension And Employee Benefit Expense	766	1,312
Earnings Losses From Equity Investments	-22,380	-90,121
Gain Loss On Investment Securities	-7,876	-19,897
Net Income From Continuing Operations	132,798	208,132

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

❌ Financial Condition

Current assets vs current liabilities — a real-time liquidity snapshot. Valid and reliable on quarterly data.

1.86x current ratio

vs ≥ 2.0x

Operating Cash Flow

$153M

Latest quarter · Buffett's cash reality check

ROIC

nan%

Based on latest annual operating income

Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.

Market Cap / Net Assets

1.8x

Net Assets: $7.2B

Peers & Industry

No auto-detected peers for REIT - Retail. You can manually compare REG against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.64%

Low — management has little skin in the game

Share Buybacks (Latest Year)

$9M

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+4.9% YoY

Debt is roughly stable

Leadership Team

Martin Stein Jr.

Non Independent Executive Chairman of the Board

Age 72

Pay: $540,828

Lisa Palmer

President, CEO & Director

Pay: $3,993,334

Michael Mas CPA

Executive VP & CFO

Age 49

Pay: $2,193,074

Alan Todd Roth

President of East Region & COO

Age 50

Pay: $1,583,938

Nicholas Andrew Wibbenmeyer

President of West Region & Chief Investment Officer

Age 44

Pay: $1,576,970

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	12.37%	20,715,473
Vanguard Portfolio Management LLC	8.95%	14,988,914
State Street Corporation	7.32%	12,264,280
Vanguard Capital Management LLC	6.74%	11,290,729
JPMORGAN CHASE & CO	6.14%	10,283,412
Principal Financial Group, Inc.	5.97%	10,004,796
Price (T.Rowe) Associates Inc	5.30%	8,869,767
Geode Capital Management, LLC	3.01%	5,033,620

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.82

Low volatility — more stable than the market

Short Interest

4.5% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.72x

Conservative balance sheet — low financial risk

Current Ratio

0.88x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $66.86 Current: $80.30 High: $83.66

Currently at 80% of 52-week range