Regency Centers (REG) Posts Earnings Results, Misses Estimates By $0.42 EPS
Regency Centers (NYSE:REG) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.42), RTT News reports. Regency Centers had a net margin of 17.59% and a return on equity of 2.82%. During the same period last year, the company posted $0.86 earnings per share. Regency Centers updated its FY18 guidance to $3.48-3.54 EPS.
Shares of Regency Centers (REG) traded down $0.05 during trading on Friday, reaching $55.53. The company had a trading volume of 621,601 shares, compared to its average volume of 1,057,641. The firm has a market cap of $9,786.46, a P/E ratio of 61.76, a PEG ratio of 1.91 and a beta of 0.43. Regency Centers has a twelve month low of $55.15 and a twelve month high of $72.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.63 and a quick ratio of 0.63.
Regency Centers announced that its Board of Directors has approved a stock buyback program on Thursday, February 8th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
REG has been the topic of a number of analyst reports. Zacks Investment Research downgraded Regency Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Robert W. Baird reaffirmed a “buy” rating on shares of Regency Centers in a research note on Friday, November 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a research note on Monday, November 6th. SunTrust Banks reaffirmed a “buy” rating and set a $74.00 price objective on shares of Regency Centers in a research note on Friday, December 1st. Finally, Jefferies Group set a $69.00 price objective on Regency Centers and gave the stock a “hold” rating in a research note on Friday, December 15th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Regency Centers has an average rating of “Buy” and an average price target of $71.29.
COPYRIGHT VIOLATION WARNING: “Regency Centers (REG) Posts Earnings Results, Misses Estimates By $0.42 EPS” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://theolympiareport.com/2018/02/09/regency-centers-reg-posts-earnings-results-hits-expectations.html.
About Regency Centers
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.
Receive News & Ratings for Regency Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regency Centers and related companies with MarketBeat.com's FREE daily email newsletter.