Regency Centers Corp Shares Gap Up After Earnings Beat (REG)
Shares of Regency Centers Corp (NYSE:REG) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings, Analyst RN reports. The stock had previously closed at $53.80, but opened at $53.82. Regency Centers Corp shares last traded at $55.13, with a volume of 700,056 shares changing hands.
The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.67 by $0.04. During the same quarter last year, the company posted $0.67 earnings per share.
REG has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Regency Centers Corp from $51.00 to $53.00 in a research note on Monday, July 21st. They now have an “equal weight” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Regency Centers Corp from $51.00 to $55.00 in a research note on Friday, July 11th. They now have a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.50.
The stock’s 50-day moving average is $55.36 and its 200-day moving average is $52.38. The company has a market cap of $5.055 billion and a price-to-earnings ratio of 37.40.
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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