Regency Centers Corp (NYSE:REG) – Equities research analysts at Boenning Scattergood dropped their Q2 2018 earnings per share (EPS) estimates for Regency Centers in a research note issued on Monday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings of $0.95 per share for the quarter, down from their previous estimate of $0.96. Boenning Scattergood has a “Hold” rating on the stock.
Regency Centers (NYSE:REG) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.42). The firm had revenue of $257.95 million during the quarter, compared to analyst estimates of $257.60 million. Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. During the same period last year, the business posted $0.86 earnings per share.
Shares of Regency Centers (REG) opened at $57.54 on Wednesday. The company has a market capitalization of $9,790.00, a price-to-earnings ratio of 66.14, a PEG ratio of 1.88 and a beta of 0.43. Regency Centers has a 52 week low of $54.87 and a 52 week high of $72.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.94 and a quick ratio of 0.63.
A number of hedge funds have recently bought and sold shares of REG. Perigon Wealth Management LLC lifted its holdings in Regency Centers by 93.2% during the second quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,025 shares in the last quarter. Advisor Group Inc. lifted its holdings in Regency Centers by 15.6% during the second quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock worth $188,000 after acquiring an additional 404 shares in the last quarter. ZWJ Investment Counsel Inc. bought a new position in Regency Centers during the fourth quarter worth about $201,000. Wetherby Asset Management Inc. bought a new position in Regency Centers during the fourth quarter worth about $213,000. Finally, WINTON GROUP Ltd bought a new position in Regency Centers during the third quarter worth about $219,000. Hedge funds and other institutional investors own 92.24% of the company’s stock.
In other Regency Centers news, Vice Chairman Chaim Katzman sold 52,771 shares of Regency Centers stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $64.14, for a total transaction of $3,384,731.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alan Todd Roth sold 2,500 shares of Regency Centers stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $69.89, for a total value of $174,725.00. Following the transaction, the director now owns 7,453 shares in the company, valued at $520,890.17. The disclosure for this sale can be found here. Insiders sold a total of 598,762 shares of company stock worth $38,701,922 over the last 90 days. 12.66% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be given a $0.555 dividend. This is a positive change from Regency Centers’s previous quarterly dividend of $0.38. This represents a $2.22 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Friday, February 16th. Regency Centers’s dividend payout ratio (DPR) is currently 243.68%.
Regency Centers declared that its board has authorized a stock buyback program on Thursday, February 8th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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About Regency Centers
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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