Regency Centers Presents At Citigroup's 2011 Global Property CEO Conference

Citigroup has published a research report on Regency Centers Corporation REG after the company presented at Citi's 2011 Global Property CEO conference.

In the report, Citigroup writes "REG's CEO, Hap Stein, commented the company remains focused on improving their shop space leasing which will help drive occupancy up to the 95% target. REG noted that a wide range of tenants are driving demand on the shop space side. REG expects same store NOI growth getting to the 3% range in '12 and '13 as overall occupancy improves to 95%. The biggest driver would be continued leasing velocity in line with the 1.7bn sf of leases signed last year and reducing move-outs back to historical levels (1.8m sf of move-outs last year vs. the 1.2m-1.4m sf historically). The quality of REG's receivables have improved which the company believes is indicative of overall tenant health."

Citigroup maintains its Buy rating and $50 price target.

Regency Centers Corporation closed yesterday at $43.39.