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Regency Centers: Q1 Earnings Snapshot

May 3, 2022 GMT

JACKSONVILLE, Fla. (AP) _ Regency Centers Corp. (REG) on Tuesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in Jacksonville, Florida, said it had funds from operations of $178.2 million, or $1.03 per share, in the period.

The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 93 cents 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 $195.2 million, or $1.14 per share.

The shopping center real estate investment trust, based in Jacksonville, Florida, posted revenue of $303.4 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $297.4 million.

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Regency Centers expects full-year funds from operations in the range of $3.84 to $3.90 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