Regency Centers (NASDAQ:REG) Issues FY 2024 Earnings Guidance

Regency Centers (NASDAQ:REG) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 4.210-4.250 for the period, compared to the consensus EPS estimate of 4.23. The company issued revenue guidance of -.

Regency Centers Price Performance

NASDAQ REG opened at $71.59 on Monday. The company has a 50 day moving average price of $70.18 and a two-hundred day moving average price of $63.72. Regency Centers has a 12-month low of $56.29 and a 12-month high of $75.26. The stock has a market capitalization of $12.99 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 4.66 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 (NASDAQ:REG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. The business had revenue of $357.25 million during the quarter, compared to the consensus estimate of $361.56 million. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, equities analysts predict that Regency Centers will post 4.23 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, September 12th. Regency Centers’s payout ratio is 130.73%.

Analyst Ratings Changes

REG has been the topic of several analyst reports. Wells Fargo & Company increased their price target on Regency Centers from $69.00 to $79.00 and gave the company an overweight rating in a report on Wednesday, August 28th. 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 research note on Tuesday, September 10th. Mizuho boosted their target price on shares of Regency Centers from $67.00 to $73.00 and gave the stock an outperform rating in a research report on Monday, August 19th. Evercore ISI downgraded Regency Centers from an outperform rating to an inline rating and raised their price target for the company from $72.00 to $75.00 in a research report on Monday, September 16th. Finally, Raymond James boosted their price objective on Regency Centers from $67.00 to $75.00 and gave the stock an outperform rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $76.10.

Insider Activity at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’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 completion of the sale, the chairman now owns 307,199 shares in the company, valued at approximately $21,503,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction 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 transaction, the chairman now owns 307,199 shares in the company, valued at approximately $21,503,930. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction dated 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. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Regency Centers Company Profile

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.