Regency Centers Co. (NASDAQ:REG) Receives $77.42 Consensus Price Target from Brokerages

Regency Centers Co. (NASDAQ:REG) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $77.42.

REG has been the topic of several recent analyst reports. Evercore ISI dropped their price target on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Robert W. Baird lifted their price target on shares of Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a “buy” rating to a “hold” rating and upped their price objective for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. BTIG Research lifted their target price on Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. upped their target price on Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, November 4th.

Regency Centers Price Performance

Shares of REG opened at $73.03 on Wednesday. The firm has a 50-day simple moving average of $73.94 and a two-hundred day simple moving average of $70.63. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.95. Regency Centers has a 1-year low of $56.51 and a 1-year high of $76.53. The stock has a market cap of $13.25 billion, a PE ratio of 34.29, a P/E/G ratio of 4.16 and a beta of 1.22.

Regency Centers (NASDAQ:REG) last released its earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). The company had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. During the same quarter last year, the business posted $1.02 earnings per share. As a group, analysts forecast that Regency Centers will post 4.28 EPS for the current year.

Regency Centers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 16th were issued a dividend of $0.705 per share. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.82 annualized dividend and a dividend yield of 3.86%. Regency Centers’s dividend payout ratio (DPR) is 132.39%.

Institutional Investors Weigh In On Regency Centers

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Regency Centers by 39.9% in the fourth quarter. GAMMA Investing LLC now owns 3,891 shares of the company’s stock valued at $288,000 after acquiring an additional 1,109 shares during the last quarter. JPMorgan Chase & Co. increased its position in Regency Centers by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock worth $801,056,000 after purchasing an additional 435,932 shares in the last quarter. Franklin Resources Inc. lifted its position in Regency Centers by 6.3% during the third quarter. Franklin Resources Inc. now owns 278,647 shares of the company’s stock valued at $19,703,000 after buying an additional 16,617 shares in the last quarter. Tidal Investments LLC grew its stake in Regency Centers by 17.8% during the third quarter. Tidal Investments LLC now owns 7,417 shares of the company’s stock worth $536,000 after buying an additional 1,120 shares during the period. Finally, World Investment Advisors LLC purchased a new position in shares of Regency Centers in the 3rd quarter valued at $782,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Company Profile

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.