Regency Centers (NASDAQ:REG) Posts Quarterly Earnings Results, Misses Estimates By $0.50 EPS

Regency Centers (NASDAQ:REG - Get Free Report) announced its earnings results on Monday. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.50), Zacks reports. The firm had revenue of $360.27 million for the quarter, compared to the consensus estimate of $355.17 million. Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. During the same quarter last year, the business posted $1.02 EPS. Regency Centers updated its FY24 guidance to $4.27-4.29 EPS.

Regency Centers Price Performance

Shares of REG stock traded up $0.68 during trading hours on Tuesday, reaching $72.43. The company's stock had a trading volume of 1,421,787 shares, compared to its average volume of 1,084,784. The firm's 50 day simple moving average is $72.09 and its 200-day simple moving average is $65.97. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 4.42 and a beta of 1.21. Regency Centers has a fifty-two week low of $56.51 and a fifty-two week high of $75.26. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Thursday, September 12th. Regency Centers's dividend payout ratio is presently 128.23%.

Insider Buying and Selling 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 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 can be accessed through the SEC website. In related news, VP Michael R. Herman sold 1,000 shares of the firm's stock in a transaction on Friday, August 16th. The stock was 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 of the company's stock, valued at $905,105.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm's 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 sale, the chairman now directly owns 307,199 shares in the company, valued at approximately $21,503,930. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on REG shares. Deutsche Bank Aktiengesellschaft lowered Regency Centers from a "buy" rating to a "hold" rating and increased their target price for the stock from $70.00 to $75.00 in a research note on Thursday, September 26th. Mizuho increased their target price on Regency Centers from $67.00 to $73.00 and gave the stock an "outperform" rating in a research note on Monday, August 19th. KeyCorp started coverage on Regency Centers in a research note on Friday. They set an "overweight" rating and a $80.00 target price on the stock. Wells Fargo & Company increased their target price on Regency Centers from $69.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 28th. Finally, Compass Point raised their price objective on Regency Centers from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $76.55.

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.