Regency Centers Corporation (REG) Expected to Post Quarterly Sales of $252.41 Million
Wall Street brokerages predict that Regency Centers Corporation (NYSE:REG) will report sales of $252.41 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Regency Centers Corporation’s earnings. The highest sales estimate is $260.61 million and the lowest is $239.75 million. Regency Centers Corporation posted sales of $152.77 million during the same quarter last year, which would indicate a positive year over year growth rate of 65.2%. The company is scheduled to report its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Regency Centers Corporation will report full-year sales of $252.41 million for the current fiscal year, with estimates ranging from $897.65 million to $972.00 million. For the next financial year, analysts anticipate that the firm will post sales of $1.05 billion per share, with estimates ranging from $993.13 million to $1.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Regency Centers Corporation.
Regency Centers Corporation (NYSE:REG) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. Regency Centers Corporation had a net margin of 13.19% and a return on equity of 2.20%. The company had revenue of $240.42 million during the quarter, compared to the consensus estimate of $248.50 million. During the same quarter in the previous year, the company posted $0.81 earnings per share.
A number of research analysts recently commented on REG shares. Jefferies Group LLC upgraded Regency Centers Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $72.00 to $74.00 in a research note on Friday, June 16th. Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of Regency Centers Corporation in a research report on Monday, June 19th. Citigroup Inc. reiterated a “neutral” rating and issued a $67.00 price target (down from $70.00) on shares of Regency Centers Corporation in a research report on Monday, July 10th. BidaskClub upgraded Regency Centers Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $73.00 price target (up from $72.00) on shares of Regency Centers Corporation in a research report on Monday, July 10th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $74.18.
In other news, insider H Craig Ramey sold 1,048 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $62.17, for a total transaction of $65,154.16. Following the sale, the insider now owns 15,769 shares in the company, valued at $980,358.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Schweitzer sold 4,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $61.13, for a total value of $244,520.00. Following the sale, the director now owns 46,694 shares in the company, valued at approximately $2,854,404.22. The disclosure for this sale can be found here. 12.66% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in REG. Victory Capital Management Inc. acquired a new stake in shares of Regency Centers Corporation during the first quarter valued at approximately $176,000. Global X Management Co. LLC acquired a new stake in shares of Regency Centers Corporation during the second quarter valued at approximately $179,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Regency Centers Corporation during the first quarter valued at approximately $189,000. Parametrica Management Ltd acquired a new stake in shares of Regency Centers Corporation during the second quarter valued at approximately $222,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Regency Centers Corporation by 8.5% in the second quarter. Pacer Advisors Inc. now owns 3,682 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 290 shares during the last quarter. Institutional investors own 89.37% of the company’s stock.
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Regency Centers Corporation (REG) opened at 66.86 on Thursday. The stock’s 50 day moving average is $63.41 and its 200 day moving average is $65.34. Regency Centers Corporation has a one year low of $58.63 and a one year high of $83.34. The firm has a market cap of $11.35 billion, a P/E ratio of 115.28 and a beta of 0.56.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, August 14th. Regency Centers Corporation’s payout ratio is presently 353.34%.
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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