Regency Centers Corporation (REG) Expected to Announce Quarterly Sales of $254.32 Million
Wall Street brokerages predict that Regency Centers Corporation (NYSE:REG) will announce sales of $254.32 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Regency Centers Corporation’s earnings. The lowest sales estimate is $249.34 million and the highest is $260.61 million. Regency Centers Corporation posted sales of $152.77 million during the same quarter last year, which suggests a positive year-over-year growth rate of 66.5%. The company is expected to report its next quarterly earnings report after the market closes on Tuesday, November 7th.
On average, analysts expect that Regency Centers Corporation will report full year sales of $254.32 million for the current financial year, with estimates ranging from $943.87 million to $974.45 million. For the next financial year, analysts forecast that the company will report sales of $1.06 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 research analysts that that provide coverage for Regency Centers Corporation.
Regency Centers Corporation (NYSE:REG) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.03. The company had revenue of $240.42 million during the quarter, compared to the consensus estimate of $248.50 million. Regency Centers Corporation had a net margin of 13.19% and a return on equity of 2.20%. During the same period in the previous year, the firm posted $0.81 earnings per share.
Several brokerages have recently weighed in on REG. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers Corporation in a research note on Monday, August 7th. TheStreet raised shares of Regency Centers Corporation from a “c” rating to a “b-” rating in a research note on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $74.00 price target on shares of Regency Centers Corporation in a research note on Monday, July 17th. Zacks Investment Research cut shares of Regency Centers Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Barclays PLC decreased their price target on shares of Regency Centers Corporation from $73.00 to $71.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Regency Centers Corporation has a consensus rating of “Buy” and a consensus target price of $71.54.
Shares of Regency Centers Corporation (NYSE REG) opened at 62.87 on Thursday. The company has a market capitalization of $10.67 billion, a P/E ratio of 104.44 and a beta of 0.56. The firm has a 50-day moving average of $63.96 and a 200 day moving average of $63.95. Regency Centers Corporation has a 52-week low of $58.63 and a 52-week high of $75.15.
In related news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $64.30, for a total value of $67,885,239.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Lou Fiala sold 7,775 shares of the firm’s 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 completion of the transaction, the director now directly owns 17,145 shares of the company’s stock, valued at $1,127,112.30. The disclosure for this sale can be found here. 12.66% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC bought a new position in shares of Regency Centers Corporation in the second quarter valued at $124,000. Perigon Wealth Management LLC grew its stake in shares of Regency Centers Corporation by 93.2% in the second quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,025 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Regency Centers Corporation in the first quarter valued at $176,000. Global X Management Co. LLC bought a new position in shares of Regency Centers Corporation in the second quarter valued at $179,000. Finally, Advisor Group Inc. grew its stake in shares of Regency Centers Corporation by 15.6% in the second quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 404 shares in the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.
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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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