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

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

Regency Centers Stock Up 0.4 %

Shares of REG traded up $0.27 during mid-day trading on Wednesday, hitting $72.70. The company’s stock had a trading volume of 2,472,144 shares, compared to its average volume of 1,091,391. The company’s 50-day moving average is $72.09 and its 200-day moving average is $65.97. Regency Centers has a 52-week low of $56.51 and a 52-week high of $75.26. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 4.42 and a beta of 1.21. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on REG shares. JPMorgan Chase & Co. lifted their price target on shares of Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Scotiabank boosted their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Raymond James boosted their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Evercore ISI cut shares of Regency Centers from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $72.00 to $75.00 in a research report on Monday, September 16th. Finally, Truist Financial boosted their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Two 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.55.

Insider Transactions at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Michael R. Herman sold 1,000 shares of the 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 sale, the vice president now owns 13,010 shares of the company’s stock, valued at $905,105.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, 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 position. 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.