$298.91 Million in Sales Expected for Regency Centers Co. (NASDAQ:REG) This Quarter

Brokerages expect Regency Centers Co. (NASDAQ:REGGet Rating) to report $298.91 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Regency Centers’ earnings, with the lowest sales estimate coming in at $293.60 million and the highest estimate coming in at $306.62 million. Regency Centers reported sales of $287.16 million in the same quarter last year, which indicates a positive year over year growth rate of 4.1%. The business is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Regency Centers will report full-year sales of $1.21 billion for the current year, with estimates ranging from $1.17 billion to $1.25 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.26 billion, with estimates ranging from $1.23 billion to $1.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Regency Centers.

Regency Centers (NASDAQ:REGGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.69. Regency Centers had a return on equity of 7.30% and a net margin of 39.83%. During the same period in the prior year, the company earned $0.90 earnings per share.

A number of equities research analysts have recently commented on REG shares. Compass Point lowered their price objective on Regency Centers from $82.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, February 14th. Morgan Stanley lowered their price target on Regency Centers from $73.00 to $67.50 and set an “equal weight” rating for the company in a research report on Thursday, March 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Regency Centers from $92.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, March 31st. Finally, Truist Financial boosted their price target on Regency Centers from $82.00 to $87.00 in a research report on Tuesday, January 18th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.27.

Shares of NASDAQ:REG traded down $0.91 during midday trading on Thursday, reaching $66.03. The company’s stock had a trading volume of 1,230,731 shares, compared to its average volume of 984,295. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 6.09 and a beta of 1.08. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.60. Regency Centers has a 1 year low of $61.48 and a 1 year high of $78.78. The business has a 50 day moving average price of $69.27 and a 200 day moving average price of $71.08.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Wednesday, June 15th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Tuesday, June 14th. Regency Centers’s dividend payout ratio (DPR) is 89.93%.

In related news, Director Nicholas Andrew Wibbenmeyer sold 4,330 shares of the business’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $69.81, for a total value of $302,277.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in REG. Amundi Pioneer Asset Management Inc. increased its holdings in Regency Centers by 16.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 221,051 shares of the company’s stock valued at $14,919,000 after buying an additional 31,040 shares during the last quarter. Shell Asset Management Co. increased its holdings in Regency Centers by 8.0% in the third quarter. Shell Asset Management Co. now owns 8,690 shares of the company’s stock valued at $585,000 after buying an additional 640 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Regency Centers by 17.2% in the third quarter. PNC Financial Services Group Inc. now owns 19,391 shares of the company’s stock valued at $1,305,000 after buying an additional 2,843 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in Regency Centers by 78.2% in the third quarter. Advisor Group Holdings Inc. now owns 6,766 shares of the company’s stock valued at $457,000 after buying an additional 2,970 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in Regency Centers by 39.5% in the third quarter. Truist Financial Corp now owns 16,345 shares of the company’s stock valued at $1,100,000 after buying an additional 4,627 shares during the last quarter. 91.72% of the stock is owned by hedge funds and other institutional investors.

About Regency Centers (Get Rating)

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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Earnings History and Estimates for Regency Centers (NASDAQ:REG)

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