JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — Regency Centers Corp. (REG) on Thursday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.
The Jacksonville, Florida-based real estate investment trust said it had funds from operations of $199.5 million, or $1.09 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.07 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 $83.1 million, or 46 cents per share.
The shopping center real estate investment trust, based in Jacksonville, Florida, posted revenue of $372.5 million in the period.
For the year, the company reported funds from operations of $790.9 million. Revenue was reported as $1.45 billion.
Regency Centers expects full-year funds from operations to be $4.52 to $4.58 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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