Regency Centers: 4Q Earnings Snapshot

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

The Jacksonville, Florida-based real estate investment trust said it had funds from operations of $129.5 million, or 76 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 72 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 $38.5 million, or 23 cents per share.

The shopping center real estate investment trust posted revenue of $258.5 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $261.3 million.

For the year, the company reported funds from operations of $502 million, or $2.95 per share. Revenue was reported as $1.02 billion.

Regency Centers expects full-year funds from operations in the range of $2.96 to $3.14 per share.

The company's shares have climbed 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $51.25, a decrease of 18% in the last 12 months.

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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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