Regency Centers (NASDAQ:REG) Issues FY24 Earnings Guidance

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

Analyst Ratings Changes

Several brokerages have recently weighed in on REG. Robert W. Baird boosted their target price on Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their target price on Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Raymond James upped their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, Truist Financial lifted their target price on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $76.67.

Regency Centers Stock Performance

Shares of REG stock traded down $0.20 during mid-day trading on Thursday, hitting $72.50. 442,530 shares of the stock were exchanged, compared to its average volume of 1,088,315. Regency Centers has a 12-month low of $56.51 and a 12-month high of $75.26. 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 stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 4.42 and a beta of 1.21. The stock’s fifty day simple moving average is $72.13 and its two-hundred day simple moving average is $66.01.

Regency Centers (NASDAQ:REG) last announced its earnings results on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.50). The company had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same quarter last year, the business posted $1.02 earnings per share. On average, analysts forecast that Regency Centers will post 4.24 EPS for the current year.

Insider Buying and Selling at Regency Centers

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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the business’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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. The trade was 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 owned by corporate insiders.

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.