Regency Centers Corp. Stock Rating Reaffirmed by Zacks (REG)
Regency Centers Corp. (NYSE:REG)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. They currently have a $50.00 price target on the stock. Zacks‘ price target suggests a potential upside of 4.41% from the stock’s previous close.
Zacks‘ analyst wrote, “Regency is scheduled to release its third-quarter 2013 earnings results after the closing bell on Oct 30. Aided by significant leasing, growth in same property net operating income (NOI) and portfolio restructuring activities, the company’s second-quarter 2013 core FFO per share exceeded the Zacks Consensus Estimate. However, it missed the year-ago figure as a dip in overall revenues acted as the dampener. Nonetheless, Regency’s 2013 core FFO per share guidance raise is noteworthy. Also, inclusion of premium assets and development and redevelopment projects as well as leading national retailers as tenants is noteworthy. Yet, stiff competition from other players in the market, rise in interest rates, geographical concentration of assets and rise in Internet sales that adversely affect the demand for retail space remain our concerns. Hence, our Neutral recommendation on Regency remains in place.”
A number of other analysts have also recently weighed in on REG. Analysts at Jefferies Group cut their price target on shares of Regency Centers Corp. from $50.00 to $49.00 in a research note to investors on Wednesday, September 18th. They now have a “hold” rating on the stock. Separately, analysts at Capital One Financial Corp. initiated coverage on shares of Regency Centers Corp. in a research note to investors on Monday, September 16th. They set an “add” rating on the stock. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of Regency Centers Corp. in a research note to investors on Tuesday, September 10th. They set a “neutral” rating on the stock. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.50.
Shares of Regency Centers Corp. (NYSE:REG) traded down 0.06% on Wednesday, hitting $47.89. The stock had a trading volume of 330,691 shares. Regency Centers Corp. has a 52-week low of $44.80 and a 52-week high of $59.35. The stock’s 50-day moving average is $48.44 and its 200-day moving average is $51.84. The company has a market cap of $4.402 billion and a price-to-earnings ratio of 203.05.
Regency Centers Corp. (NYSE:REG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03. During the same quarter in the previous year, the company posted $0.69 earnings per share. Analysts expect that Regency Centers Corp. will post $2.59 EPS for the current fiscal year.
Regency Centers Corporation is a real estate investment trust (NYSE:REG) and is the managing general partner in Regency Centers, L.
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