Regency Centers: Q2 Earnings Snapshot

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

The Jacksonville, Florida-based real estate investment trust said it had funds from operations of $176.8 million, or $1.03 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.01 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 $86.8 million, or 50 cents per share.

The shopping center real estate investment trust, based in Jacksonville, Florida, posted revenue of $314.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $313.3 million.

Regency Centers expects full-year funds from operations in the range of $3.89 to $3.93 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