Regency Centers (NASDAQ:REG) Posts Earnings Results, Beats Estimates By $0.01 EPS

Regency Centers (NASDAQ:REG) announced its earnings results on Thursday. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.22 by $0.01, Zacks reports. Regency Centers had a return on equity of 8.04% and a net margin of 34.38%. The company had revenue of $419.06 million for the quarter, compared to analyst estimates of $420.27 million. During the same quarter in the prior year, the company earned $1.15 EPS.

Regency Centers Stock Down 0.7%

Shares of REG traded down $0.56 during trading hours on Thursday, hitting $76.28. The stock had a trading volume of 1,755,705 shares, compared to its average volume of 1,379,411. Regency Centers has a 1-year low of $66.86 and a 1-year high of $83.66. The firm has a market capitalization of $13.97 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 4.51 and a beta of 0.80. The firm has a 50 day simple moving average of $73.68 and a 200-day simple moving average of $76.67. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.25 and a quick ratio of 1.25.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on REG shares. Truist Financial started coverage on Regency Centers in a research note on Thursday, October 1st. They issued a “buy” rating and a $84.00 price target on the stock. Mizuho reduced their price objective on shares of Regency Centers from $82.00 to $76.00 and set a “neutral” rating for the company in a research report on Thursday, September 24th. Evercore set a $83.00 price objective on shares of Regency Centers in a research note on Thursday, July 30th. Argus set a $85.00 price objective on shares of Regency Centers in a research note on Monday, August 10th. Finally, UBS Group dropped their target price on shares of Regency Centers from $85.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.00.

Regency Centers Company Profile

Regency Centers Corporation is a real estate investment trust that owns, operates, develops and redevelops grocery-anchored shopping centers in the United States. Its properties are designed to serve everyday consumer needs and typically include supermarkets, restaurants, service providers, retailers and other commercial tenants.

The company focuses primarily on high-quality shopping centers located in established and growing communities, often in affluent or densely populated trade areas.