Regency Centers (NASDAQ:REG) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on REG shares. Deutsche Bank Aktiengesellschaft cut Regency Centers from a "buy" rating to a "hold" rating and lifted their price target for the stock 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 upped their target price for the company from $72.00 to $75.00 in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on shares of Regency Centers from $71.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. Mizuho upped their price objective on shares of Regency Centers from $67.00 to $73.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Finally, Scotiabank raised their target price 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. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Regency Centers presently has an average rating of "Moderate Buy" and an average target price of $76.55.

Regency Centers Price Performance

Shares of Regency Centers stock traded up $0.74 on Monday, hitting $71.75. The company's stock had a trading volume of 740,088 shares, compared to its average volume of 1,083,163. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $13.02 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 4.42 and a beta of 1.21. The firm has a fifty day moving average price of $72.05 and a 200-day moving average price of $65.87. Regency Centers has a 1 year low of $56.51 and a 1 year high of $75.26.

Regency Centers (NASDAQ:REG - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.54 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 company had revenue of $357.25 million for the quarter, compared to analysts' expectations of $361.56 million. During the same period in the prior year, the firm earned $1.03 EPS. As a group, sell-side analysts anticipate that Regency Centers will post 4.24 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.74%. Regency Centers's payout ratio is presently 128.23%.

Insiders Place Their Bets

In other news, VP Michael R. Herman sold 1,000 shares of the business's stock in a transaction that occurred 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 directly owns 13,010 shares of the company's stock, valued at approximately $905,105.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers stock in a transaction dated 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 transaction, the chairman now directly owns 307,199 shares of the company's stock, valued at $21,503,930. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael R. Herman sold 1,000 shares of the business's stock in a transaction dated 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 in the company, valued at $905,105.70. This trade represents 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.

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.