Regency Centers Corp.’s Neutral Rating Reaffirmed at Zacks (REG)
Regency Centers Corp. (NYSE:REG)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday, ARN reports. They currently have a $55.00 target price on the stock. Zacks‘s price objective points to a potential upside of 6.03% from the company’s current price.
Zacks’ analyst wrote, “Regency is scheduled to release its first-quarter 2014 earnings results on May 7, after the closing bell. Continuing its winning streak, Regency reported a positive earnings surprise of 3.1% in fourth-quarter 2013. Higher revenue growth and improved core portfolio fundamentals aided the results. Regency primarily focuses on building a premium portfolio of grocery-anchored shopping centers. Such centers are usually necessity driven and internet resistant in nature and drive a dependable traffic. This drives value and mitigates operating risks. Additionally, the dividend increase enhances investor confidence in this stock. Yet, significant amount of impending development and redevelopment pipeline increases its operational risk, while stiff competition limits any robust demand for its properties. Also, anticipation for rise in interest rates and geographical concentration of its assets remains a concern. “
Shares of Regency Centers Corp. (NYSE:REG) traded up 0.29% on Thursday, hitting $52.34. 375,841 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 $50.73 and its 200-day moving average is $49.23. The company has a market cap of $4.813 billion and a P/E ratio of 37.17.
Regency Centers Corp. (NYSE:REG) last released its earnings data on Tuesday, February 11th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.64 by $0.02. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, analysts predict that Regency Centers Corp. will post $2.68 earnings per share for the current fiscal year.
A number of other firms have also recently commented on REG. Analysts at Barclays raised their price target on shares of Regency Centers Corp. from $43.00 to $45.00 in a research note on Monday, March 31st. Separately, analysts at Jefferies Group raised their price target on shares of Regency Centers Corp. to $45.00 in a research note on Wednesday, March 12th. They now have a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Regency Centers Corp. has an average rating of “Hold” and an average price target of $50.71.
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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