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

Regency Centers (NASDAQ:REG) released its earnings results on Monday. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.50), Zacks reports. The company had revenue of $360.27 million during the quarter, compared to the consensus estimate 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 in the previous year, the business posted $1.02 EPS. Regency Centers updated its FY24 guidance to $4.27-4.29 EPS.

Regency Centers Price Performance

Regency Centers stock opened at $72.70 on Thursday. Regency Centers has a 52 week low of $56.51 and a 52 week high of $75.26. The firm has a market cap of $13.19 billion, a P/E ratio of 34.13, a P/E/G ratio of 4.42 and a beta of 1.21. 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 business’s fifty day moving average is $72.13 and its two-hundred day moving average is $66.01.

Insider Activity at Regency Centers

In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the stock in a transaction dated Friday, August 16th. The shares were 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total value 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 approximately $905,105.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chairman now owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

REG has been the subject of several research reports. Truist Financial raised their target price on Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Scotiabank raised their price objective 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. Wells Fargo & Company lifted their target price 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. 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 research report on Tuesday, September 10th. Finally, Evercore ISI downgraded Regency Centers from an “outperform” rating to an “inline” rating and lifted their price objective for the company from $72.00 to $75.00 in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Regency Centers presently has an average rating of “Moderate Buy” and an average target price 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.