Regency Centers (NASDAQ:REG) Posts Earnings Results, Misses Estimates By $0.50 EPS

Regency Centers (NASDAQ:REG) announced its quarterly earnings results on Monday. The company reported $0.54 earnings per share (EPS) 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 analysts’ expectations 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 in the prior year, the business earned $1.02 EPS. Regency Centers updated its FY24 guidance to $4.27-4.29 EPS.

Regency Centers Trading Up 0.9 %

Shares of REG stock opened at $72.43 on Wednesday. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 4.42 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 fifty-two week low of $56.51 and a fifty-two week high of $75.26. The firm’s 50 day moving average price is $72.09 and its two-hundred day moving average price is $65.97.

Wall Street Analyst Weigh In

REG has been the subject of several recent research reports. Truist Financial raised their target price 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. Compass Point raised their target price on shares of Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. raised their target price on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Scotiabank lifted their price target on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Evercore ISI downgraded shares of Regency Centers from an “outperform” rating to an “inline” rating and lifted their price target for the stock 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.55.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers 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 transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at $21,503,930. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers 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 transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at $21,503,930. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Herman sold 1,000 shares of Regency Centers 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 sale, the vice president now owns 13,010 shares in the company, valued at $905,105.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate 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.