Regency Centers Corporation executed a $200 million share repurchase during the second quarter of 2024. This action was taken due to a significant disconnect between public and private market valuations.
The company repurchased shares at an implied cap rate of approximately 7%. This compares favorably to private market values for similar quality assets, which were in the 5.5% to 6.5% range.
This share repurchase was viewed as accretive to earnings and a strategic use of capital. It demonstrates management's commitment to enhancing shareholder value by capitalizing on market opportunities.
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