Regency Centers (NASDAQ:REG) Updates FY24 Earnings Guidance

Regency Centers (NASDAQ:REG) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.21-4.25 for the period, compared to the consensus earnings per share estimate of $4.23.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on REG. Raymond James raised their price target on Regency Centers from $67.00 to $75.00 and gave the company an outperform rating in a research report on Friday, August 16th. Wells Fargo & Company raised their target price on shares of Regency Centers from $69.00 to $79.00 and gave the company an overweight rating in a report on Wednesday, August 28th. Truist Financial upped their price target on shares of Regency Centers from $70.00 to $78.00 and gave the company a buy rating in a report on Friday, August 16th. Scotiabank lifted their price objective on Regency Centers from $65.00 to $75.00 and gave the stock a sector perform rating in a research report on Monday, August 26th. Finally, Evercore ISI increased their target price on Regency Centers from $71.00 to $72.00 and gave the company an outperform rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Regency Centers presently has an average rating of Moderate Buy and an average target price of $74.55.

Regency Centers Trading Up 2.5 %

Shares of REG opened at $74.44 on Tuesday. Regency Centers has a fifty-two week low of $56.29 and a fifty-two week high of $74.52. The stock has a fifty day moving average of $68.11 and a two-hundred day moving average of $62.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $13.75 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 4.53 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.48). The business had revenue of $357.25 million for the quarter, compared to analysts’ expectations of $361.56 million. Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. During the same quarter last year, the company posted $1.03 earnings per share. As a group, analysts forecast that Regency Centers will post 4.23 EPS for the current year.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.67 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.60%. Regency Centers’s payout ratio is 130.73%.

Insider Buying and Selling

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares in the company, valued at approximately $21,503,930. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the completion of the transaction, the vice president now owns 13,010 shares in the company, valued at approximately $905,105.70. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Regency Centers Company Profile

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. 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.