Regency Centers: Q4 Earnings Snapshot

Posted 2/8/24

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 …

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Regency Centers: Q4 Earnings Snapshot

Posted

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 Jacksonville, Florida-based real estate investment trust said it had funds from operations of $190 million, or $1.02 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 $86.4 million, or 47 cents per share.

The shopping center real estate investment trust, based in Jacksonville, Florida, posted revenue of $359.6 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $350.6 million.

For the year, the company reported funds from operations of $736.1 million. Revenue was reported as $1.32 billion.

Regency Centers expects full-year funds from operations to be $4.14 to $4.20 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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