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

Regency Centers (NASDAQ:REG) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.210-4.250 for the period, compared to the consensus EPS estimate of 4.190. The company issued revenue guidance of -. Regency Centers also updated its FY24 guidance to $4.21-4.25 EPS.

Analyst Ratings Changes

A number of brokerages recently issued reports on REG. Mizuho raised shares of Regency Centers from a neutral rating to an outperform rating and increased their price target for the stock from $61.00 to $67.00 in a report on Tuesday, July 9th. Scotiabank reduced their price objective on shares of Regency Centers from $68.00 to $65.00 and set a sector perform rating for the company in a research report on Thursday, May 16th. Finally, Truist Financial reduced their price objective on shares of Regency Centers from $72.00 to $70.00 and set a buy rating for the company in a research report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $70.64.

Regency Centers Trading Up 2.5 %

Regency Centers stock traded up $1.73 during midday trading on Friday, hitting $70.29. 1,996,708 shares of the stock were exchanged, compared to its average volume of 973,591. Regency Centers has a fifty-two week low of $56.29 and a fifty-two week high of $71.30. The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 5.00 and a beta of 1.21. The stock’s 50-day simple moving average is $62.94 and its 200 day simple moving average is $61.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Regency Centers Announces Dividend

The company 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 dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, September 12th. Regency Centers’s payout ratio is currently 130.73%.

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.