Regency Centers Reports First Quarter Results

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG)has announced financial and operating results for the quarter ended March 31, 2009.

Funds From Operations (FFO) for the first quarter was $55.0 million, or $0.78 per diluted share, compared to $61.2 million and $0.87 per diluted share for the same period in 2008.

(Top left photo, Downtown Jacksonville at night, highlighting 30-story Independent Life and Accident Insurance Co. Building)

Excluding a one-time severance charge of $2.24 million in March in connection with the Company's ongoing cost savings initiatives originally planned to occur later in the year, first quarter FFO per share would have been $0.82.

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 attributable to common stockholders for the quarter was $19.6 million, or $0.28 per diluted share, compared to $26.7 million and $0.38 per diluted share for the same period in 2008.

For a complete copy of the company's news release and its financials, please contact Lisa Palmer, 904-598-7636. http://www.regencycenters.com/