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Regency Centers: 3Q Earnings Snapshot

·1 min read

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

The Jacksonville, Florida-based real estate investment trust said it had funds from operations of $117.4 million, or 69 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 75 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 $12.7 million, or 7 cents per share.

The shopping center real estate investment trust posted revenue of $242.9 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $260.7 million.

The company's shares have decreased 43% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $36.18, a fall of 46% 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