Brokerages predict that Regency Centers Corp (NYSE:REG) will announce earnings of $0.95 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Regency Centers’ earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $0.95. Regency Centers posted earnings per share of $0.92 in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.3%. The company is expected to issue its next earnings results on Thursday, February 14th.
According to Zacks, analysts expect that Regency Centers will report full year earnings of $3.79 per share for the current financial year, with EPS estimates ranging from $3.78 to $3.80. For the next financial year, analysts anticipate that the company will report earnings of $3.90 per share, with EPS estimates ranging from $3.85 to $3.93. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Regency Centers.
Regency Centers (NYSE:REG) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. The business had revenue of $278.31 million for the quarter, compared to the consensus estimate of $267.51 million.
REG has been the subject of several analyst reports. Wells Fargo & Co increased their price objective on Regency Centers from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Barclays reissued a “hold” rating and issued a $63.00 price objective on shares of Regency Centers in a research note on Sunday, October 14th. Citigroup raised Regency Centers from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $74.00 in a research note on Friday, September 14th. SunTrust Banks reissued a “buy” rating and issued a $69.00 price objective on shares of Regency Centers in a research note on Monday, November 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $65.00 price objective on shares of Regency Centers in a research note on Tuesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $69.30.
In other news, insider Nicholas Andrew Wibbenmeyer sold 2,095 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $65.81, for a total value of $137,871.95. Following the completion of the transaction, the insider now directly owns 2,086 shares of the company’s stock, valued at $137,279.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Regency Centers by 2.7% in the third quarter. Vanguard Group Inc. now owns 24,822,313 shares of the real estate investment trust’s stock valued at $1,605,260,000 after acquiring an additional 653,071 shares in the last quarter. BlackRock Inc. grew its holdings in Regency Centers by 7.6% during the third quarter. BlackRock Inc. now owns 16,535,804 shares of the real estate investment trust’s stock valued at $1,069,372,000 after purchasing an additional 1,163,234 shares during the period. Cohen & Steers Inc. grew its holdings in Regency Centers by 170.4% during the third quarter. Cohen & Steers Inc. now owns 10,944,435 shares of the real estate investment trust’s stock valued at $707,777,000 after purchasing an additional 6,896,949 shares during the period. Daiwa Securities Group Inc. grew its holdings in Regency Centers by 31.7% during the third quarter. Daiwa Securities Group Inc. now owns 4,292,020 shares of the real estate investment trust’s stock valued at $277,565,000 after purchasing an additional 1,032,217 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Regency Centers by 8.3% during the third quarter. JPMorgan Chase & Co. now owns 3,739,185 shares of the real estate investment trust’s stock valued at $241,813,000 after purchasing an additional 285,982 shares during the period. 93.87% of the stock is owned by institutional investors.
Shares of Regency Centers stock traded down $0.76 on Friday, hitting $65.06. The company had a trading volume of 1,241,798 shares, compared to its average volume of 1,176,480. The company has a market cap of $11.02 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. Regency Centers has a 1 year low of $54.87 and a 1 year high of $70.64. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.57.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th were issued a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Tuesday, November 13th. Regency Centers’s dividend payout ratio is presently 60.16%.
Regency Centers Company Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.
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