Regency Centers: Q4 Earnings Snapshot
JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — Regency Centers Corp. (REG) on Thursday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Jacksonville, Florida, said it had funds from operations of $219.3 million, or $1.17 per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.17 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 $199.1 million, or $1.09 per share.
The shopping center real estate investment trust, based in Jacksonville, Florida, posted revenue of $404.2 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $395 million.
For the year, the company reported funds from operations of $855.7 million. Revenue was reported as $1.55 billion.
Regency Centers expects full-year funds from operations in the range of $4.83 to $4.87 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