Regency Centers Corporation (REG) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Regency Centers Corporation (NYSE:REG) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.04, Briefing.com reports. Regency Centers Corporation had a return on equity of 2.20% and a net margin of 13.19%. During the same period in the previous year, the firm posted $0.81 EPS. Regency Centers Corporation updated its FY17 guidance to $3.62-3.68 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.44%. Regency Centers Corporation’s dividend payout ratio is presently 353.34%.
In other Regency Centers Corporation news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $64.30, for a total value of $67,885,239.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Lou Fiala sold 7,775 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $65.74, for a total transaction of $511,128.50. Following the completion of the sale, the director now owns 17,145 shares in the company, valued at approximately $1,127,112.30. The disclosure for this sale can be found here. 12.66% of the stock is currently owned by company insiders.
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REG has been the topic of several recent research reports. TheStreet upgraded Regency Centers Corporation from a “c” rating to a “b-” rating in a research report on Thursday, August 3rd. Argus dropped their price target on Regency Centers Corporation from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, August 31st. Robert W. Baird restated a “buy” rating and issued a $72.00 price target on shares of Regency Centers Corporation in a research report on Thursday, August 24th. Jefferies Group LLC restated a “buy” rating and issued a $74.00 price target on shares of Regency Centers Corporation in a research report on Monday, July 17th. Finally, BidaskClub upgraded Regency Centers Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Regency Centers Corporation has an average rating of “Buy” and an average target price of $71.46.
About Regency Centers Corporation
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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