Wall Street analysts predict that Regency Centers Co. (NASDAQ:REG) will report sales of $279.09 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Regency Centers' earnings, with the highest sales estimate coming in at $306.69 million and the lowest estimate coming in at $264.04 million. Regency Centers reported sales of $242.94 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.9%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, November 4th.
According to Zacks, analysts expect that Regency Centers will report full year sales of $1.11 billion for the current year, with estimates ranging from $1.07 billion to $1.18 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.15 billion, with estimates ranging from $1.10 billion to $1.21 billion. Zacks' sales averages are an average based on a survey of research firms that that provide coverage for Regency Centers.
Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, August 5th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.81 by ($0.25). Regency Centers had a net margin of 21.38% and a return on equity of 4.01%.
A number of equities research analysts have issued reports on REG shares. BTIG Research raised their price target on shares of Regency Centers from $69.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, September 15th. Scotiabank raised their price target on shares of Regency Centers from $63.00 to $70.00 and gave the stock a "sector perform" rating in a report on Monday, June 28th. Barclays started coverage on shares of Regency Centers in a report on Wednesday, September 1st. They issued an "equal weight" rating and a $70.00 price target on the stock. Robert W. Baird lifted their target price on shares of Regency Centers from $62.00 to $68.00 and gave the company a "neutral" rating in a research note on Wednesday, August 25th. Finally, Truist lifted their target price on shares of Regency Centers from $68.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, August 30th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $66.80.
In other Regency Centers news, CAO J Christian Leavitt sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $68.88, for a total value of $68,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 92,727 shares of the business's stock in a transaction on Tuesday, October 12th. The stock was sold at an average price of $70.01, for a total transaction of $6,491,817.27. The disclosure for this sale can be found here. Insiders have sold 97,049 shares of company stock valued at $6,793,636 over the last three months. 1.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its stake in Regency Centers by 14.9% during the second quarter. Quadrant Capital Group LLC now owns 1,402 shares of the company's stock valued at $90,000 after purchasing an additional 182 shares in the last quarter. Private Capital Group LLC raised its stake in Regency Centers by 82.0% during the third quarter. Private Capital Group LLC now owns 415 shares of the company's stock valued at $28,000 after purchasing an additional 187 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in Regency Centers by 1.0% during the second quarter. Mutual of America Capital Management LLC now owns 20,611 shares of the company's stock valued at $1,321,000 after purchasing an additional 194 shares in the last quarter. Banco de Sabadell S.A raised its stake in Regency Centers by 14.0% during the second quarter. Banco de Sabadell S.A now owns 1,694 shares of the company's stock valued at $109,000 after purchasing an additional 208 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in Regency Centers by 0.5% during the second quarter. Kovitz Investment Group Partners LLC now owns 44,668 shares of the company's stock valued at $2,862,000 after purchasing an additional 232 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors.
REG stock opened at $70.66 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.33 and a current ratio of 1.33. Regency Centers has a 52 week low of $33.29 and a 52 week high of $71.33. The firm's fifty day moving average is $67.88 and its 200 day moving average is $65.05. The firm has a market cap of $12.00 billion, a P/E ratio of 53.13, a P/E/G ratio of 1.84 and a beta of 1.15.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 5th. Stockholders of record on Wednesday, September 15th were issued a dividend of $0.595 per share. The ex-dividend date of this dividend was Tuesday, September 14th. This represents a $2.38 annualized dividend and a dividend yield of 3.37%. Regency Centers's payout ratio is 80.68%.
About Regency Centers
Regency Centers Corp. operates as a real estate investment trust, which engages in the ownership, operation, and development of retail shopping centers. Its portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to its neighborhoods, communities, and customers.
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