Evercore ISI Downgrades Regency Centers (NASDAQ:REG) to Inline

Regency Centers (NASDAQ:REG) was downgraded by Evercore ISI from an “outperform” rating to an “inline” rating in a research note issued on Monday, MarketBeat.com reports. They currently have a $75.00 target price on the stock, up from their previous target price of $72.00. Evercore ISI’s price objective would suggest a potential upside of 1.79% from the stock’s current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company boosted their price target on Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Scotiabank boosted their price target on Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Raymond James boosted their price target on Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Truist Financial boosted their price target on Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.55.

Regency Centers Stock Performance

REG stock opened at $73.68 on Monday. The company has a market cap of $13.37 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 4.63 and a beta of 1.21. Regency Centers has a 1 year low of $56.29 and a 1 year high of $75.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s fifty day moving average price is $69.63 and its 200-day moving average price is $63.52.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. The firm had revenue of $357.25 million during the quarter, compared to analysts’ expectations of $361.56 million. During the same quarter last year, the business earned $1.03 earnings per share. On average, equities analysts forecast that Regency Centers will post 4.23 earnings per share for the current year.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at $21,503,930. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at $21,503,930. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael R. Herman sold 1,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the transaction, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

Institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Regency Centers by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 312,155 shares of the company’s stock valued at $18,904,000 after purchasing an additional 49,188 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Regency Centers by 36.9% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 375,952 shares of the company’s stock worth $25,189,000 after buying an additional 101,260 shares during the period. FORA Capital LLC raised its holdings in shares of Regency Centers by 493.7% in the first quarter. FORA Capital LLC now owns 25,061 shares of the company’s stock worth $1,518,000 after buying an additional 20,840 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Regency Centers by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock worth $547,995,000 after buying an additional 873,062 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Regency Centers by 14.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 116,726 shares of the company’s stock worth $6,998,000 after buying an additional 14,410 shares during the period. 96.07% of the stock is owned by institutional investors.

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.