Regency Centers Corp. (REG) Tuesday reported an increase in its funds from operations for the second quarter.
Funds from operations, or FFO, increased to $61.3 million or $0.68 per share from $55.1 million or $0.61 per share in the same period last year.
Core FFO was $62.5 million or $0.69 per share, compared to $50.5 million or $0.56 per share last year.
On average, 16 analysts polled by Thomson Reuters expected the company to earn $0.63 per share for the quarter. Analysts' estimates typically exclude special items.
Net income attributable to common stockholders declined to $5.7 million or $0.06 per share from $12.9 million or $0.14 per share last year.
Looking ahead to the fiscal year 2012, the company lowered its FFO guidance to a range of $2.30 to $2.36 per share. This compares to the previous guidance range of $2.30 to $2.42 per share.
Core FFO is currently forecast in the range of $2.42 to $2.48 per share, down from $2.42 to $2.54 per share announced previously.
Analysts currently expect the company to report full-year FFO of $2.49 per share.
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