Regency Centers Corporation (REG), headquartered in Jacksonville, Florida, is a leading real estate investment trust (REIT) that owns, operates, and develops shopping centers located in suburban trade areas with compelling demographics. Valued at $12.9 billion by market cap, the company’s portfolio includes properties with highly productive grocers, restaurants, service providers, and leading retailers. The leading retail REIT is expected to announce its fiscal fourth-quarter earnings for 2024 after the market closes on Thursday, Feb. 6.
Ahead of the event, analysts expect REG to report an FFO of $1.07 per share on a diluted basis, up 4.9% from $1.02 per share in the year-ago quarter. The company beat or matched Wall Street’s FFO estimates in its last four quarterly reports.
For the full year, analysts expect REG to report FFO of $4.28, up 3.1% from $4.15 in fiscal 2023. Its FFO is expected to rise 4.9% year over year to $4.49 in fiscal 2025.
REG stock has underperformed the S&P 500’s ($SPX) 26.5% gains over the past 52 weeks, with shares up 14% during this period. However, it outperformed the Real Estate Select Sector SPDR Fund’s (XLRE) 6.5% gains over the same time frame.
REG’s underperformance can be attributed to market fluctuations and high interest rates, dampening investor confidence.
On Oct. 28, REG shares closed up by 1% after reporting its Q3 results. The company’s revenue of $360.3 million exceeded Wall Street forecasts of $355.2 million. Its FFO was $1.07, surpassing analyst estimates of $1.04. REG expects full-year FFO to be between $4.27 and $4.29.
Analysts’ consensus opinion on REG stock is bullish, with a “Strong Buy” rating overall. Out of 17 analysts covering the stock, 11 advise a “Strong Buy” rating, two suggest a “Moderate Buy,” and four give a “Hold.” REG’s average analyst price target is $79.76, indicating a potential upside of 12% from the current levels.
