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

Regency Centers (NASDAQ:REG - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.210-4.250 for the period, compared to the consensus earnings per share estimate of 4.23. The company issued revenue guidance of -.

Regency Centers Stock Down 0.7 %

Shares of REG stock traded down $0.54 during mid-day trading on Friday, hitting $71.59. 2,242,544 shares of the stock traded hands, compared to its average volume of 1,133,651. The stock has a market cap of $12.99 billion, a P/E ratio of 34.92, a P/E/G ratio of 4.66 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock's fifty day moving average is $70.18 and its two-hundred day moving average is $63.71. Regency Centers has a 52-week low of $56.29 and a 52-week high of $75.26.

Regency Centers (NASDAQ:REG - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.48). The company had revenue of $357.25 million during the quarter, compared to analysts' expectations of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same period in the previous year, the business earned $1.03 earnings per share. Equities analysts predict that Regency Centers will post 4.23 EPS for the current year.

Regency Centers Announces Dividend

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 given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, September 12th. Regency Centers's payout ratio is currently 130.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Regency Centers from $69.00 to $79.00 and gave the company an overweight rating in a research report on Wednesday, August 28th. Mizuho increased their price target on shares of Regency Centers from $67.00 to $73.00 and gave the stock an outperform rating in a report on Monday, August 19th. Compass Point increased their price target on shares of Regency Centers from $75.00 to $80.00 and gave the stock a buy rating in a report on Tuesday, September 10th. Scotiabank increased their price target on shares of Regency Centers from $65.00 to $75.00 and gave the stock a sector perform rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Regency Centers from $71.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $75.55.

Insider Transactions at Regency Centers

In related news, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the sale, the vice president now owns 13,010 shares of the company's stock, valued at approximately $905,105.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the sale, the vice president now owns 13,010 shares of the company's stock, valued at approximately $905,105.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares in the company, valued at approximately $21,503,930. 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.