Regency Centers (NASDAQ:REG) Issues FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on REG shares. Evercore ISI boosted their price objective on shares of Regency Centers from $71.00 to $72.00 and gave the stock an outperform rating in a report on Wednesday, August 28th. Scotiabank lifted their price objective on Regency Centers from $65.00 to $75.00 and gave the stock a sector perform rating in a report on Monday, August 26th. Mizuho raised their price target on shares of Regency Centers from $67.00 to $73.00 and gave the company an outperform rating in a report on Monday, August 19th. Wells Fargo & Company increased their price objective on shares of Regency Centers from $69.00 to $79.00 and gave the company an overweight rating in a research report on Wednesday, August 28th. Finally, Raymond James boosted their target price on shares of Regency Centers from $67.00 to $75.00 and gave the company an outperform rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $75.27.

Regency Centers Stock Up 1.0 %

REG stock opened at $75.18 on Wednesday. The business’s 50-day moving average price is $68.38 and its 200-day moving average price is $63.06. The stock has a market cap of $13.89 billion, a P/E ratio of 36.67, a PEG ratio of 4.53 and a beta of 1.21. 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 $75.19.

Regency Centers (NASDAQ:REG) last issued its quarterly 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 firm had revenue of $357.25 million for the quarter, compared to analysts’ expectations of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities research analysts forecast that Regency Centers will post 4.23 EPS for the current year.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.56%. Regency Centers’s dividend payout ratio is presently 130.73%.

Insider Transactions at Regency Centers

In other news, VP Michael R. Herman sold 1,000 shares of the business’s 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 transaction, the vice president now owns 13,010 shares of the company’s stock, valued at $905,105.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the firm’s 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 owns 13,010 shares in the company, valued at approximately $905,105.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the sale, the chairman now directly owns 307,199 shares in the company, valued at $21,503,930. The disclosure for this sale can be found here. Corporate 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.