Regency Centers Corporation (REG) Expected to Post Quarterly Sales of $254.32 Million
Wall Street brokerages expect Regency Centers Corporation (NYSE:REG) to report $254.32 million in sales for the current quarter, according to Zacks. Six analysts have issued 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 posted sales of $152.77 million in the same quarter last year, which suggests a positive year over year growth rate of 66.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that Regency Centers Corporation will report full year sales of $254.32 million for the current financial year, with estimates ranging from $943.87 million to $974.45 million. For the next year, analysts forecast that the firm will post sales of $1.06 billion per share, with estimates ranging from $1.04 billion to $1.08 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Regency Centers Corporation.
Regency Centers Corporation (NYSE:REG) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.03. Regency Centers Corporation had a return on equity of 2.20% and a net margin of 13.19%. The firm had revenue of $240.42 million for the quarter, compared to analysts’ expectations of $248.50 million. During the same period in the previous year, the firm posted $0.81 EPS.
Several brokerages recently issued reports on REG. Robert W. Baird reissued a “buy” rating and set a $72.00 price objective on shares of Regency Centers Corporation in a report on Thursday, August 24th. Zacks Investment Research lowered shares of Regency Centers Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Argus cut their price target on shares of Regency Centers Corporation from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, August 31st. BidaskClub raised shares of Regency Centers Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, TheStreet raised shares of Regency Centers Corporation from a “c” rating to a “b-” rating in a report on Thursday, August 3rd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $71.46.
Shares of Regency Centers Corporation (NYSE REG) traded down 0.75% during mid-day trading on Tuesday, hitting $63.26. The stock had a trading volume of 345,670 shares. The stock has a market cap of $10.74 billion, a P/E ratio of 105.08 and a beta of 0.56. The company’s 50 day moving average is $63.57 and its 200-day moving average is $63.68. Regency Centers Corporation has a 52-week low of $58.63 and a 52-week high of $74.13.
In other Regency Centers Corporation news, Director Mary Lou Fiala sold 7,775 shares of Regency Centers Corporation stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.74, for a total value of $511,128.50. Following the completion of the transaction, the director now owns 17,145 shares of the company’s stock, valued at $1,127,112.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Chaim Katzman sold 1,055,758 shares of Regency Centers Corporation stock in a transaction on 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. 12.66% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IHT Wealth Management LLC purchased a new position in Regency Centers Corporation in the second quarter valued at $124,000. Perigon Wealth Management LLC increased its holdings in Regency Centers Corporation by 93.2% in the second quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,025 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Regency Centers Corporation in the first quarter valued at $176,000. Global X Management Co. LLC purchased a new position in Regency Centers Corporation in the second quarter valued at $179,000. Finally, Advisor Group Inc. increased its holdings in Regency Centers Corporation by 15.6% in the second quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 404 shares in the last quarter. 91.41% of the stock is owned by institutional investors.
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Regency Centers Corporation Company Profile
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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