JACKSONVILLE, Fla. (AP) _ Regency Centers Corp. (REG) on Thursday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Jacksonville, Florida, said it had funds from operations of $157.9 million, or 92 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 92 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 $85.1 million, or 50 cents per share.
The shopping center real estate investment trust posted revenue of $264.8 million in the period. Its adjusted revenue was $257.9 million, which topped Street forecasts. Six analysts surveyed by Zacks expected $257.6 million.
For the year, the company reported funds from operations of $592.1 million, or $3.69 per share. Revenue was reported as $958.2 million.
Regency Centers expects full-year funds from operations in the range of $3.48 to $3.54 per share.
The company's shares have fallen 20 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $55.58, a drop of 21 percent in the last 12 months.
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