Zacks: Analysts Expect Regency Centers Corp (NYSE:REG) Will Announce Quarterly Sales of $278.93 Million

Equities research analysts forecast that Regency Centers Corp (NYSE:REG) will report $278.93 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Regency Centers’ earnings, with the lowest sales estimate coming in at $274.60 million and the highest estimate coming in at $285.10 million. Regency Centers posted sales of $277.07 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.7%. The company is expected to announce its next quarterly earnings results on Wednesday, February 12th.

According to Zacks, analysts expect that Regency Centers will report full-year sales of $1.11 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.13 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.14 billion, with estimates ranging from $1.10 billion to $1.19 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Regency Centers.

Regency Centers (NYSE:REG) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.62). The firm had revenue of $282.28 million during the quarter, compared to the consensus estimate of $275.37 million. Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. During the same quarter in the prior year, the firm posted $0.41 earnings per share.

A number of brokerages have commented on REG. Scotiabank downgraded shares of Regency Centers from an “outperform” rating to a “sector perform” rating in a report on Monday, November 4th. Barclays reiterated a “buy” rating and issued a $75.00 target price on shares of Regency Centers in a report on Sunday, October 13th. Compass Point began coverage on shares of Regency Centers in a report on Thursday, August 15th. They issued a “neutral” rating and a $67.00 target price for the company. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $66.00 target price on shares of Regency Centers in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Regency Centers currently has a consensus rating of “Hold” and a consensus target price of $69.48.

Hedge funds have recently modified their holdings of the company. Korea Investment CORP grew its stake in shares of Regency Centers by 495.2% during the second quarter. Korea Investment CORP now owns 12,500 shares of the real estate investment trust’s stock worth $834,000 after acquiring an additional 10,400 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of Regency Centers during the second quarter worth about $6,071,000. State Street Corp grew its stake in shares of Regency Centers by 2.2% during the third quarter. State Street Corp now owns 12,326,987 shares of the real estate investment trust’s stock worth $856,602,000 after acquiring an additional 269,047 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Regency Centers by 5.7% during the second quarter. Vanguard Group Inc. now owns 26,661,698 shares of the real estate investment trust’s stock worth $1,779,402,000 after acquiring an additional 1,427,631 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of Regency Centers during the third quarter worth about $267,000. Institutional investors and hedge funds own 93.87% of the company’s stock.

Shares of Regency Centers stock opened at $63.77 on Tuesday. The company has a market capitalization of $10.90 billion, a PE ratio of 17.28, a P/E/G ratio of 2.50 and a beta of 0.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50-day simple moving average of $66.48 and a two-hundred day simple moving average of $66.83. Regency Centers has a one year low of $55.50 and a one year high of $70.26.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.585 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.34 dividend on an annualized basis and a dividend yield of 3.67%. Regency Centers’s payout ratio is 63.41%.

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

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