[Regency Centers Q3 2026 Earnings Call] Regency Raises 2026 NOI Growth Outlook to 4.25%, Hits Record 97% Occupancy, but 2027 Guidance Points to Mid-3% Growth

Regency Centers reported strong Q3 2026 results, raising its 2026 same-property NOI growth guidance to 4.25% or higher and increasing its dividend by 6%, driven by record 97% occupancy and robust rent spreads. However, the company's early 2027 outlook projects a deceleration to mid-3% NOI growth, influenced by moderating occupancy gains, normalized bad debt, and high expense recovery rates. Additionally, refinancing maturing debt is expected to reduce long-term earnings growth by 150-200 basis points, leading analysts to press management on future growth drivers and capital allocation.