Regency Starts Development Of Pinecrest Place In Florida
Zacks Investment Research | Apr 10, 2017 09:07PM ET
Regency Centers Corporation (NYSE:REG) , the Jacksonville, FL-based retail real estate investment trust (REIT), announced a new ground-up development of Pinecrest Place in Miami, FL. This development will add 70,000 square-feet of high-quality retail space to the existing 173,000 square foot area of Target. The construction works for this development is expected to be completed in second-quarter 2018.
Regency Centers’ portfolio mainly constitutes of grocery-anchored community and neighborhood centers. Importantly, Pinecrest Place is a perfect blend of best-in-quality anchors with a huge parking facility. Strategically located near US-1, Pinecrest Place is likely to benefit due to huge traffic and neighborhood daytime population of more than 120,000 with average household incomes over $130,000 in the trade area.
Backed by better-than-expected growth in revenue, in February, Regency Centers reported fourth-quarter 2016 core funds from operations (FFO) per share of 86 cents, which came ahead of the Zacks Consensus Estimate of 84 cents. Further, the results compared favorably with 79 cents reported in the year-ago quarter. Moreover, the company experienced growth in same property net operating income (SPNOI).
Shares of Regency outperformed the Zacks categorized Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.