Regency Centers (NASDAQ:REG) Updates FY24 Earnings Guidance

Regency Centers (NASDAQ:REG) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $4.27-4.29 for the period, compared to the consensus earnings per share estimate of $4.23.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Compass Point increased their price target on Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lowered Regency Centers from a “buy” rating to a “hold” rating and raised their price objective for the company from $70.00 to $75.00 in a research report on Thursday, September 26th. Evercore ISI lowered Regency Centers from an “outperform” rating to an “inline” rating and increased their target price for the company from $72.00 to $75.00 in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their price target on Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.55.

Regency Centers Stock Performance

Regency Centers stock opened at $71.75 on Tuesday. Regency Centers has a 52 week low of $56.51 and a 52 week high of $75.26. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $13.02 billion, a P/E ratio of 34.33, a price-to-earnings-growth ratio of 4.42 and a beta of 1.21. The stock has a 50 day moving average of $72.05 and a 200-day moving average of $65.87.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). The company had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same quarter last year, the company earned $1.03 earnings per share. On average, analysts expect that Regency Centers will post 4.24 EPS for the current fiscal year.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Thursday, September 12th. Regency Centers’s dividend payout ratio is currently 128.23%.

Insiders Place Their Bets

In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the stock in a transaction 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 directly owns 13,010 shares of the company’s stock, valued at approximately $905,105.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 sale, the chairman now owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Herman sold 1,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total value of $69,570.00. Following the transaction, the vice president now owns 13,010 shares of the company’s stock, valued at approximately $905,105.70. The trade was a 0.00 % decrease in their ownership of the stock. 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.