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Regency (REG) Acquires Klahanie Shopping Center for $36M
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Regency Centers Corporation (REG - Free Report) , the Jacksonville, FL-based retail real estate investment trust (“REIT”) acquired Seattle, WA-based Klahanie Shopping Center for $36 million. This acquisition has bolstered Regency’s footprint in the Puget Sound area. Other important centers in the area include Sammamish Highlands, Grand Ridge Plaza in Issaquah, Broadway Market and Pine Lake Village.
Klahanie Shopping Center is a nice addition to Regency’s portfolio. The center’s proximity to a prosperous community along with a diversified tenant mix will well complement its portfolio expansion in the Seattle region. The center is anchored by 40,000 square foot retailer-owned Quality Food Centers. Also, it comprises an additional 67,000 square feet of space which is leased to a variety of national and local players.
Regency’s portfolio mainly includes grocery-anchored community and neighborhood centers. The company leases space in its shopping centers to grocery stores, major retail anchors, restaurants, side-shop retailers and service providers.
Currently, Regency has a Zacks Rank #2 (Buy). Over the past 30 days, the company’s second-quarter funds from operations (“FFO”) per share remained stable.
Investors interested in the REIT sector can consider other favorably ranked stocks like Urstadt Biddle Properties Inc. , Acadia Realty Trust (AKR - Free Report) and The Macerich Company (MAC - Free Report) . While Urstadt Biddle Properties sports a Zacks Rank #1 (Strong Buy), both Acadia Realty Trust and Macerich carry the same Zacks Rank as Regency.
Note: All EPS numbers presented in this write up represent funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Regency (REG) Acquires Klahanie Shopping Center for $36M
Regency Centers Corporation (REG - Free Report) , the Jacksonville, FL-based retail real estate investment trust (“REIT”) acquired Seattle, WA-based Klahanie Shopping Center for $36 million. This acquisition has bolstered Regency’s footprint in the Puget Sound area. Other important centers in the area include Sammamish Highlands, Grand Ridge Plaza in Issaquah, Broadway Market and Pine Lake Village.
Klahanie Shopping Center is a nice addition to Regency’s portfolio. The center’s proximity to a prosperous community along with a diversified tenant mix will well complement its portfolio expansion in the Seattle region. The center is anchored by 40,000 square foot retailer-owned Quality Food Centers. Also, it comprises an additional 67,000 square feet of space which is leased to a variety of national and local players.
Regency’s portfolio mainly includes grocery-anchored community and neighborhood centers. The company leases space in its shopping centers to grocery stores, major retail anchors, restaurants, side-shop retailers and service providers.
REGENCY CTRS CP Price
REGENCY CTRS CP Price | REGENCY CTRS CP Quote
Currently, Regency has a Zacks Rank #2 (Buy). Over the past 30 days, the company’s second-quarter funds from operations (“FFO”) per share remained stable.
Investors interested in the REIT sector can consider other favorably ranked stocks like Urstadt Biddle Properties Inc. , Acadia Realty Trust (AKR - Free Report) and The Macerich Company (MAC - Free Report) . While Urstadt Biddle Properties sports a Zacks Rank #1 (Strong Buy), both Acadia Realty Trust and Macerich carry the same Zacks Rank as Regency.
Note: All EPS numbers presented in this write up represent funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>