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JACKSONVILLE, FL-While its auditor’s first quarter review is not complete, officials at locally based Regency Centers Corp. have alerted industry analysts it expects funds from operations to be higher than previously forecast.

In a prepared April 17 statement, the New York Stock Exchange-traded company says diluted FFO per share is expected to be about 83 cents to 85 cents per share, up from the previously issued guidance of 75 cents to 80 cents per diluted share. Diluted FFO per share guidance for the full year of 2006 remains unchanged and is still expected to be about $3.78 to $3.86 per share, the company states.

“The updated first quarter guidance primarily reflects a favorable impact from earlier than expected development profits and terminations fees,” according to Regency’s statement. The company expects to release actual results after the market closes May 3 and has scheduled an earnings telephone conference call for May 4.

Regency Centers Corp. common closed April 17 at $62.75 per share, down 39 cents from the previous close April 13.

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