Regency Centers (NASDAQ:REG) Updates FY 2024 Earnings Guidance

Regency Centers (NASDAQ:REG) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.150-4.210 for the period, compared to the consensus earnings per share estimate of 4.180. The company issued revenue guidance of -.

Regency Centers Stock Down 0.1 %

Shares of REG stock traded down $0.07 during mid-day trading on Monday, reaching $58.93. 783,694 shares of the company’s stock traded hands, compared to its average volume of 1,266,355. The company has a market cap of $10.89 billion, a P/E ratio of 28.75, a P/E/G ratio of 3.88 and a beta of 1.16. The company’s 50-day moving average price is $59.74 and its 200-day moving average price is $61.71. Regency Centers has a 12 month low of $54.72 and a 12 month high of $68.47. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 0.64.

Regency Centers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, June 12th. Regency Centers’s dividend payout ratio is currently 130.73%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on REG shares. Truist Financial increased their target price on shares of Regency Centers from $71.00 to $72.00 and gave the stock a buy rating in a report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Regency Centers in a research note on Tuesday, January 30th. They set a buy rating and a $74.00 target price for the company. Wells Fargo & Company began coverage on shares of Regency Centers in a research note on Thursday, February 1st. They issued an overweight rating and a $70.00 price target on the stock. Mizuho initiated coverage on Regency Centers in a research report on Thursday, April 18th. They set a neutral rating and a $60.00 price objective for the company. Finally, Evercore ISI upgraded Regency Centers from an in-line rating to an outperform rating and boosted their target price for the stock from $69.00 to $71.00 in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $70.73.

About Regency Centers

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.