Regency Centers Corp. Given Neutral Rating at Zacks (REG)
Regency Centers Corp. (NYSE:REG)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Monday, Analyst Ratings News reports. They currently have a $51.00 target price on the stock. Zacks‘ price objective indicates a potential upside of 5.66% from the company’s current price.
Zacks‘ analyst wrote, “Regency is scheduled to release its fourth-quarter 2013 earnings results after the closing bell on Feb 12. Aided by growth in same property net operating income (NOI) and better than expected revenues increase, the company’s third-quarter 2013 core FFO per share exceeded the Zacks Consensus Estimate and was higher than the year-ago quarter figure too. Moreover, Regency’s 2013 core FFO per share guidance raise is commendable. Inclusion of premium assets as well as development and redevelopment projects, along with leading national retailers as tenants is noteworthy. Most recently Regency provided an optimistic outlook for 2014, which is positive for investors’ confidence on the stock. Yet, a significant development and redevelopment pipeline increases its operational risk while stiff competition and rise in Internet sales limit any robust demand for its properties. Also, geographical concentration of its assets remains a concern. “
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Regency Centers Corp. from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Regency Centers Corp. in a research note to investors on Wednesday, January 15th. They now have a $50.00 price target on the stock, down previously from $52.00. Finally, analysts at ISI Group downgraded shares of Regency Centers Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, December 17th. They now have a $50.00 price target on the stock, down previously from $54.00. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.00.
Regency Centers Corp. (NYSE:REG) traded down 0.19% on Monday, hitting $48.27. 512,719 shares of the company’s stock traded hands. Regency Centers Corp. has a 1-year low of $45.31 and a 1-year high of $59.35. The stock’s 50-day moving average is $46.9 and its 200-day moving average is $49.44. The company has a market cap of $4.439 billion and a price-to-earnings ratio of 98.29.
Regency Centers Corp. (NYSE:REG) last released its earnings data on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.35. During the same quarter in the prior year, the company posted $0.62 earnings per share. Analysts expect that Regency Centers Corp. will post $2.61 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.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.