JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — Regency Centers Corp. (REG) on Thursday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.
The Jacksonville, Florida-based real estate investment trust said it had funds from operations of $200 million, or $1.08 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.04 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $106.4 million, or 58 cents per share.
The shopping center real estate investment trust, based in Jacksonville, Florida, posted revenue of $363.9 million in the period.
Regency Centers expects full-year funds from operations in the range of $4.15 to $4.21 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on REG at https://www.zacks.com/ap/REG
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