April 29 (Reuters) - Regency Centers REG.O beat first-quarter estimates for funds from operations (FFO) on Tuesday, supported by sustained, strong leasing demand for its commercial real estate spaces.
Real Estate Investment Trusts (REITs), including Regency Centers, have been benefiting from steady tenant demand, particularly from retailers and grocers experiencing consistent sales as consumers continue to spend on everyday essentials, such as groceries.
Regency Centers' portfolio comprises more than 400 properties leased to major grocers such as Kroger KR.N and Amazon's AMZN.O Whole Foods, as well as prominent retailers including TJX TJX.N, Kohl's KSS.N, Ulta Beauty ULTA.O, and Target TGT.N, among others.
For the quarter ended March 31, the company reported FFO of $1.15 per share compared to analysts' average estimate of $1.13 per share, according to data compiled by LSEG.
The company also reaffirmed its annual National Association of Real Estate Investment Trusts (Nareit) FFO per share forecast, which remains in the range of $4.52 to $4.58 per share.
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Mohammed Safi Shamsi)
((Aatrayee.Chatterjee@thomsonreuters.com))
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