$256.60 Million in Sales Expected for Regency Centers Corporation (REG) This Quarter
Equities analysts expect Regency Centers Corporation (NYSE:REG) to report sales of $256.60 million for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Regency Centers Corporation’s earnings. The lowest sales estimate is $250.41 million and the highest is $263.90 million. Regency Centers Corporation posted sales of $152.99 million during the same quarter last year, which suggests a positive year-over-year growth rate of 67.7%. The firm is expected to report its next quarterly earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Regency Centers Corporation will report full year sales of $256.60 million for the current year, with estimates ranging from $943.87 million to $974.45 million. For the next financial year, analysts forecast that the company will post sales of $1.05 billion per share, with estimates ranging from $1.04 billion to $1.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Regency Centers Corporation.
Regency Centers Corporation (NYSE:REG) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.04. Regency Centers Corporation had a net margin of 17.59% and a return on equity of 2.82%. The business had revenue of $262.14 million during the quarter, compared to analysts’ expectations of $254.04 million. During the same period last year, the company posted $0.81 EPS.
REG has been the topic of a number of analyst reports. TheStreet upgraded shares of Regency Centers Corporation from a “c” rating to a “b-” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Regency Centers Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Thursday, September 14th. Argus decreased their target price on shares of Regency Centers Corporation from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, August 31st. Robert W. Baird restated a “buy” rating and set a $72.00 target price on shares of Regency Centers Corporation in a research report on Thursday, August 24th. Finally, BidaskClub upgraded shares of Regency Centers Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.86.
Shares of Regency Centers Corporation (NYSE REG) traded down $0.30 on Wednesday, hitting $66.91. 646,800 shares of the stock were exchanged, compared to its average volume of 1,182,202. Regency Centers Corporation has a fifty-two week low of $58.63 and a fifty-two week high of $72.05. The stock has a market cap of $11,433.13, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 0.63.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.12 annualized dividend and a dividend yield of 3.17%. Regency Centers Corporation’s payout ratio is 235.56%.
In related news, Vice Chairman Chaim Katzman sold 1,055,758 shares of Regency Centers Corporation stock in a transaction on Monday, September 11th. The shares were sold at an average price of $64.30, for a total transaction of $67,885,239.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Lou Fiala sold 7,775 shares of Regency Centers Corporation stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.74, for a total transaction of $511,128.50. Following the transaction, the director now owns 17,145 shares in the company, valued at approximately $1,127,112.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,068,033 shares of company stock worth $68,404,918 in the last 90 days. Company insiders own 12.66% of the company’s stock.
Several large investors have recently bought and sold shares of REG. IHT Wealth Management LLC purchased a new stake in Regency Centers Corporation during the 2nd quarter worth $124,000. Perigon Wealth Management LLC increased its position in shares of Regency Centers Corporation by 93.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,025 shares during the last quarter. Global X Management Co. LLC bought a new stake in shares of Regency Centers Corporation in the 2nd quarter worth about $179,000. Advisor Group Inc. increased its position in shares of Regency Centers Corporation by 15.6% in the 2nd quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 404 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its position in shares of Regency Centers Corporation by 342.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,100 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 90.65% of the company’s stock.
Regency Centers Corporation Company Profile
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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