Wall Street brokerages predict that Regency Centers Co. (NYSE:REG) will announce $0.94 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued 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 posted earnings per share of $0.90 during the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The company is scheduled to report its next quarterly 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 financial year, with EPS estimates ranging from $3.77 to $3.83. For the next year, analysts expect that the business will report earnings of $3.96 per share, with EPS estimates ranging from $3.89 to $4.01. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Regency Centers.
Regency Centers (NYSE:REG) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 earnings per share 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 analysts’ expectations of $257.60 million. Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. During the same period in the previous year, the firm posted $0.86 earnings per share.
Several analysts have commented on the company. Barclays reaffirmed a “hold” rating and set a $63.00 price objective on shares of Regency Centers in a research note on Tuesday. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a research note on Monday, February 12th. BTIG Research raised Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Monday, January 29th. Jefferies Group set a $62.00 price objective on Regency Centers and gave the company a “hold” rating in a research note on Friday, April 13th. Finally, BMO Capital Markets set a $68.00 price objective on Regency Centers and gave the company a “hold” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $68.32.
REG traded up $0.08 on Friday, hitting $58.66. 216,343 shares of the company traded hands, compared to its average volume of 1,149,357. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. The company has a market cap of $9,996.60, a PE ratio of 15.82, a P/E/G ratio of 2.20 and a beta of 0.47. Regency Centers has a 12-month low of $54.87 and a 12-month high of $70.64.
Regency Centers declared that its board has initiated a stock buyback program on Thursday, February 8th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
In other Regency Centers news, Director John C. Schweitzer sold 7,136 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 in the company, valued at approximately $2,675,630.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Chaim Katzman sold 257,076 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $64.33, for a total value of $16,537,699.08. The disclosure for this sale can be found here. Insiders have sold a total of 2,095,240 shares of company stock worth $122,811,931 in the last quarter. 1.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REG. UBS Asset Management Americas Inc. grew its holdings in shares of Regency Centers by 11.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 777,315 shares of the real estate investment trust’s stock worth $53,775,000 after acquiring an additional 81,260 shares during the period. Deutsche Bank AG grew its holdings in shares of Regency Centers by 41.1% in the 4th quarter. Deutsche Bank AG now owns 1,924,306 shares of the real estate investment trust’s stock worth $133,118,000 after acquiring an additional 560,348 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in shares of Regency Centers by 71.3% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 59,212 shares of the real estate investment trust’s stock worth $4,096,000 after acquiring an additional 24,648 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Regency Centers by 5.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,748,229 shares of the real estate investment trust’s stock worth $120,942,000 after acquiring an additional 95,645 shares during the period. Finally, Teachers Advisors LLC grew its holdings in shares of Regency Centers by 1.0% in the 4th quarter. Teachers Advisors LLC now owns 863,375 shares of the real estate investment trust’s stock worth $59,728,000 after acquiring an additional 8,892 shares during the period. Institutional investors own 91.60% of the company’s stock.
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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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