Wall Street brokerages forecast that Regency Centers Corp (NYSE:REG) will report earnings per share (EPS) of $0.96 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Regency Centers’ earnings, with the lowest EPS estimate coming in at $0.95 and the highest estimate coming in at $0.98. Regency Centers also reported earnings of $0.96 per share during the same quarter last year. The firm is scheduled to issue its next earnings report on Monday, April 29th.
According to Zacks, analysts expect that Regency Centers will report full year earnings of $3.89 per share for the current financial year, with EPS estimates ranging from $3.85 to $3.93. For the next financial year, analysts expect that the business will report earnings of $4.04 per share, with EPS estimates ranging from $3.95 to $4.08. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Regency Centers.
Get Regency Centers alerts:Regency Centers (NYSE:REG) last released its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.48). The business had revenue of $277.07 million during the quarter, compared to analysts’ expectations of $269.96 million. Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. During the same period in the prior year, the company earned $0.92 earnings per share.
A number of analysts have recently weighed in on REG shares. SunTrust Banks reaffirmed a “buy” rating and issued a $69.00 target price on shares of Regency Centers in a research report on Monday, November 19th. Royal Bank of Canada downgraded shares of Regency Centers from a “top pick” rating to an “outperform” rating and set a $62.30 target price on the stock. in a research report on Friday, December 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $66.00 target price on shares of Regency Centers in a research report on Monday, December 17th. Zacks Investment Research raised shares of Regency Centers from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, January 29th. Finally, Barclays raised shares of Regency Centers from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $63.00 to $69.00 in a research report on Monday, February 4th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $69.12.
In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $64.92, for a total transaction of $3,246,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John C. Schweitzer sold 14,399 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $64.85, for a total transaction of $933,775.15. Following the transaction, the director now owns 36,510 shares in the company, valued at approximately $2,367,673.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,283 shares of company stock worth $5,597,966. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in Regency Centers during the 4th quarter valued at about $88,314,000. Kentucky Retirement Systems bought a new position in Regency Centers during the 4th quarter valued at about $432,000. Nordea Investment Management AB lifted its stake in Regency Centers by 61.2% during the 4th quarter. Nordea Investment Management AB now owns 266,009 shares of the real estate investment trust’s stock valued at $15,610,000 after acquiring an additional 100,948 shares during the period. Macquarie Group Ltd. lifted its stake in Regency Centers by 4.2% during the 4th quarter. Macquarie Group Ltd. now owns 316,211 shares of the real estate investment trust’s stock valued at $18,556,000 after acquiring an additional 12,645 shares during the period. Finally, Phocas Financial Corp. lifted its stake in shares of Regency Centers by 28.5% in the 4th quarter. Phocas Financial Corp. now owns 16,495 shares of the real estate investment trust’s stock worth $968,000 after purchasing an additional 3,660 shares during the period. Institutional investors and hedge funds own 93.87% of the company’s stock.
Shares of NYSE:REG traded down $0.24 during midday trading on Friday, reaching $63.77. The company’s stock had a trading volume of 781,845 shares, compared to its average volume of 893,055. The company has a market capitalization of $10.96 billion, a PE ratio of 17.28, a P/E/G ratio of 2.50 and a beta of 0.37. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.87 and a quick ratio of 0.87. Regency Centers has a 12-month low of $55.38 and a 12-month high of $67.10.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Monday, February 25th were paid a $0.585 dividend. This is a boost from Regency Centers’s previous quarterly dividend of $0.56. The ex-dividend date was Friday, February 22nd. This represents a $2.34 dividend on an annualized basis and a yield of 3.67%. Regency Centers’s payout ratio is presently 60.16%.
Regency Centers Company Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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