{
  "run": {
    "id": "cmnr14y7t05y4p658pxh0veog",
    "region": "US",
    "assetId": "cmnr14y7a05y0p658cvnlhx2y",
    "ticker": "REG",
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    "createdAt": "2026-04-09T05:21:41.175Z",
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      "assetId": "cmnr14y7a05y0p658cvnlhx2y",
      "asOf": "2026-04-08T20:00:00.000Z",
      "snapshot": {
        "asOf": "2026-04-08T20:00:00.000Z",
        "quote": {
          "asOf": "2026-04-08T20:00:00.000Z",
          "open": 77.85,
          "price": 77.86,
          "dayLow": 77.17,
          "volume": 1945038,
          "dayHigh": 78.12,
          "currency": "USD",
          "prevClose": 77.33,
          "week52Low": 63.44,
          "week52High": 79.895
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          "fcfTTM": 417874000,
          "growth": {
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            "revenueYoy": 0.0685189668643872
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          "sector": "Real Estate Investment Trusts",
          "margins": {
            "net": 0.3395248480229465,
            "gross": null,
            "operating": 0.7231565138356407
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          "website": "https://regencycenters.com/",
          "industry": "Real estate investment trust",
          "pegRatio": 0.73421903836814,
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          "marketCap": 12800000000,
          "totalCash": 113776000,
          "totalDebt": 2453840000,
          "debtEquity": 0.738390940061301,
          "quickRatio": null,
          "revenueTTM": 1553524000,
          "companyName": "REGENCY CENTERS CORP",
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          "analystOpinions": null,
          "businessSummary": "Regency Centers Corporation is a real estate investment trust based in Jacksonville, Florida, and is one of the largest operators of shopping centers with grocery stores as anchor tenants. As of October 21, 2020, the company owned 415 properties comprising 56-million-square feet of space. Notable properties owned by the company include Serramonte Center and a 30% interest in Village District.",
          "enterpriseValue": 17536019060,
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          "analystTargetHigh": null,
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          "fullTimeEmployees": 450,
          "sharesOutstanding": 182906561,
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          "enterpriseToRevenue": 11.28789710361732,
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        "rawOutput": "{\"model\":\"ai-equity-research-v1\",\"as_of\":\"2026-04-08T20:00:00.000Z\",\"ticker\":\"REG\",\"currency\":\"USD\",\"current_price\":77.86,\"target_price_6m\":80.0,\"target_price_12m\":82.5,\"recommendation\":\"HOLD\",\"confidence\":0.62,\"thesis_bullets\":[\"Grocery-anchored portfolio provides defensive cash flows and high occupancy\",\"Dividend yield of ~4.2% supports total return in a moderate growth environment\",\"Forward PE of ~14.3x implies modest undervaluation versus quality REIT peers\",\"Stock trading near 52-week high limits near-term price upside potential\",\"Interest rate trajectory remains key swing factor for REIT sector multiples\"],\"key_drivers\":[{\"driver\":\"Same-store NOI growth driven by embedded lease escalators\",\"impact\":\"HIGH\",\"direction\":\"POS\"},{\"driver\":\"Grocery-anchored tenant base provides recession resilience\",\"impact\":\"HIGH\",\"direction\":\"POS\"},{\"driver\":\"Strong EPS YoY growth of 32% reflects acquisition accretion\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Revenue growth of ~6.9% YoY above sector average\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Debt/equity of 0.74 manageable but limits acquisition flexibility\",\"impact\":\"MED\",\"direction\":\"NEG\"},{\"driver\":\"Interest rate environment pressuring cap rates and REIT multiples\",\"impact\":\"HIGH\",\"direction\":\"NEG\"},{\"driver\":\"PEG ratio of 0.73 suggests attractive growth-adjusted valuation\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Limited near-term catalyst with price near 52-week high\",\"impact\":\"LOW\",\"direction\":\"NEG\"}],\"risks\":[\"Sustained higher interest rates compress REIT multiples and raise refinancing costs\",\"Retail tenant bankruptcies or store closures reduce occupancy and rental income\",\"Grocery sector disruption from e-commerce or competition erodes anchor value\",\"Acquisition-driven growth dilutes returns if cap rate spreads narrow\",\"Regional economic weakness in key markets impacts small-shop tenant demand\"],\"assumptions\":{\"revenue_cagr_3y\":0.05,\"ebit_margin_target\":0.72,\"wacc\":0.075,\"terminal_multiple\":16.0},\"scenarios\":{\"bear\":{\"target_price\":68.0,\"prob\":0.2,\"notes\":\"Rate hikes or recession drive multiple compression to ~13x forward FFO.\"},\"base\":{\"target_price\":82.5,\"prob\":0.55,\"notes\":\"Steady NOI growth and stable rates support modest re-rating to ~15x FFO.\"},\"bull\":{\"target_price\":93.0,\"prob\":0.25,\"notes\":\"Rate cuts and accelerating leasing drive multiple expansion to ~17x FFO.\"}},\"method_notes\":\"Valued REG using forward FFO multiple approach. Implied forward FFO ~$5.46 (from forward PE 14.26). Base case applies 15x FFO multiple = ~$82. Price return of ~6% is near HOLD/BUY boundary; given proximity to 52-week high and rate uncertainty, HOLD is appropriate. Dividend yield (~4.2%) enhances total return. EV/EBITDA of 17.7x is fair for premium grocery-anchored REIT. Not investment advice.\"}",
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          "model": "ai-equity-research-v1",
          "risks": [
            "Sustained higher interest rates compress REIT multiples and raise refinancing costs",
            "Retail tenant bankruptcies or store closures reduce occupancy and rental income",
            "Grocery sector disruption from e-commerce or competition erodes anchor value",
            "Acquisition-driven growth dilutes returns if cap rate spreads narrow",
            "Regional economic weakness in key markets impacts small-shop tenant demand"
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          "ticker": "REG",
          "currency": "USD",
          "scenarios": {
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              "prob": 0.55,
              "notes": "Steady NOI growth and stable rates support modest re-rating to ~15x FFO.",
              "target_price": 82.5
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            "bear": {
              "prob": 0.2,
              "notes": "Rate hikes or recession drive multiple compression to ~13x forward FFO.",
              "target_price": 68
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            "bull": {
              "prob": 0.25,
              "notes": "Rate cuts and accelerating leasing drive multiple expansion to ~17x FFO.",
              "target_price": 93
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          "confidence": 0.62,
          "assumptions": {
            "wacc": 0.075,
            "revenue_cagr_3y": 0.05,
            "terminal_multiple": 16,
            "ebit_margin_target": 0.72
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          "key_drivers": [
            {
              "driver": "Same-store NOI growth driven by embedded lease escalators",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Grocery-anchored tenant base provides recession resilience",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Strong EPS YoY growth of 32% reflects acquisition accretion",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Revenue growth of ~6.9% YoY above sector average",
              "impact": "MED",
              "direction": "POS"
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            {
              "driver": "Debt/equity of 0.74 manageable but limits acquisition flexibility",
              "impact": "MED",
              "direction": "NEG"
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            {
              "driver": "Interest rate environment pressuring cap rates and REIT multiples",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "PEG ratio of 0.73 suggests attractive growth-adjusted valuation",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Limited near-term catalyst with price near 52-week high",
              "impact": "LOW",
              "direction": "NEG"
            }
          ],
          "method_notes": "Valued REG using forward FFO multiple approach. Implied forward FFO ~$5.46 (from forward PE 14.26). Base case applies 15x FFO multiple = ~$82. Price return of ~6% is near HOLD/BUY boundary; given proximity to 52-week high and rate uncertainty, HOLD is appropriate. Dividend yield (~4.2%) enhances total return. EV/EBITDA of 17.7x is fair for premium grocery-anchored REIT. Not investment advice.",
          "current_price": 77.86,
          "recommendation": "HOLD",
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            "Dividend yield of ~4.2% supports total return in a moderate growth environment",
            "Forward PE of ~14.3x implies modest undervaluation versus quality REIT peers",
            "Stock trading near 52-week high limits near-term price upside potential",
            "Interest rate trajectory remains key swing factor for REIT sector multiples"
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          "target_price_12m": 82.5
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        "rawOutput": "{\n  \"model\": \"AI Equity Research Model\",\n  \"as_of\": \"2026-04-08T20:00:00.000Z\",\n  \"ticker\": \"REG\",\n  \"currency\": \"USD\",\n  \"current_price\": 77.86,\n  \"target_price_6m\": 80.0,\n  \"target_price_12m\": 84.0,\n  \"recommendation\": \"BUY\",\n  \"confidence\": 0.65,\n  \"thesis_bullets\": [\n    \"Stable revenue growth from grocery-anchored properties.\",\n    \"High operating margins support strong cash flow.\",\n    \"Attractive dividend yield provides income component.\",\n    \"Reasonable valuation with low PEG ratio.\",\n    \"Resilient business model in economic cycles.\"\n  ],\n  \"key_drivers\": [\n    {\"driver\": \"Economic growth\", \"impact\": \"MED\", \"direction\": \"POS\"},\n    {\"driver\": \"Interest rates\", \"impact\": \"HIGH\", \"direction\": \"NEG\"},\n    {\"driver\": \"Tenant health and retention\", \"impact\": \"MED\", \"direction\": \"POS\"},\n    {\"driver\": \"Property acquisition pipeline\", \"impact\": \"LOW\", \"direction\": \"POS\"},\n    {\"driver\": \"E-commerce competition\", \"impact\": \"MED\", \"direction\": \"NEG\"},\n    {\"driver\": \"Inflation and cost pressures\", \"impact\": \"MED\", \"direction\": \"NEG\"},\n    {\"driver\": \"Demographic trends favoring suburbs\", \"impact\": \"LOW\", \"direction\": \"POS\"}\n  ],\n  \"risks\": [\n    \"Economic downturn reducing retail traffic.\",\n    \"Rising interest rates increasing financing costs.\",\n    \"Tenant defaults impacting rental income.\"\n  ],\n  \"assumptions\": {\n    \"revenue_cagr_3y\": 0.065,\n    \"ebit_margin_target\": 0.72,\n    \"wacc\": 0.07,\n    \"terminal_multiple\": 15.0\n  },\n  \"scenarios\": {\n    \"bear\": {\"target_price\": 70.0, \"prob\": 0.2, \"notes\": \"Recession sharply reduces retail demand.\"},\n    \"base\": {\"target_price\": 84.0, \"prob\": 0.6, \"notes\": \"Moderate growth with stable multiples.\"},\n    \"bull\": {\"target_price\": 95.0, \"prob\": 0.2, \"notes\": \"Strong recovery drives multiple expansion.\"}\n  },\n  \"method_notes\": \"Used DCF with 6.5% revenue growth, 7% WACC; BUY due to 8% 12M upside. Not investment advice.\"\n}",
        "parsedJson": {
          "as_of": "2026-04-08T20:00:00.000Z",
          "model": "AI Equity Research Model",
          "risks": [
            "Economic downturn reducing retail traffic.",
            "Rising interest rates increasing financing costs.",
            "Tenant defaults impacting rental income."
          ],
          "ticker": "REG",
          "currency": "USD",
          "scenarios": {
            "base": {
              "prob": 0.6,
              "notes": "Moderate growth with stable multiples.",
              "target_price": 84
            },
            "bear": {
              "prob": 0.2,
              "notes": "Recession sharply reduces retail demand.",
              "target_price": 70
            },
            "bull": {
              "prob": 0.2,
              "notes": "Strong recovery drives multiple expansion.",
              "target_price": 95
            }
          },
          "confidence": 0.65,
          "assumptions": {
            "wacc": 0.07,
            "revenue_cagr_3y": 0.065,
            "terminal_multiple": 15,
            "ebit_margin_target": 0.72
          },
          "key_drivers": [
            {
              "driver": "Economic growth",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Interest rates",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Tenant health and retention",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Property acquisition pipeline",
              "impact": "LOW",
              "direction": "POS"
            },
            {
              "driver": "E-commerce competition",
              "impact": "MED",
              "direction": "NEG"
            },
            {
              "driver": "Inflation and cost pressures",
              "impact": "MED",
              "direction": "NEG"
            },
            {
              "driver": "Demographic trends favoring suburbs",
              "impact": "LOW",
              "direction": "POS"
            }
          ],
          "method_notes": "Used DCF with 6.5% revenue growth, 7% WACC; BUY due to 8% 12M upside. Not investment advice.",
          "current_price": 77.86,
          "recommendation": "BUY",
          "thesis_bullets": [
            "Stable revenue growth from grocery-anchored properties.",
            "High operating margins support strong cash flow.",
            "Attractive dividend yield provides income component.",
            "Reasonable valuation with low PEG ratio.",
            "Resilient business model in economic cycles."
          ],
          "target_price_6m": 80,
          "target_price_12m": 84
        },
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        "id": "cmnr14y7v05y7p658mkg1shjw",
        "runId": "cmnr14y7t05y4p658pxh0veog",
        "modelId": "gemini.3-pro",
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        "rawOutput": "{\n  \"model\": \"Equity-Research-Alpha-v1\",\n  \"as_of\": \"2026-04-08T20:00:00.000Z\",\n  \"ticker\": \"REG\",\n  \"currency\": \"USD\",\n  \"current_price\": 77.86,\n  \"target_price_6m\": 81.00,\n  \"target_price_12m\": 85.00,\n  \"recommendation\": \"BUY\",\n  \"confidence\": 0.75,\n  \"thesis_bullets\": [\n    \"Grocery-anchored portfolio provides highly defensive, cycle-tested cash flows.\",\n    \"Forward valuation of 14.2x is attractive relative to historical REIT averages.\",\n    \"Solid 4.2% dividend yield offers a strong floor for total return.\",\n    \"Healthy balance sheet with manageable debt-to-equity ratio of 0.74x.\",\n    \"Strong leasing spreads and occupancy rates support steady NOI growth.\"\n  ],\n  \"key_drivers\": [\n    {\n      \"driver\": \"Grocery anchor retention\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Interest rate environment\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"NEG\"\n    },\n    {\n      \"driver\": \"Leasing spreads\",\n      \"impact\": \"MED\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Consumer staple spending\",\n      \"impact\": \"MED\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"E-commerce penetration in grocery\",\n      \"impact\": \"MED\",\n      \"direction\": \"NEG\"\n    },\n    {\n      \"driver\": \"Development pipeline yields\",\n      \"impact\": \"LOW\",\n      \"direction\": \"POS\"\n    }\n  ],\n  \"risks\": [\n    \"Higher-for-longer interest rates expanding capitalization rates.\",\n    \"Tenant bankruptcies in non-anchor inline spaces.\",\n    \"Increased competition from omnichannel grocery delivery models.\",\n    \"Macroeconomic slowdown reducing discretionary retail foot traffic.\"\n  ],\n  \"assumptions\": {\n    \"revenue_cagr_3y\": 0.045,\n    \"ebit_margin_target\": 0.725,\n    \"wacc\": 0.075,\n    \"terminal_multiple\": 15.5\n  },\n  \"scenarios\": {\n    \"bear\": {\n      \"target_price\": 68.00,\n      \"prob\": 0.2,\n      \"notes\": \"Persistent inflation and higher rates pressure cap rates and consumer spending.\"\n    },\n    \"base\": {\n      \"target_price\": 85.00,\n      \"prob\": 0.6,\n      \"notes\": \"Steady NOI growth and stable cap rates lead to moderate multiple expansion.\"\n    },\n    \"bull\": {\n      \"target_price\": 95.00,\n      \"prob\": 0.2,\n      \"notes\": \"Rate cuts and strong leasing demand drive premium valuation and higher occupancy.\"\n    }\n  },\n  \"method_notes\": \"Valuation based on a blend of forward FFO multiples and DCF. Probability-weighted scenario expected return is 7.4%, supporting a BUY rating. Not investment advice.\"\n}",
        "parsedJson": {
          "as_of": "2026-04-08T20:00:00.000Z",
          "model": "Equity-Research-Alpha-v1",
          "risks": [
            "Higher-for-longer interest rates expanding capitalization rates.",
            "Tenant bankruptcies in non-anchor inline spaces.",
            "Increased competition from omnichannel grocery delivery models.",
            "Macroeconomic slowdown reducing discretionary retail foot traffic."
          ],
          "ticker": "REG",
          "currency": "USD",
          "scenarios": {
            "base": {
              "prob": 0.6,
              "notes": "Steady NOI growth and stable cap rates lead to moderate multiple expansion.",
              "target_price": 85
            },
            "bear": {
              "prob": 0.2,
              "notes": "Persistent inflation and higher rates pressure cap rates and consumer spending.",
              "target_price": 68
            },
            "bull": {
              "prob": 0.2,
              "notes": "Rate cuts and strong leasing demand drive premium valuation and higher occupancy.",
              "target_price": 95
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          },
          "confidence": 0.75,
          "assumptions": {
            "wacc": 0.075,
            "revenue_cagr_3y": 0.045,
            "terminal_multiple": 15.5,
            "ebit_margin_target": 0.725
          },
          "key_drivers": [
            {
              "driver": "Grocery anchor retention",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Interest rate environment",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Leasing spreads",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Consumer staple spending",
              "impact": "MED",
              "direction": "POS"
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            {
              "driver": "E-commerce penetration in grocery",
              "impact": "MED",
              "direction": "NEG"
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            {
              "driver": "Development pipeline yields",
              "impact": "LOW",
              "direction": "POS"
            }
          ],
          "method_notes": "Valuation based on a blend of forward FFO multiples and DCF. Probability-weighted scenario expected return is 7.4%, supporting a BUY rating. Not investment advice.",
          "current_price": 77.86,
          "recommendation": "BUY",
          "thesis_bullets": [
            "Grocery-anchored portfolio provides highly defensive, cycle-tested cash flows.",
            "Forward valuation of 14.2x is attractive relative to historical REIT averages.",
            "Solid 4.2% dividend yield offers a strong floor for total return.",
            "Healthy balance sheet with manageable debt-to-equity ratio of 0.74x.",
            "Strong leasing spreads and occupancy rates support steady NOI growth."
          ],
          "target_price_6m": 81,
          "target_price_12m": 85
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