Regency Centers Corp (NYSE:REG) – Equities researchers at SunTrust Banks cut their Q3 2018 earnings per share estimates for Regency Centers in a research note issued to investors on Wednesday, August 15th. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings per share of $0.94 for the quarter, down from their previous estimate of $0.95. SunTrust Banks also issued estimates for Regency Centers’ Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.78 EPS, FY2019 earnings at $3.87 EPS, FY2020 earnings at $3.95 EPS, FY2021 earnings at $4.00 EPS and FY2022 earnings at $4.11 EPS.
Regency Centers (NYSE:REG) last announced its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.06). Regency Centers had a net margin of 22.90% and a return on equity of 3.83%. The business had revenue of $274.53 million for the quarter, compared to the consensus estimate of $269.18 million. During the same quarter last year, the firm posted $0.93 EPS.
Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of Regency Centers from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday. ValuEngine upgraded shares of Regency Centers from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. Boenning Scattergood restated a “hold” rating on shares of Regency Centers in a report on Wednesday, May 2nd. TheStreet upgraded shares of Regency Centers from a “c+” rating to a “b-” rating in a report on Friday, July 27th. Finally, BMO Capital Markets restated a “hold” rating and set a $62.00 target price on shares of Regency Centers in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.04.
Shares of REG stock opened at $65.68 on Monday. Regency Centers has a 12 month low of $54.87 and a 12 month high of $70.64. The firm has a market cap of $10.72 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.35 and a beta of 0.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 29th. Investors of record on Wednesday, August 15th will be paid a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, August 14th. Regency Centers’s payout ratio is 60.16%.
In related news, insider Alan Todd Roth sold 2,300 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $65.15, for a total value of $149,845.00. Following the transaction, the insider now owns 8,181 shares in the company, valued at approximately $532,992.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider H Craig Ramey sold 1,365 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $63.27, for a total transaction of $86,363.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,165 shares of company stock worth $394,584. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Echo Street Capital Management LLC lifted its stake in Regency Centers by 671.3% during the 1st quarter. Echo Street Capital Management LLC now owns 346,308 shares of the real estate investment trust’s stock valued at $20,425,000 after acquiring an additional 301,408 shares during the period. Legal & General Group Plc lifted its stake in Regency Centers by 10.3% during the 1st quarter. Legal & General Group Plc now owns 1,187,864 shares of the real estate investment trust’s stock valued at $70,075,000 after acquiring an additional 111,185 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Regency Centers by 43.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 83,964 shares of the real estate investment trust’s stock valued at $5,212,000 after acquiring an additional 25,373 shares during the period. Glen Harbor Capital Management LLC lifted its stake in Regency Centers by 17.8% during the 1st quarter. Glen Harbor Capital Management LLC now owns 11,696 shares of the real estate investment trust’s stock valued at $690,000 after acquiring an additional 1,768 shares during the period. Finally, Natixis Advisors L.P. bought a new position in Regency Centers during the 1st quarter valued at about $604,000. Institutional investors own 90.94% of the company’s stock.
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.
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