At a glance
Regency Centers Corporation is worth $13.84B. Revenue grew 6.9% to $1.55B in fiscal 2025, with 34.0% kept as profit; over 5 years it has grown 8.9% a year. It pays a 4.02% dividend yield, raised every year for at least 9 years, and returned $2.58B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +14.1% over the past year with dividends reinvested and +5.1% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 45.2% in the 2020 crash (S&P 500: 33.7%) and 30.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 13 months and 22 months after the lows.
The business in plain English
Regency Centers is a real estate investment trust (REIT): a company that owns income-producing property and must pay out most of its taxable income as dividends. Based in Jacksonville, Florida, it has been a public REIT since 1993 and a member of the S&P 500 Index since 2017. It acquires, develops, owns and operates neighborhood and community shopping centers, mostly in suburban areas of the United States.
As of December 31, 2025, Regency had full or partial ownership of 481 properties with about 58.4 million square feet of gross leasable area, the floor space available to rent. Its own share of that space, counting centers held with partners, was about 50.5 million square feet. Most centers are anchored by a leading grocery store, meaning the grocer is the main tenant drawing regular shoppers. Other tenants include restaurants, service providers and retailers focused on everyday needs, convenience and value.
Regency makes money mainly by collecting rent from these tenants. Revenue was about $1.55 billion in fiscal 2025, up 6.9% from the year before, and has grown about 8.9% a year since fiscal 2020. Its filings do not offer a clean split of revenue by segment or region. It competes with other shopping center owners, grocery chains that own centers, and online shopping and delivery.
Price history
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REG +14.1% over the year to Nov 2, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $413.5M, up 8.6% from a year earlier, and net income was $115.8M (+9.2%).
- For fiscal 2025, revenue was $1.55B (+6.9% year over year; +8.9% a year from FY2020 to FY2025) with a 34% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +8.9% good |
|---|---|
| Operating margin | 72.3% good |
| Return on equity (FY2025) | 7.6% weak |
| Return on assets (FY2025) | 4.1% watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.02B | $44.9M | — |
| FY2021 | $1.17B | $361.4M | — |
| FY2022 | $1.22B | $482.9M | — |
| FY2023 | $1.32B | $364.6M | — |
| FY2024 | $1.45B | $400.4M | — |
| FY2025 | $1.55B | $527.5M | — |
Valuation snapshot
| Market value | $13.84B |
|---|---|
| P/E ratio | — |
| Dividend yield | 4.02% |
Rank among 1514 US companies
Market value at each year end
Regency Centers’s market value went from $7.20B at the end of 2016 to $13.84B on Nov 2, 2026, up 92%; since the end of 2025 it is up 10%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $13.84B | +9.6% |
| 2025 | $12.63B | -5.9% |
| 2024 | $13.42B | +8.5% |
| 2023 | $12.37B | +15.6% |
| 2022 | $10.70B | -17.1% |
| 2021 | $12.90B | +66.8% |
| 2020 | $7.74B | -26.8% |
| 2019 | $10.57B | +6.3% |
| 2018 | $9.94B | -15.5% |
| 2017 | $11.77B | +63.3% |
| 2016 | $7.20B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| REG price data to Nov 2, 2026 | +12.7% | +14.1% | +11.1% | +5.1% | +5.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +12.7% |
| 2025 | -2.8% |
| 2024 | +14.9% |
| 2023 | +11.8% |
| 2022 | -13.5% |
| 2021 | +71.4% |
| 2020 | -23.9% |
| 2019 | +11.5% |
| 2018 | -12.0% |
| 2017 | +3.6% |
| 2016 | +4.0% |
| 2015 | +10.1% |
| 2014 | +42.5% |
| 2013 | +1.8% |
| 2012 | +30.3% |
| 2011 | -6.9% |
| 2010 | +26.6% |
| 2009 | -19.8% |
| 2008 | -23.2% |
| 2007 | -14.6% |
| 2006 | +37.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 69.1% over that stretch · deepest drop along the way 69.8%, back to its old high 65.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 44.4% over that stretch · deepest drop along the way 45.2%, back to its old high 12.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 25.8% over that stretch · deepest drop along the way 30.1%, back to its old high 22.2 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 2 sales ($726K).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 5, 2026 | Nicholas Andrew Wibbenmeyer W. Regional Pres. & CIO | sell | $627K |
| Jun 12, 2026 | Terah L Devereaux Principal Accounting Officer | sell | $99K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 10.1% | Mar 31, 2025 |
| Vanguard Portfolio Management | 8.19% | Mar 31, 2026 |
| Vanguard Capital Management | 7.01% | Mar 31, 2026 |
| T. Rowe Price Associates, Inc. | 4.9% | Dec 31, 2025 |
| JPMORGAN CHASE & CO | 3.7% | Apr 30, 2026 |
| PRINCIPAL GLOBAL INVESTORS | 3.6% | Jun 30, 2026 |
ETFs with the most weight in REG
| DDIV First Trust Dorsey Wright Momentum & Dividend ETF | 3.9% |
| RSPR Invesco S&P 500 Equal Weight Real Estate ETF | 3.29% |
| DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF | 2.78% |
| RITA ETFB Green SRI REITs ETF | 2.5% |
| JPEF JPMorgan Equity Focus ETF | 1.97% |
| GQRE FlexShares Global Quality Real Estate Index Fund | 1.79% |
| REIX NYLIM CBRE Real Estate & Infrastructure ETF | 1.79% |
| DESK VanEck Office and Commercial REIT ETF | 1.41% |
What could go wrong
- Relies on grocery store anchor tenants. Most centers are anchored by a leading grocery store that draws shoppers. If a grocer closes, leaves or weakens, the smaller shops around it can suffer, and refilling the space may be hard.
- Online shopping and new delivery methods. Spending could shift toward e-commerce, home delivery, curbside pickup or autonomous delivery, reducing demand for store space. Regency also competes for tenants with grocery chains that own shopping centers, including some of its anchors.
- Local tenants and tenant bankruptcies. Part of Regency's rent comes from local businesses rather than national chains. If they struggle or any tenant files for bankruptcy, Regency may lose rent it cannot collect, while many costs stay fixed or rise.
- Partners share control of some properties. Regency owns some centers through partnerships and joint ventures it does not fully control, so partners may not pursue its goals. Ending a partnership could reduce cash flow and money available for dividends.
- Refinancing debt at higher interest rates. As of December 31, 2025, Regency had $348.3 million of fixed-rate debt due in 2026 and $752.1 million in 2027. Refinancing at higher rates would raise interest costs; higher rates can also lower property values.
- Dividends and REIT status are not guaranteed. Regency warns there is no assurance it will keep paying dividends at historical rates. It must also meet strict REIT tax rules; failing them would mean paying federal income tax at regular corporate rates.
Recent events
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- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
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- Shareholder vote results; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
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For income and retirement investors
Regency has raised its regular dividend per share for at least nine fiscal years in a row through fiscal 2025. The dividend grew from $2.38 in fiscal 2020 to $2.87 in fiscal 2025, about 3.8% a year, and the yield was 4.15% as of October 28, 2026. Dividends equaled about 97% of fiscal 2025 net income, which is typical for REITs because depreciation, a non-cash expense, reduces their earnings. REIT dividends generally don't qualify for lower tax rates. Share repurchases were small: $295 million over fiscal 2021–2025, versus $2.29 billion in dividends, and the share count rose 7.8% between August 2021 and July 2026.
The shares fell sharply in past downturns: about 70% in the 2008 financial crisis, taking about 65 months to recover; 45% in the 2020 COVID crash, recovering in about 13 months; and 30% in the 2022 bear market, recovering in about 22 months. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Regency Centers make money?
Mainly by renting space in grocery-anchored shopping centers. As of December 31, 2025, Regency had full or partial ownership of 481 properties, mostly in US suburbs, with about 58.4 million square feet of rentable space. Tenants include grocers, restaurants, service providers and everyday retailers. Revenue was about $1.55 billion in fiscal 2025, up 6.9%, and revenue for the quarter ended June 30, 2026, was up 8.6% from a year earlier.
Does Regency Centers raise its dividend every year?
Yes, at least through fiscal 2025. Regency raised its regular dividend per share in each of at least nine straight fiscal years, and the true streak may be longer. The dividend rose from $2.38 in fiscal 2020 to $2.87 in fiscal 2025, about 3.8% a year. Regency's annual report warns there is no assurance it will keep paying dividends at historical rates, so past increases are not a promise.
What is Regency Centers' dividend yield?
The dividend yield was 4.15% as of October 28, 2026. The yield compares a year's dividends with the share price. Regency paid regular dividends of $2.87 per share in fiscal 2025, about $512 million in total. As a REIT, it must pay out most of its taxable income. Its dividends generally don't qualify for the lower tax rates that many other stock dividends get, which can matter in a taxable account.
How much debt does Regency Centers have?
Regency had about $4.93 billion of total debt as of June 30, 2026, compared with about $6.87 billion of equity and $13.1 billion of total assets. Most of its debt was fixed rate: as of December 31, 2025, less than 2.0% was variable-rate debt not hedged, or locked, to a fixed rate. It had $348.3 million of fixed-rate debt due in 2026 and $752.1 million in 2027, which could cost more to refinance if rates are elevated.
How has Regency Centers stock performed over the long term?
Modestly, with deep drops along the way. On a price basis, the stock returned about 6.5% over one year, 4.8% a year over five years and 4.3% a year over ten years, all to October 28, 2026. It fell about 70% in the 2008 financial crisis and took about 65 months to recover. It also dropped about 45% in the 2020 COVID crash and 30% in the 2022 bear market.