WASHINGTON (dpa-AFX) - Regency Centers Corp. (REG) Wednesday said its first-quarter funds from operations, a performance metric for real estate investment trusts, declined to $49.9 million or $0.55 per share from $52.7 million or $0.61 per share in the same period last year.
Recurring funds from operations, or FFO, was $56.2 million or $0.62 per share, compared to $51.0 million or $0.59 per share last year.
On average, 15 analysts polled by Thomson Reuters expected the company to earn $0.56 per share for the first quarter. Analysts' estimates typically exclude one-time items.
First-quarter profit attributable to common stockholders declined to $13.2 million or $0.14 per share from $2.2 million or $0.02 per share last year.
Looking ahead to the fiscal year 2012, the company updated its FFO guidance to a range of $2.30 to $2.42 per share, up from $2.23 to $2.39 per share announced before.
Recurring FFO for the fiscal year 2012 is currently expected to range between $2.42 and $2.54 per share. The company previously forecast recurring FFO in the range of $2.38 to $2.52 per share.
Analysts currently expect FFO of $2.43 per share for 2012.
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