Analysts expect Regency Centers Corp (NYSE:REG) to post sales of $274.40 million for the current quarter, according to Zacks. Four analysts have made estimates for Regency Centers’ earnings, with the lowest sales estimate coming in at $267.20 million and the highest estimate coming in at $277.69 million. Regency Centers reported sales of $269.54 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.8%. The company is scheduled to announce its next earnings results after the market closes on Thursday, May 2nd.
On average, analysts expect that Regency Centers will report full-year sales of $1.11 billion for the current year, with estimates ranging from $1.07 billion to $1.19 billion. For the next year, analysts forecast that the company will report sales of $1.14 billion, with estimates ranging from $1.10 billion to $1.22 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 Wednesday, February 13th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.48). Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. The company had revenue of $277.07 million for the quarter, compared to analyst estimates of $269.96 million. During the same quarter in the prior year, the business earned $0.92 earnings per share.
REG has been the topic of several research analyst reports. SunTrust Banks reiterated a “buy” rating and set a $70.00 price target on shares of Regency Centers in a research note on Friday, February 22nd. Barclays upgraded shares of Regency Centers from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $63.00 to $69.00 in a research note on Monday, February 4th. Zacks Investment Research lowered shares of Regency Centers from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. BMO Capital Markets set a $64.00 price target on shares of Regency Centers and gave the stock a “hold” rating in a research note on Thursday, February 14th. Finally, Citigroup set a $75.00 price objective on shares of Regency Centers and gave the stock a “buy” rating in a research report on Friday, February 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Regency Centers has a consensus rating of “Hold” and a consensus target price of $69.23.
NYSE:REG traded down $1.83 during midday trading on Friday, hitting $64.55. 28,095 shares of the company were exchanged, compared to its average volume of 825,996. Regency Centers has a fifty-two week low of $55.38 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $11.12 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.50 and a beta of 0.37.
In other news, insider Lisa Palmer sold 15,000 shares of Regency Centers stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $64.80, for a total value of $972,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of Regency Centers stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $64.92, for a total transaction of $3,246,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 101,941 shares of company stock worth $6,633,625 over the last three months. 1.10% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of REG. JPMorgan Chase & Co. boosted its holdings in shares of Regency Centers by 8.3% in the third quarter. JPMorgan Chase & Co. now owns 3,739,185 shares of the real estate investment trust’s stock valued at $241,813,000 after acquiring an additional 285,982 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Regency Centers by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 1,981,523 shares of the real estate investment trust’s stock valued at $128,144,000 after acquiring an additional 79,055 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Regency Centers by 1,010.1% in the third quarter. Renaissance Technologies LLC now owns 497,154 shares of the real estate investment trust’s stock valued at $32,151,000 after acquiring an additional 452,369 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Regency Centers by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 170,473 shares of the real estate investment trust’s stock valued at $11,025,000 after acquiring an additional 2,002 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Regency Centers by 57.9% in the third quarter. Pacer Advisors Inc. now owns 13,109 shares of the real estate investment trust’s stock valued at $848,000 after acquiring an additional 4,805 shares in the last quarter. 93.87% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Story: Diversification For Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Regency Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regency Centers and related companies with MarketBeat.com's FREE daily email newsletter.