Regency Centers (NASDAQ:REG) Updates FY 2024 Earnings Guidance

Regency Centers (NASDAQ:REG) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.210-4.250 for the period, compared to the consensus earnings per share estimate of 4.23. The company issued revenue guidance of -.

Analyst Ratings Changes

REG has been the topic of several analyst reports. Evercore ISI lowered shares of Regency Centers from an outperform rating to an inline rating and boosted their price target for the company from $72.00 to $75.00 in a report on Monday, September 16th. JPMorgan Chase & Co. increased their price target on shares of Regency Centers from $71.00 to $77.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Truist Financial raised their price target on shares of Regency Centers from $70.00 to $78.00 and gave the stock a buy rating in a research note on Friday, August 16th. Wells Fargo & Company upped their price objective on Regency Centers from $69.00 to $79.00 and gave the company an overweight rating in a research note on Wednesday, August 28th. Finally, Scotiabank raised their target price 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $76.10.

Regency Centers Stock Performance

REG stock opened at $71.59 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Regency Centers has a twelve month low of $56.29 and a twelve month high of $75.26. The business’s fifty day moving average is $70.18 and its 200-day moving average is $63.71. The company has a market cap of $12.99 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 4.66 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The firm had revenue of $357.25 million during the quarter, compared to analyst estimates of $361.56 million. During the same quarter in the prior year, the business earned $1.03 earnings per share. Equities research analysts forecast that Regency Centers will post 4.23 EPS for the current year.

Regency Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.67 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.68 annualized dividend and a dividend yield of 3.74%. Regency Centers’s dividend payout ratio is presently 130.73%.

Insider Buying and Selling at Regency Centers

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

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.