Regency Centers (NASDAQ:REG) Issues FY24 Earnings Guidance

Regency Centers (NASDAQ:REG) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.15-4.21 for the period, compared to the consensus estimate of $4.17.

Regency Centers Price Performance

Shares of NASDAQ REG traded up $0.91 during mid-day trading on Thursday, reaching $60.02. 1,350,940 shares of the company traded hands, compared to its average volume of 1,261,785. The firm has a market cap of $11.09 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 3.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.85 and a quick ratio of 0.85. Regency Centers has a fifty-two week low of $54.72 and a fifty-two week high of $68.47. The stock has a fifty day simple moving average of $59.80 and a 200-day simple moving average of $61.71.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 4.47%. Regency Centers’s payout ratio is 131.37%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on REG shares. Mizuho assumed coverage on Regency Centers in a research note on Thursday, April 18th. They set a neutral rating and a $60.00 price objective for the company. Evercore ISI upgraded Regency Centers from an in-line rating to an outperform rating and boosted their price objective for the stock from $69.00 to $71.00 in a report on Monday, January 22nd. Truist Financial raised their target price on shares of Regency Centers from $71.00 to $72.00 and gave the stock a buy rating in a report on Tuesday, January 16th. Wells Fargo & Company started coverage on shares of Regency Centers in a report on Thursday, February 1st. They set an overweight rating and a $70.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Regency Centers in a research note on Tuesday, January 30th. They issued a buy rating and a $74.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Regency Centers has an average rating of Moderate Buy and an average target price of $70.73.

Regency Centers Company Profile

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.