Regency Centers Corp. (REG) on Tuesday reported a key metric for profitability in the first quarter. The results beat Wall Street’s expectations.
The Jacksonville, Fla.-based real estate investment trust said it had cash from operations of $178.2 million, or $1.03 per share, during the period.
The average estimate by eight analysts polled by Zacks Investment Research was 93 cents a share for Funds from Operations.
Funds from Operations is a closely watched metric in the REIT industry. It takes net income and adds items like depreciation and amortization.
The company said it had net income of $195.2 million, or $1.14 per share.
The shopping center real estate investment trust, based in Jacksonville, Fla., had sales of $303.4 million during the period, beating Street’s forecasts as well. Four analysts polled by Zacks expected $297.4 million.
Regency Centers expects full-year working capital to be in the range of $3.84 to $3.90 per share.
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This story was created 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
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