Regency Centers (NASDAQ:REG) Updates FY24 Earnings Guidance

Regency Centers (NASDAQ:REG) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.21-4.25 for the period, compared to the consensus estimate of $4.19. Regency Centers also updated its FY 2024 guidance to 4.210-4.250 EPS.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on REG shares. Mizuho upgraded shares of Regency Centers from a neutral rating to an outperform rating and increased their target price for the stock from $61.00 to $67.00 in a report on Tuesday, July 9th. Truist Financial decreased their target price on Regency Centers from $72.00 to $70.00 and set a buy rating for the company in a report on Monday, May 20th. Finally, Scotiabank cut their price target on Regency Centers from $68.00 to $65.00 and set a sector perform rating on the stock in a report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $70.64.

Regency Centers Stock Performance

Shares of NASDAQ:REG traded up $1.22 during trading on Thursday, reaching $68.56. The company had a trading volume of 1,324,465 shares, compared to its average volume of 1,147,446. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s fifty day moving average price is $62.53 and its 200 day moving average price is $61.22. Regency Centers has a fifty-two week low of $56.29 and a fifty-two week high of $68.68. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 4.99 and a beta of 1.21.

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.