FY2020 EPS Estimates for Regency Centers Corp Cut by SunTrust Banks (REG)

Regency Centers Corp (NYSE:REG) – Equities research analysts at SunTrust Banks decreased their FY2020 EPS estimates for shares of Regency Centers in a research note issued on Monday, Zacks Investment Research reports. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will earn $4.08 per share for the year, down from their previous estimate of $4.10. SunTrust Banks currently has a “Buy” rating and a $74.00 target price on the stock. SunTrust Banks also issued estimates for Regency Centers’ FY2021 earnings at $4.22 EPS and FY2022 earnings at $4.42 EPS.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Regency Centers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Robert W. Baird reiterated a “buy” rating on shares of Regency Centers in a research report on Friday, November 3rd. Boenning Scattergood reiterated a “hold” rating on shares of Regency Centers in a research report on Monday. BTIG Research upgraded Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, January 29th. Finally, BMO Capital Markets set a $68.00 target price on Regency Centers and gave the company a “hold” rating in a research report on Thursday, January 11th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Regency Centers has a consensus rating of “Buy” and an average price target of $71.29.

Shares of Regency Centers (NYSE REG) traded up $0.39 during midday trading on Tuesday, hitting $58.05. The company had a trading volume of 74,707 shares, compared to its average volume of 1,079,278. Regency Centers has a 52 week low of $54.87 and a 52 week high of $72.05. The company has a quick ratio of 0.63, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $9,860.34, a PE ratio of 15.55, a P/E/G ratio of 1.89 and a beta of 0.43.

Regency Centers (NYSE:REG) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.42). Regency Centers had a return on equity of 2.71% and a net margin of 18.16%. The company had revenue of $257.95 million during the quarter, compared to the consensus estimate of $257.60 million. During the same quarter in the previous year, the business posted $0.86 EPS.

Several institutional investors have recently bought and sold shares of REG. Principal Financial Group Inc. lifted its stake in shares of Regency Centers by 3.9% in the third quarter. Principal Financial Group Inc. now owns 5,156,883 shares of the real estate investment trust’s stock worth $319,928,000 after acquiring an additional 193,020 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Regency Centers by 3,080.1% in the third quarter. Advisors Asset Management Inc. now owns 7,505 shares of the real estate investment trust’s stock worth $466,000 after acquiring an additional 7,269 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Regency Centers by 7.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,586,197 shares of the real estate investment trust’s stock worth $98,408,000 after acquiring an additional 107,561 shares during the period. Honeywell International Inc. lifted its stake in shares of Regency Centers by 27.8% in the third quarter. Honeywell International Inc. now owns 56,679 shares of the real estate investment trust’s stock worth $3,516,000 after acquiring an additional 12,312 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Regency Centers by 1.2% in the third quarter. Swiss National Bank now owns 651,279 shares of the real estate investment trust’s stock worth $40,405,000 after acquiring an additional 7,700 shares during the period. 92.24% of the stock is currently owned by institutional investors.

In other news, VP James D. Thompson sold 14,983 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $68.45, for a total transaction of $1,025,586.35. Following the sale, the vice president now directly owns 48,976 shares in the company, valued at $3,352,407.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO J Christian Leavitt sold 2,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $67.61, for a total value of $135,220.00. Following the sale, the chief accounting officer now owns 14,314 shares in the company, valued at $967,769.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 598,762 shares of company stock worth $38,701,922. Company insiders own 12.66% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.555 per share. This is a boost from Regency Centers’s previous quarterly dividend of $0.38. This represents a $2.22 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, February 16th. Regency Centers’s payout ratio is 243.68%.

Regency Centers declared that its board has approved a share buyback program on Thursday, February 8th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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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.

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Earnings History and Estimates for Regency Centers (NYSE:REG)

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