Regency Centers (NASDAQ:REG) Price Target Lowered to $77.00 at Evercore ISI

Regency Centers (NASDAQ:REG) had its price target trimmed by Evercore ISI from $78.00 to $77.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other analysts also recently issued reports on REG. BTIG Research lifted their price objective on Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their price target on shares of Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Compass Point lifted their price objective on shares of Regency Centers from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Scotiabank boosted their target price on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Robert W. Baird increased their price target on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Regency Centers has an average rating of “Moderate Buy” and a consensus target price of $77.42.

Regency Centers Stock Up 1.0 %

NASDAQ REG opened at $74.50 on Tuesday. Regency Centers has a 12 month low of $56.51 and a 12 month high of $76.53. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. The stock has a market cap of $13.52 billion, a PE ratio of 34.98, a P/E/G ratio of 4.16 and a beta of 1.22. The stock’s 50 day moving average is $73.60 and its 200 day moving average is $69.96.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing the consensus estimate 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 return on equity of 5.85% and a net margin of 27.78%. During the same quarter in the previous year, the firm earned $1.02 EPS. Research analysts predict that Regency Centers will post 4.28 EPS for the current fiscal year.

Regency Centers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be given a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.79%. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. The ex-dividend date is Monday, December 16th. Regency Centers’s dividend payout ratio (DPR) is 132.39%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of REG. State Street Corp increased its holdings in Regency Centers by 1.1% during the third quarter. State Street Corp now owns 11,768,052 shares of the company’s stock valued at $857,892,000 after buying an additional 131,300 shares during the period. Principal Financial Group Inc. increased 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 valued at $555,009,000 after acquiring an additional 357,091 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Regency Centers by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,641,921 shares of the company’s stock valued at $164,327,000 after acquiring an additional 117,368 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Regency Centers by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,312,535 shares of the company’s stock worth $167,034,000 after acquiring an additional 71,278 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Regency Centers by 1,138.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock worth $149,932,000 after purchasing an additional 1,908,153 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.