Zacks: Brokerages Expect Regency Centers Corp (NYSE:REG) Will Post Quarterly Sales of $284.01 Million
Equities analysts expect Regency Centers Corp (NYSE:REG) to announce $284.01 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Regency Centers’ earnings, with the highest sales estimate coming in at $290.00 million and the lowest estimate coming in at $278.95 million. Regency Centers posted sales of $286.26 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.8%. The firm is expected to issue its next quarterly earnings report on Thursday, May 7th.
On average, analysts expect that Regency Centers will report full-year sales of $1.14 billion for the current fiscal year, with estimates ranging from $1.13 billion to $1.15 billion. For the next year, analysts anticipate that the firm will report sales of $1.19 billion, with estimates ranging from $1.18 billion to $1.20 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Regency Centers.
Regency Centers (NYSE:REG) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.16). Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. The firm had revenue of $280.86 million for the quarter, compared to the consensus estimate of $284.66 million. During the same quarter in the previous year, the business posted $0.46 EPS.
NYSE REG traded up $1.19 on Friday, reaching $64.02. 1,358,344 shares of the stock were exchanged, compared to its average volume of 800,916. Regency Centers has a one year low of $60.35 and a one year high of $70.26. The firm has a market capitalization of $10.58 billion, a PE ratio of 17.35, a PEG ratio of 2.50 and a beta of 0.37. The company’s 50-day simple moving average is $62.79 and its two-hundred day simple moving average is $65.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $0.595 per share. The ex-dividend date is Friday, February 21st. This represents a $2.38 annualized dividend and a dividend yield of 3.72%. This is a boost from Regency Centers’s previous quarterly dividend of $0.59. Regency Centers’s dividend payout ratio (DPR) is presently 63.41%.
Several institutional investors have recently added to or reduced their stakes in REG. Cubist Systematic Strategies LLC purchased a new position in shares of Regency Centers in the fourth quarter valued at $237,000. Orion Portfolio Solutions LLC purchased a new position in shares of Regency Centers in the fourth quarter valued at $31,000. AQR Capital Management LLC grew its holdings in shares of Regency Centers by 6.6% in the fourth quarter. AQR Capital Management LLC now owns 31,164 shares of the real estate investment trust’s stock valued at $1,966,000 after purchasing an additional 1,939 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Regency Centers in the fourth quarter valued at $424,000. Finally, First Republic Investment Management Inc. purchased a new position in Regency Centers during the fourth quarter worth $779,000. Hedge funds and other institutional investors own 93.87% 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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