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Investing.com - Raymond (NSE:RYMD) James has raised its price target on Regency Centers (NASDAQ:REG) to $80.00 from $75.00 while maintaining an Outperform rating on the stock. The company, currently valued at $12.7 billion, has demonstrated solid revenue growth of 7.6% over the last twelve months.
The firm cited Regency Centers’ development and redevelopment pipeline as one of the best in the retail real estate sector, comparable to Federal Realty Investment Trust (NYSE:FRT), which it believes will drive longer-term value creation.
Raymond James noted that REG shares currently trade at 21 times its 2024 AFFO (Adjusted Funds From Operations) estimate, with the new $80 price target implying the stock will trade at 21 times 2025 estimated AFFO.
The investment firm believes a premium multiple is warranted for Regency Centers given its high-quality grocery-anchored portfolio and low-leveraged balance sheet.
Regency Centers is a real estate investment trust that owns, operates, and develops retail shopping centers anchored by grocery stores across the United States.
In other recent news, Regency Centers Corporation reported a robust first quarter for 2025, exceeding earnings expectations with an earnings per share (EPS) of 1.09, compared to the projected 0.5458. The company’s revenue also surpassed forecasts, reaching $381.79 million against an anticipated $375.3 million. Additionally, Regency Centers announced the pricing of a $400 million public offering of senior unsecured notes due in 2032, issued at 99.279% of par value with a 5.00% coupon rate. The proceeds from this offering are intended for reducing the company’s line of credit and paying off $250 million in outstanding notes due in 2025, among other corporate purposes.
Barclays (LON:BARC) initiated coverage on Regency Centers with an Equalweight rating, setting a price target of $77.00. The firm described Regency Centers as a "blue-chip name within Retail" with a strong long-term track record of shareholder returns compared to peers. These developments reflect Regency Centers’ strategic financial management and the positive reception from analysts.
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