JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — Regency Centers Corp. (REG) on Monday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Jacksonville, Florida, said it had funds from operations of $195.1 million, or $1.07 per share, in the period.
The average estimate of seven 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 $98.1 million, or 54 cents per share.
The shopping center real estate investment trust, based in Jacksonville, Florida, posted revenue of $360.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $355.2 million.
Regency Centers expects full-year funds from operations to be $4.27 to $4.29 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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