Regency Centers (NASDAQ:REG) Releases FY24 Earnings Guidance

Regency Centers (NASDAQ:REG) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.21-4.25 for the period, compared to the consensus estimate of $4.19. Regency Centers also updated its FY 2024 guidance to 4.210-4.250 EPS.

Regency Centers Stock Performance

REG stock traded up $1.73 on Friday, reaching $70.29. 1,996,708 shares of the company were exchanged, compared to its average volume of 973,591. The firm has a market capitalization of $12.99 billion, a PE ratio of 34.29, a PEG ratio of 5.00 and a beta of 1.21. Regency Centers has a 12 month low of $56.29 and a 12 month high of $71.30. The stock’s fifty day moving average price is $62.94 and its 200 day moving average price is $61.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.37.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.67 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.68 annualized dividend and a dividend yield of 3.81%. Regency Centers’s payout ratio is 130.73%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on REG. Truist Financial lowered their price target on Regency Centers from $72.00 to $70.00 and set a buy rating on the stock in a research note on Monday, May 20th. Mizuho upgraded Regency Centers from a neutral rating to an outperform rating and boosted their price objective for the company from $61.00 to $67.00 in a research report on Tuesday, July 9th. Finally, Scotiabank cut their target price on Regency Centers from $68.00 to $65.00 and set a sector perform rating for the company in a research note on Thursday, May 16th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Regency Centers currently has a consensus rating of Moderate Buy and a consensus target price of $70.64.

Regency Centers Company Profile

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. 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.