Regency Centers (NASDAQ:REG) Announces Quarterly Earnings Results, Misses Expectations By $0.50 EPS

Regency Centers (NASDAQ:REG) announced its quarterly earnings results on Monday. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50), Zacks reports. The company had revenue of $360.27 million during the quarter, compared to the consensus estimate of $355.17 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same quarter last year, the company earned $1.02 earnings per share. Regency Centers updated its FY24 guidance to $4.27-4.29 EPS.

Regency Centers Stock Up 3.2 %

NASDAQ:REG traded up $2.29 during trading hours on Tuesday, reaching $74.04. 45,337 shares of the stock were exchanged, compared to its average volume of 1,078,199. The firm has a 50 day moving average of $72.05 and a 200 day moving average of $65.87. Regency Centers has a twelve month low of $56.51 and a twelve month high of $75.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $13.44 billion, a PE ratio of 34.33, a PEG ratio of 4.42 and a beta of 1.21.

Regency Centers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $2.68 annualized dividend and a dividend yield of 3.62%. Regency Centers’s dividend payout ratio is currently 128.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Raymond James lifted their price objective on Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a “buy” rating to a “hold” rating and upped their price target for the stock from $70.00 to $75.00 in a research report on Thursday, September 26th. Compass Point raised their price objective on shares of Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Truist Financial upped their target price on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Evercore ISI lowered shares of Regency Centers from an “outperform” rating to an “inline” rating and raised their price target for the company from $72.00 to $75.00 in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.55.

Insider Transactions at Regency Centers

In other news, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 13,010 shares in the company, valued at approximately $905,105.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total value of $69,570.00. Following the transaction, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers stock in a transaction dated 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 owns 307,199 shares of the company’s stock, valued at $21,503,930. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

About Regency Centers

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.