Analysts expect Regency Centers Co. (NYSE:REG) to report sales of $263.14 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Regency Centers’ earnings, with the highest sales estimate coming in at $266.68 million and the lowest estimate coming in at $261.20 million. Regency Centers posted sales of $189.43 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 38.9%. The company is expected to report its next earnings report after the market closes on Monday, April 30th.
On average, analysts expect that Regency Centers will report full year sales of $1.06 billion for the current fiscal year, with estimates ranging from $1.04 billion to $1.09 billion. For the next year, analysts expect that the firm will report sales of $1.11 billion per share, with estimates ranging from $1.07 billion to $1.14 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Regency Centers.
Regency Centers (NYSE:REG) last announced 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 Zacks’ consensus estimate of $0.92 by ($0.42). The firm had revenue of $257.95 million for the quarter, compared to analyst estimates of $257.60 million. Regency Centers had a return on equity of 2.71% and a net margin of 18.16%. During the same quarter in the prior year, the business earned $0.86 EPS.
Shares of NYSE REG traded down $1.00 during midday trading on Tuesday, reaching $56.10. 562,031 shares of the stock were exchanged, compared to its average volume of 1,144,090. The company has a market capitalization of $9,947.07, a P/E ratio of 15.30, a P/E/G ratio of 2.19 and a beta of 0.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.94 and a quick ratio of 0.94. Regency Centers has a twelve month low of $54.87 and a twelve month high of $70.64.
Regency Centers declared that its board has approved a stock buyback program 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Regency Centers news, Director Bryce Blair purchased 1,739 shares of the company’s stock in a transaction on Monday, March 19th. The stock was acquired at an average price of $57.50 per share, for a total transaction of $99,992.50. Following the completion of the purchase, the director now directly owns 10,842 shares in the company, valued at approximately $623,415. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Chaim Katzman sold 257,076 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $64.33, for a total transaction of $16,537,699.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,077,640 shares of company stock valued at $121,684,475. Insiders own 1.10% of the company’s stock.
Several large investors have recently bought and sold shares of the business. Aperio Group LLC grew its stake in shares of Regency Centers by 1.7% in the fourth quarter. Aperio Group LLC now owns 54,445 shares of the real estate investment trust’s stock worth $3,767,000 after acquiring an additional 934 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Regency Centers by 3.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 29,981 shares of the real estate investment trust’s stock worth $2,074,000 after purchasing an additional 950 shares during the last quarter. Lenox Wealth Management Inc. lifted its position in shares of Regency Centers by 11.0% during the 4th quarter. Lenox Wealth Management Inc. now owns 11,053 shares of the real estate investment trust’s stock worth $765,000 after purchasing an additional 1,095 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Regency Centers by 3.0% during the 4th quarter. APG Asset Management N.V. now owns 37,955 shares of the real estate investment trust’s stock worth $2,187,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Regency Centers by 13.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,802 shares of the real estate investment trust’s stock worth $670,000 after purchasing an additional 1,285 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.
About Regency Centers
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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