Brokerages forecast that Regency Centers Corp (NYSE:REG) will post $253.90 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Regency Centers’ earnings, with the lowest sales estimate coming in at $239.73 million and the highest estimate coming in at $263.90 million. Regency Centers posted sales of $152.99 million in the same quarter last year, which suggests a positive year-over-year growth rate of 66%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, February 8th.
According to Zacks, analysts expect that Regency Centers will report full year sales of $253.90 million for the current financial year, with estimates ranging from $942.70 million to $976.56 million. For the next fiscal year, analysts anticipate that the company will report sales of $1.06 billion per share, with estimates ranging from $1.04 billion to $1.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Regency Centers.
Regency Centers (NYSE:REG) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.04. Regency Centers had a return on equity of 2.82% and a net margin of 17.59%. The business had revenue of $262.14 million for the quarter, compared to analyst estimates of $254.04 million. During the same quarter in the prior year, the firm posted $0.81 EPS.
REG has been the topic of several recent research reports. Zacks Investment Research upgraded Regency Centers from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Tuesday, October 10th. Jefferies Group set a $71.00 price objective on Regency Centers and gave the stock a “hold” rating in a research report on Friday, January 12th. SunTrust Banks reaffirmed a “buy” rating and set a $74.00 target price on shares of Regency Centers in a research note on Friday, December 1st. Boenning Scattergood raised Regency Centers from an “under perform” rating to a “neutral” rating in a research note on Tuesday, October 3rd. Finally, BMO Capital Markets set a $68.00 target price on Regency Centers and gave the stock a “hold” rating in a research note on Thursday, January 11th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Regency Centers presently has an average rating of “Buy” and a consensus price target of $71.23.
In related news, Vice Chairman Chaim Katzman sold 47,230 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $64.32, for a total value of $3,037,833.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO J Christian Leavitt sold 2,000 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $67.61, for a total value of $135,220.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,314 shares of the company’s stock, valued at $967,769.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,315 shares of company stock valued at $17,652,035. Corporate insiders own 12.66% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its stake in Regency Centers by 6.9% in the 4th quarter. State of Alaska Department of Revenue now owns 118,342 shares of the real estate investment trust’s stock valued at $8,184,000 after purchasing an additional 7,650 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Regency Centers in the 4th quarter valued at $1,364,000. Schwab Charles Investment Management Inc. raised its stake in Regency Centers by 6.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,681,275 shares of the real estate investment trust’s stock valued at $116,311,000 after purchasing an additional 95,078 shares during the last quarter. Somerset Trust Co raised its stake in Regency Centers by 22.2% in the 4th quarter. Somerset Trust Co now owns 24,822 shares of the real estate investment trust’s stock valued at $1,717,000 after purchasing an additional 4,511 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its stake in Regency Centers by 2.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 373,314 shares of the real estate investment trust’s stock valued at $25,826,000 after purchasing an additional 7,844 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.
Shares of Regency Centers (NYSE REG) opened at $63.77 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.63 and a quick ratio of 0.63. Regency Centers has a 52-week low of $58.63 and a 52-week high of $72.05. The company has a market capitalization of $10,847.95, a P/E ratio of 70.86, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58.
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About Regency Centers
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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