Regency Centers Q1 FFO Rises

(RTTNews) - Regency Centers Corp. (REG) Wednesday reported first-quarter funds from operations of $69.6 million or $0.74 per share, up from $65.5 million or $0.71 per share last year.

Core funds from operations rose to $69.5 million or $0.74 per share from $64.1 million or $0.69 per share a year ago. Analysts polled by Thomson Reuters estimated funds from operations of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the first quarter rose to $25.2 million or $0.27 per share from $19.4 million or $0.21 per share last year.

Revenues for the quarter rose to $134.2 million from $127.0 million last year. Analysts estimated revenues of $133.2 million for the quarter.

For the full year 2015, the company now expects core FFO of $2.93 to $2.97 per share, up from prior outlook of $2.91 to $2.97 per share. Analysts currently expect FFO of $2.96 per share.