Brokerages expect Regency Centers Co. (NYSE:REG) to report earnings of $0.94 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Regency Centers’ earnings, with the lowest EPS estimate coming in at $0.92 and the highest estimate coming in at $0.95. Regency Centers reported earnings per share of $0.90 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.4%. The company is scheduled to announce its next earnings report after the market closes on Monday, April 30th.
On average, analysts expect that Regency Centers will report full year earnings of $3.80 per share for the current year, with EPS estimates ranging from $3.77 to $3.83. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.96 per share, with EPS estimates ranging from $3.89 to $4.01. Zacks’ EPS averages are an average based on a survey of analysts that cover Regency Centers.
Regency Centers (NYSE:REG) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.42). The firm had revenue of $257.95 million during the quarter, compared to analyst estimates of $257.60 million. Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. During the same quarter in the prior year, the business earned $0.86 earnings per share.
Several analysts have recently commented on REG shares. Wells Fargo restated an “outperform” rating and issued a $65.00 target price (down from $76.00) on shares of Regency Centers in a research note on Friday, March 2nd. Robert W. Baird reiterated a “buy” rating and set a $68.00 price target on shares of Regency Centers in a research note on Wednesday, March 21st. Morgan Stanley assumed coverage on Regency Centers in a research note on Tuesday, March 27th. They set an “overweight” rating and a $65.00 price target for the company. TheStreet downgraded Regency Centers from a “b-” rating to a “c” rating in a research note on Thursday, February 8th. Finally, Jefferies Group set a $64.00 price target on Regency Centers and gave the company a “hold” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $69.04.
In other Regency Centers news, Director John C. Schweitzer sold 7,136 shares of Regency Centers stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $58.36, for a total transaction of $416,456.96. Following the transaction, the director now owns 45,847 shares of the company’s stock, valued at approximately $2,675,630.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Chaim Katzman sold 204,602 shares of Regency Centers stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $64.90, for a total transaction of $13,278,669.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,347,072 shares of company stock worth $139,128,434. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Norinchukin Bank The lifted its position in shares of Regency Centers by 8.5% during the 3rd quarter. Norinchukin Bank The now owns 11,012 shares of the real estate investment trust’s stock worth $683,000 after buying an additional 861 shares in the last quarter. Aperio Group LLC lifted its position in shares of Regency Centers by 1.7% during the 4th quarter. Aperio Group LLC now owns 54,445 shares of the real estate investment trust’s stock worth $3,767,000 after buying an additional 934 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Regency Centers by 3.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 29,981 shares of the real estate investment trust’s stock worth $2,074,000 after buying an additional 950 shares in the last quarter. Lenox Wealth Management Inc. lifted its position in shares of Regency Centers by 11.0% during the 4th quarter. Lenox Wealth Management Inc. now owns 11,053 shares of the real estate investment trust’s stock worth $765,000 after buying an additional 1,095 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in shares of Regency Centers by 3.0% during the 4th quarter. APG Asset Management N.V. now owns 37,955 shares of the real estate investment trust’s stock worth $2,187,000 after buying an additional 1,100 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of REG traded up $0.27 during trading hours on Thursday, hitting $59.67. The stock had a trading volume of 876,453 shares, compared to its average volume of 1,199,465. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $10,010.27, a PE ratio of 16.17, a P/E/G ratio of 2.20 and a beta of 0.47. Regency Centers has a 1-year low of $54.87 and a 1-year high of $70.64.
Regency Centers declared that its board has approved a stock buyback program on Thursday, February 8th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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Regency Centers Company Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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