Regency Centers (REG) Set to Announce Quarterly Earnings on Monday

Regency Centers (NASDAQ:REG) is set to release its earnings data after the market closes on Monday, October 28th. Analysts expect Regency Centers to post earnings of $1.04 per share for the quarter. Regency Centers has set its FY24 guidance at $4.21-4.25 EPS and its FY 2024 guidance at 4.210-4.250 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. The company had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. During the same quarter last year, the firm posted $1.03 earnings per share. On average, analysts expect Regency Centers to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Regency Centers Stock Down 1.4 %

Shares of REG stock opened at $71.01 on Friday. The business’s fifty day moving average is $72.03 and its 200-day moving average is $65.72. The stock has a market cap of $13.12 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 4.48 and a beta of 1.21. Regency Centers has a 1 year low of $56.51 and a 1 year 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, September 12th. Regency Centers’s payout ratio is 130.73%.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. This represents a 0.00 % decrease in their ownership of the stock. 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 Regency Centers stock in a transaction 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 completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael R. Herman sold 1,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the transaction, the vice president now directly owns 13,010 shares in the company, valued at $905,105.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. KeyCorp initiated coverage on shares of Regency Centers in a research note on Friday. They set an “overweight” rating and a $80.00 price objective for the company. Mizuho increased their target price on Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Scotiabank raised their price objective on Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company upped their target price on Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a “buy” rating to a “hold” rating and increased their target price for the stock from $70.00 to $75.00 in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.55.

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.