Regency Centers (NASDAQ:REG) Posts Earnings Results, Misses Expectations By $0.50 EPS

Regency Centers (NASDAQ:REG) issued its earnings results on Monday. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.50), Zacks reports. Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. The company had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same quarter in the prior year, the business posted $1.02 EPS. Regency Centers updated its FY24 guidance to $4.27-4.29 EPS.

Regency Centers Price Performance

NASDAQ REG traded up $0.27 on Wednesday, reaching $72.70. The company had a trading volume of 2,472,144 shares, compared to its average volume of 1,091,391. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $13.19 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 4.42 and a beta of 1.21. The firm’s 50 day moving average price is $72.09 and its 200 day moving average price is $65.97. Regency Centers has a 12 month low of $56.51 and a 12 month high of $75.26.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Compass Point raised their target price on shares of Regency Centers from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. KeyCorp started coverage on shares of Regency Centers in a report on Friday, October 25th. They issued an “overweight” rating and a $80.00 target price on the stock. Raymond James lifted their price target on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Scotiabank lifted their price target on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and lifted their price target for the stock from $70.00 to $75.00 in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.55.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the sale, the chairman now directly owns 307,199 shares in the company, valued at approximately $21,503,930. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the completion of the transaction, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at $21,503,930. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

About Regency Centers

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. 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.