$263.76 Million in Sales Expected for Regency Centers Corp (REG) This Quarter

Wall Street brokerages expect that Regency Centers Corp (NYSE:REG) will report $263.76 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Regency Centers’ earnings. The lowest sales estimate is $260.56 million and the highest is $266.34 million. Regency Centers reported sales of $189.43 million during the same quarter last year, which indicates a positive year over year growth rate of 39.2%. The business is expected to announce its next earnings report on Tuesday, May 8th.

On average, analysts expect that Regency Centers will report full year sales of $263.76 million for the current fiscal year, with estimates ranging from $1.04 billion to $1.09 billion. For the next financial year, analysts forecast that the business will report sales of $1.11 billion per share, with estimates ranging from $1.08 billion to $1.15 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Regency Centers.

Regency Centers (NYSE:REG) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.42). Regency Centers had a net margin of 18.16% and a return on equity of 2.72%. The business had revenue of $257.95 million during the quarter, compared to analyst estimates of $257.60 million. During the same period last year, the firm posted $0.86 earnings per share.

Several analysts have recently commented on the company. Jefferies Group set a $69.00 price objective on Regency Centers and gave the company a “hold” rating in a report on Friday, December 15th. SunTrust Banks reiterated a “buy” rating and issued a $74.00 price objective on shares of Regency Centers in a report on Friday, December 1st. Zacks Investment Research cut Regency Centers from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. BMO Capital Markets set a $68.00 price objective on Regency Centers and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Regency Centers in a report on Monday, November 6th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $71.29.

Shares of Regency Centers (REG) traded up $1.12 during trading hours on Thursday, reaching $56.70. The company had a trading volume of 1,468,567 shares, compared to its average volume of 1,105,354. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $9,645.24, a PE ratio of 15.32, a P/E/G ratio of 1.88 and a beta of 0.43. Regency Centers has a 52 week low of $55.03 and a 52 week high of $72.05.

Regency Centers announced that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be issued a $0.555 dividend. This represents a dividend yield of 0.00978835978835979%. This is a boost from Regency Centers’s previous dividend of $0.38. The ex-dividend date is Friday, February 16th. Regency Centers’s dividend payout ratio is presently 243.68%.

In other news, Vice Chairman Chaim Katzman sold 52,771 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $64.14, for a total value of $3,384,731.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO J Christian Leavitt sold 2,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $67.61, for a total transaction of $135,220.00. Following the completion of the sale, the chief accounting officer now owns 14,314 shares in the company, valued at $967,769.54. The disclosure for this sale can be found here. Insiders sold 598,762 shares of company stock valued at $38,701,922 over the last ninety days. Corporate insiders own 12.66% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. IHT Wealth Management LLC acquired a new stake in Regency Centers during the second quarter worth approximately $124,000. Perigon Wealth Management LLC raised its stake in Regency Centers by 93.2% during the second quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,025 shares during the period. Advisor Group Inc. raised its stake in Regency Centers by 15.6% during the second quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 404 shares during the period. ZWJ Investment Counsel Inc. purchased a new position in Regency Centers during the fourth quarter worth approximately $201,000. Finally, Wetherby Asset Management Inc. purchased a new position in Regency Centers during the fourth quarter worth approximately $213,000. Institutional investors and hedge funds own 92.11% of the company’s stock.

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Regency Centers Company Profile

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

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