Regency Centers (NASDAQ:REG) Issues FY 2024 Earnings Guidance

Regency Centers (NASDAQ:REG) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.210-4.250 for the period, compared to the consensus earnings per share estimate of 4.23. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of brokerages have commented on REG. Mizuho upped their price target on Regency Centers from $67.00 to $73.00 and gave the stock an outperform rating in a research report on Monday, August 19th. Truist Financial increased their target price on shares of Regency Centers from $70.00 to $78.00 and gave the stock a buy rating in a report on Friday, August 16th. Raymond James lifted their price target on shares of Regency Centers from $67.00 to $75.00 and gave the company an outperform rating in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on shares of Regency Centers from $71.00 to $77.00 and gave the stock an overweight rating in a research note on Thursday, August 8th. Finally, Scotiabank raised their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the company a sector perform rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Regency Centers has an average rating of Moderate Buy and a consensus price target of $75.55.

Regency Centers Price Performance

Shares of NASDAQ:REG opened at $72.13 on Friday. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 4.66 and a beta of 1.21. The firm has a fifty day moving average price of $69.86 and a 200 day moving average price of $63.59. Regency Centers has a fifty-two week low of $56.29 and a fifty-two week high of $75.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Regency Centers (NASDAQ:REG) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.48). The company had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same period last year, the company earned $1.03 EPS. As a group, sell-side analysts expect that Regency Centers will post 4.23 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Thursday, September 12th. Regency Centers’s payout ratio is 130.73%.

Insider Transactions at Regency Centers

In other news, VP Michael R. Herman sold 1,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the sale, the vice president now directly owns 13,010 shares in the company, valued at approximately $905,105.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the sale, the chairman now directly owns 307,199 shares in the company, valued at $21,503,930. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael R. Herman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $69.57, for a total value of $69,570.00. Following the sale, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

About Regency Centers

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.