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Regency Centers Sees Profit Drop, Cuts Dividend

Stock quotes in this article: REG  

Shopping center developer Regency Centers(REG Quote), posted a 27% decline in first-quarter earnings and slashed its quarterly dividend on Wednesday.

During the quarter, the company earned $19.6 million, or 28 cents a share, compared to $26.7 million, or 38 cents, last year.

Funds from operations, a key measure of the real estate industry, decreased to $55 million, or 78 cents a share, compared to $61.2 million, or 87 cents, in the year-ago period. ...

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