Regency Centers Q1 FFO Tops Estimate; Boosts Outlook

(RTTNews) - Regency Centers Corp. (REG) reported net income for the first quarter of $19.4 million or $0.21 per share, compared to $15.6 million or $0.17 per share for the year-ago quarter.

Funds From Operations for the first quarter was $65.5 million or $0.71 per share, compared to $57.9 million or $0.64 per share in the prior year quarter.

Core Funds From Operations for the first quarter was $64.1 million or $0.69 per share, compared to $58.3 million or $0.64 per share in the first quarter of last year.

Analysts polled by Thomson Reuters expected the company to report FFO of $0.65 per share for the first quarter.

For the full year 2014, the company now expects FFO per share and core FFO per share of $2.68 - $2.74. Previously, the company expected FFO per share of $2.62 - $2.68 and core FFO per share of $2.66 - $2.72. Analysts currently expect the company to report FFO of $2.68 per share for the full year 2014.