Ladenburg Thalmann on Monday raised its 12-month price target for Regency Centers (NASDAQ: REG) to $80.00 from $76.00 and left its rating on the shares at Neutral. The new target equates to roughly 6.4% upside from the then-current share price of $75.22, with the stock trading close to its 52-week high of $78.18. According to InvestingPro data, the stock appears fairly valued under the model's proprietary Fair Value assessment.
Regency Centers reported fourth-quarter NAREIT funds from operations (FFO) of $1.17 per share, matching consensus expectations. The company also posted Core FFO of $1.12 per share, which was one cent below Ladenburg Thalmann's internal estimate. Regency has maintained profitability over the trailing twelve months, recording diluted earnings per share of $2.82.
On a year-over-year basis, Core operating results for the quarter rose 6.7% compared with the same period last year. For the full year, Regency reported Core FFO of $4.41, a 6.8% increase relative to the prior year. Same-store net operating income (SS NOI) expanded by 4.7% in the quarter, and the company's underlying growth for the full year measured 5.3%.
Looking ahead, Regency Centers provided 2026 Core FFO guidance in a range of $4.59 to $4.63 per share, which the company said represents expected growth of about 4.5% for 2026. Ladenburg Thalmann left its 2026 estimate unchanged at the midpoint of that guidance range.
In other company disclosures tied to the quarter, Regency announced an earnings-per-share figure that outpaced the forecast on an alternative measure: the company recorded EPS of $1.12 versus a projected $0.57, a 96.49% surprise. Revenue for the quarter, however, fell short of expectations at $395.41 million against a consensus projection of $404.31 million, constituting a 2.2% miss.
Regency also revealed a forthcoming board change. Director C. Ronald Blankenship has informed the company he will retire from the board following the 2026 annual meeting of shareholders. The company clarified that Mr. Blankenship's retirement is not the result of any disagreement with Regency's operations, policies, or practices.
From an investor standpoint, the combination of modest upward revision to the analyst target with an unchanged Neutral rating highlights a view that shares are trading near fair value, particularly given the stock's proximity to its 52-week high. The quarter delivered steady core growth and a strong EPS outcome on one measure, but the revenue shortfall and limited upside implied by the new target are notable factors for market participants to weigh.
Below is a summary of the key financials and company commentary provided in the releases and analyst update. All figures reflect the company's reported metrics and the analyst firm's published estimate adjustments.
- NAREIT FFO (Q4): $1.17 per share - in line with consensus.
- Core FFO (Q4): $1.12 per share - one cent below Ladenburg Thalmann's estimate.
- Trailing twelve-month diluted EPS: $2.82.
- Full-year 2025 Core FFO: $4.41 - up 6.8% year-over-year.
- Same-store NOI (Q4): +4.7%; full-year underlying growth: +5.3%.
- 2026 Core FFO guidance: $4.59 to $4.63 per share - implying ~4.5% growth.
- Q4 EPS (alternate metric): $1.12 vs. expected $0.57 - a 96.49% surprise; revenue: $395.41M vs. expected $404.31M - a 2.2% miss.