Regency Centers Corporation Reports FFO Results for the Fourth Quarter and Fiscal Year 2012; Reports Impairment Charges for the Fourth Quarter of 2012; Revises Earnings Guidance for the Full Year of 2013; Declares Quarterly Dividend, Payable on February 27, 2013
Core FFO was $2.56 per share for the year.
In the fourth quarter of 2012, the company recognized an impairment charge of $50 million triggered by the decision to sell Deer Springs Town Center and exit the Las Vegas market.
For the year 2013, the company expects Core FFO per diluted share of $2.48 to $2.56 against previous guidance of $2.45 to $2.53. FFO per diluted share of $2.45 to $2.53 against previous guidance of $2.42 to $2.50. Guidance for same property NOI remains unchanged to 2% to 3%.
On January 28, 2013, the board of directors declared a quarterly cash dividend on the company's common stock of $0.4625 per share, payable on February 27, 2013 to shareholders of record on February 13, 2013.