JACKSONVILLE, Fla.--(BUSINESS WIRE)--Regency Centers Corporation (NYSE:REG) reports financial and operating results for the quarter ended March 31, 2008.(Martin E. "Hap" Stein Jr., chairman, Regency Centers Corp., is at top right photo. Mary Lou Fiala, president and chief operation officer, is at top left). Hap and Joan Stein founded Regency Centers in 1963)
Funds From Operations (FFO) for the first quarter was $61.2 million, or $0.87 per diluted share, compared to $79.1 million and $1.13 per diluted share for the same period in 2007.
Funds From Operations (FFO) for the first quarter was $61.2 million, or $0.87 per diluted share, compared to $79.1 million and $1.13 per diluted share for the same period in 2007.
The change in FFO per share is primarily related to transaction profits of $2.6 million in the first quarter of 2008 compared
with profits of $22.8 million in the first quarter of 2007.
with profits of $22.8 million in the first quarter of 2007. Regency reports FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (NAREIT) as a supplemental earnings measure. The Company considers this a meaningful performance measurement in the Real Estate Investment Trust industry.
Net income for common stockholders for the quarter was $26.7 million, or $0.38 per diluted share, compared to $52.1 million and $0.75 per diluted share for the same period in 2007.
(For a detailed copy of the company's news release, please contact Lisa Palmer, Regency Centers Corp., 904-598-7636)
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