Regency Centers Q3 Profit Rises

(RTTNews) - Regency Centers Corporation (REG) Monday reported third-quarter net income of $98.1 million, or $0.54 per share, compared to $89.1 million, or $0.50 per share, for the same period in 2023.

Third-quarter Nareit FFO was $195.1 million, or $1.07 per share, compared to $182.8 million, or $1.02 per diluted share last year.

Third-quarter core operating earnings was $187.8 million or $1.03 per share, compared to $174.0 million, or $0.97 per share last year.

Analysts polled by Thomson Reuters expected earnings of $0.45 per share for the quarter.

Looking forward to the full year 2024, the company now expects earnings of $2.13 to $2.15 per share, $4.27 - $4.29 per share and core operating earnings of $4.12 - $4.14 per share.

Previously, the company expected earnings of $2.02 - $2.06 per share, Nareit FFO of $4.21 - $4.25 per share and core operating earnings of $4.06 - $4.10 per share.

Analysts currently estimate earnings of $2.02 per share.