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JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — Regency Centers Corp. (REG) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Jacksonville, Florida, said it had funds from operations of $186.5 million, or $1.08 per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.02 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 $97.3 million, or 57 cents per share.
The shopping center real estate investment trust, based in Jacksonville, Florida, posted revenue of $318 million in the period.
Regency Centers expects full-year funds from operations in the range of $3.87 to $3.93 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 REG">Zacks stock report on REG at https://www.zacks.com/ap/REG