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Regency Centers reports YOY FFO gain in Q2, adjusts guidance

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Regency Centers reports YOY FFO gain in Q2, adjusts guidance

Regency Centers Corp. reported core funds from operations for the second quarter of $158.2 million, or 93 cents per share, an increase of 95.3% in the aggregate from $81.0 million, or 82 cents per share, in the comparable 2016 period.

National Association of Real Estate Investment Trusts-defined FFO for the second quarter gained 80.1% on an annual basis to $143.6 million, or 84 cents per share, from $79.7 million, or 81 cents per share.

The S&P Capital IQ consensus FFO-per-share estimate for the quarter was 90 cents.

In reporting results, Regency Centers said it expects NAREIT FFO per share in the range of $2.97 to $3.03 for the full year, compared to previous guidance in the range of $3.00 to $3.10. The company also forecasts core FFO per share for the full year between $3.62 and $3.68. The company previously offered guidance in the range of $3.60 to $3.68.

The S&P Capital IQ consensus FFO-per-share estimate for the full year is $3.64.

Same-property net operating income as adjusted, which reflects adjustments for the company's merger with Equity One, excluding termination fees, increased 3.2% year over year in the quarter.