Analysts expect Regency Centers Co. (NYSE:REG) to post sales of $262.70 million for the current quarter, according to Zacks. Six analysts have made estimates for Regency Centers’ earnings, with the lowest sales estimate coming in at $260.56 million and the highest estimate coming in at $266.68 million. Regency Centers reported sales of $189.43 million during the same quarter last year, which would suggest a positive year over year growth rate of 38.7%. The company is scheduled to announce its next earnings results after the market closes on Monday, April 30th.
On average, analysts expect that Regency Centers will report full-year sales of $262.70 million for the current year, with estimates ranging from $1.04 billion to $1.09 billion. For the next year, analysts forecast that the company will report sales of $1.11 billion per share, with estimates ranging from $1.07 billion to $1.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Regency Centers.
Regency Centers (NYSE:REG) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.42). Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. The company had revenue of $257.95 million for the quarter, compared to analyst estimates of $257.60 million. During the same quarter last year, the business earned $0.86 EPS.
REG has been the topic of several analyst reports. Robert W. Baird reiterated a “buy” rating and set a $68.00 price target on shares of Regency Centers in a report on Wednesday, March 21st. BTIG Research upgraded Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Monday, January 29th. SunTrust Banks set a $67.00 price objective on shares of Regency Centers and gave the stock a “buy” rating in a research note on Friday, March 2nd. TheStreet downgraded shares of Regency Centers from a “b-” rating to a “c” rating in a research note on Thursday, February 8th. Finally, Boenning Scattergood restated a “hold” rating on shares of Regency Centers in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $69.04.
REG stock traded up $1.05 during midday trading on Friday, hitting $58.75. 555,217 shares of the company traded hands, compared to its average volume of 1,203,267. Regency Centers has a twelve month low of $54.87 and a twelve month high of $70.64. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. The company has a market cap of $10,073.46, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.21 and a beta of 0.47.
Regency Centers declared that its Board of Directors has approved a stock repurchase program on Thursday, February 8th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Chaim Katzman sold 1,759,257 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $57.56, for a total value of $101,262,832.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bryce Blair bought 1,739 shares of Regency Centers stock in a transaction that occurred on Monday, March 19th. The stock was purchased at an average cost of $57.50 per share, with a total value of $99,992.50. Following the completion of the transaction, the director now owns 10,842 shares of the company’s stock, valued at $623,415. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 2,347,072 shares of company stock valued at $139,128,434. 1.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its position in Regency Centers by 11.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 777,315 shares of the real estate investment trust’s stock worth $53,775,000 after purchasing an additional 81,260 shares during the period. Deutsche Bank AG lifted its holdings in shares of Regency Centers by 41.1% during the fourth quarter. Deutsche Bank AG now owns 1,924,306 shares of the real estate investment trust’s stock valued at $133,118,000 after acquiring an additional 560,348 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in shares of Regency Centers by 71.3% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 59,212 shares of the real estate investment trust’s stock valued at $4,096,000 after acquiring an additional 24,648 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Regency Centers by 7.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,586,197 shares of the real estate investment trust’s stock valued at $98,408,000 after acquiring an additional 107,561 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Regency Centers by 3,080.1% during the third quarter. Advisors Asset Management Inc. now owns 7,505 shares of the real estate investment trust’s stock valued at $466,000 after acquiring an additional 7,269 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.
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Regency Centers Company Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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