$254.33 Million in Sales Expected for Regency Centers Corporation (REG) This Quarter
Wall Street analysts predict that Regency Centers Corporation (NYSE:REG) will announce sales of $254.33 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Regency Centers Corporation’s earnings. The lowest sales estimate is $249.34 million and the highest is $260.61 million. Regency Centers Corporation reported sales of $152.77 million during the same quarter last year, which would suggest a positive year over year growth rate of 66.5%. The business is scheduled to issue its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Regency Centers Corporation will report full year sales of $254.33 million for the current financial year, with estimates ranging from $943.87 million to $974.45 million. For the next fiscal year, analysts expect that the firm will report sales of $1.06 billion per share, with estimates ranging from $1.04 billion to $1.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Regency Centers Corporation.
Regency Centers Corporation (NYSE:REG) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.03. The company had revenue of $240.42 million during the quarter, compared to analysts’ expectations of $248.50 million. Regency Centers Corporation had a net margin of 13.19% and a return on equity of 2.20%. During the same quarter in the previous year, the company earned $0.81 earnings per share.
Several analysts have recently commented on REG shares. Jefferies Group LLC restated a “hold” rating and issued a $72.00 target price on shares of Regency Centers Corporation in a research note on Friday, May 26th. BidaskClub upgraded shares of Regency Centers Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of Regency Centers Corporation in a report on Monday, June 19th. Barclays PLC reiterated an “equal weight” rating and issued a $73.00 price target (up previously from $72.00) on shares of Regency Centers Corporation in a report on Monday, July 10th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $67.00 price target (down previously from $70.00) on shares of Regency Centers Corporation in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $71.54.
In other Regency Centers Corporation news, Director Mary Lou Fiala sold 7,775 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $65.74, for a total transaction of $511,128.50. Following the completion of the transaction, the director now directly owns 17,145 shares in the company, valued at approximately $1,127,112.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Chaim Katzman sold 1,055,758 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $64.30, for a total transaction of $67,885,239.40. The disclosure for this sale can be found here. Company insiders own 12.66% of the company’s stock.
Large investors have recently bought and sold shares of the business. IHT Wealth Management LLC purchased a new position in Regency Centers Corporation during the 2nd quarter valued at about $124,000. Perigon Wealth Management LLC increased its holdings in Regency Centers Corporation by 93.2% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 1,025 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Regency Centers Corporation during the 1st quarter valued at about $176,000. Global X Management Co. LLC purchased a new position in Regency Centers Corporation during the 2nd quarter valued at about $179,000. Finally, Advisor Group Inc. increased its holdings in Regency Centers Corporation by 15.6% during the 2nd quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.
Shares of Regency Centers Corporation (REG) opened at 65.00 on Friday. The stock has a market cap of $11.03 billion, a PE ratio of 107.97 and a beta of 0.56. Regency Centers Corporation has a 1-year low of $58.63 and a 1-year high of $79.96. The stock’s 50 day moving average is $65.31 and its 200-day moving average is $64.30.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, August 14th. This represents a $2.12 annualized dividend and a yield of 3.26%. Regency Centers Corporation’s dividend payout ratio (DPR) is currently 353.34%.
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About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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