Wall Street analysts forecast that Regency Centers Corp (NYSE:REG) will report $267.51 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Regency Centers’ earnings. The highest sales estimate is $272.63 million and the lowest is $263.86 million. Regency Centers reported sales of $262.14 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The firm is scheduled to report its next earnings results after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that Regency Centers will report full year sales of $1.08 billion for the current year, with estimates ranging from $1.07 billion to $1.09 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.11 billion, with estimates ranging from $1.09 billion to $1.12 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Regency Centers.
Regency Centers (NYSE:REG) last released its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.06). Regency Centers had a return on equity of 3.83% and a net margin of 22.90%. The company had revenue of $274.53 million during the quarter, compared to the consensus estimate of $269.18 million. During the same period last year, the firm posted $0.93 earnings per share.
A number of research analysts have recently issued reports on the company. Citigroup upped their price target on Regency Centers from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, August 17th. ValuEngine raised Regency Centers from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. TheStreet raised Regency Centers from a “c+” rating to a “b-” rating in a report on Friday, July 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $65.00 price target on shares of Regency Centers in a report on Tuesday, September 25th. Finally, Deutsche Bank raised Regency Centers from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $72.00 in a report on Tuesday, August 28th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $69.36.
Regency Centers stock traded up $0.07 during mid-day trading on Friday, hitting $61.74. The company had a trading volume of 1,182,228 shares, compared to its average volume of 1,211,807. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.43 and a beta of 0.41. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. Regency Centers has a 12 month low of $54.87 and a 12 month high of $70.64.
In related news, insider Nicholas Andrew Wibbenmeyer sold 2,095 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $65.81, for a total transaction of $137,871.95. Following the completion of the sale, the insider now owns 2,086 shares in the company, valued at $137,279.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider H Craig Ramey sold 1,365 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $63.27, for a total value of $86,363.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,260 shares of company stock worth $532,456. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Regency Centers by 5.4% in the second quarter. FMR LLC now owns 3,369,276 shares of the real estate investment trust’s stock worth $209,165,000 after buying an additional 172,900 shares in the last quarter. Centersquare Investment Management LLC increased its position in Regency Centers by 53.0% in the second quarter. Centersquare Investment Management LLC now owns 3,258,097 shares of the real estate investment trust’s stock worth $202,263,000 after buying an additional 1,129,162 shares in the last quarter. Morgan Stanley increased its position in Regency Centers by 25.3% in the second quarter. Morgan Stanley now owns 3,207,953 shares of the real estate investment trust’s stock worth $199,149,000 after buying an additional 648,680 shares in the last quarter. Boston Partners increased its position in Regency Centers by 2.6% in the second quarter. Boston Partners now owns 3,136,700 shares of the real estate investment trust’s stock worth $194,726,000 after buying an additional 78,670 shares in the last quarter. Finally, Millennium Management LLC increased its position in Regency Centers by 120.3% in the second quarter. Millennium Management LLC now owns 2,487,328 shares of the real estate investment trust’s stock worth $154,413,000 after buying an additional 1,358,035 shares in the last quarter. Institutional investors own 93.43% of the company’s stock.
About Regency Centers
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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