Regency Centers Q4 FFO Rises

February 12, 2020 — 11:06 pm EST

Written by RTTNews.com for RTTNews

(RTTNews) - Regency Centers Corp. (REG) reported that its FFO for the fourth quarter rose to $168.5 million or $1.00 per share, from $167.2 million or $0.98 per share in the previous year.

Core Operating Earnings for the fourth quarter was $152.9 million or $0.91 per share, compared to $149.9 million, or $0.88 per share last year.

Net income for the fourth quarter dropped to $40.3 million, or $0.24 per share, from $78.9 million, or $0.46 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share. Analysts' estimates typically exclude special items.

The latest-quarter results included an impairment charge of $40.3 million, or $0.24 per diluted share, recognized on the 101 7th Avenue asset, which is occupied by a single retail tenant, Barneys New York, that filed bankruptcy and is expected to terminate its lease in February 2020.

For 2020, the company projects earnings per share to be in the range of $1.47 - $1.50, and FFO of $3.90 - $3.93. Analysts expect annual earnings of $1.56 per share.

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Regency Centers Q4 FFO Rises

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