Regency Centers Co. (NASDAQ:REG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Regency Centers Co. (NASDAQ:REG) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $76.20.

A number of equities research analysts have issued reports on 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 research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Evercore ISI downgraded shares of Regency Centers from an “outperform” rating to an “inline” rating and increased their price target for the stock from $72.00 to $75.00 in a research report on Monday, September 16th. Scotiabank boosted their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Mizuho raised their target price on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, August 19th.

Regency Centers Stock Performance

Shares of NASDAQ REG opened at $71.87 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $71.88 and its 200-day moving average price is $65.42. Regency Centers has a 52-week low of $56.51 and a 52-week high of $75.26. The company has a market cap of $13.28 billion, a PE ratio of 35.06, a PEG ratio of 4.52 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last announced its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). The company had revenue of $357.25 million for the quarter, compared to analysts’ expectations of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, analysts anticipate that Regency Centers will post 4.24 EPS for the current year.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.67 dividend. The ex-dividend date was Thursday, September 12th. This represents a $2.68 annualized dividend and a yield of 3.73%. Regency Centers’s payout ratio is 130.73%.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were 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 approximately $21,503,930. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 approximately $21,503,930. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $69.57, for a total value of $69,570.00. Following the completion of the sale, the vice president now directly owns 13,010 shares in the company, valued at approximately $905,105.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Regency Centers by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock valued at $1,749,520,000 after acquiring an additional 830,572 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Regency Centers by 10.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after purchasing an additional 873,062 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Regency Centers by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock worth $555,009,000 after purchasing an additional 357,091 shares during the period. Boston Partners increased its position in shares of Regency Centers by 4.1% during the 1st quarter. Boston Partners now owns 4,192,951 shares of the company’s stock valued at $253,902,000 after purchasing an additional 166,354 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Regency Centers by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,641,921 shares of the company’s stock valued at $164,327,000 after buying an additional 117,368 shares during the period. Institutional investors own 96.07% of the company’s stock.

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.