Regency Centers (NASDAQ:REG) Price Target Raised to $80.00

Regency Centers (NASDAQ:REG) had its target price increased by Mizuho from $78.00 to $80.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on REG. Deutsche Bank Aktiengesellschaft cut Regency Centers from a “buy” rating to a “hold” rating and increased their price objective for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. Robert W. Baird boosted their price objective on Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, November 4th. BTIG Research increased their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI lowered their target price on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.00.

Regency Centers Stock Performance

NASDAQ REG opened at $68.83 on Wednesday. Regency Centers has a fifty-two week low of $56.51 and a fifty-two week high of $76.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average is $73.75 and its two-hundred day moving average is $70.92. The firm has a market capitalization of $12.49 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 4.16 and a beta of 1.22.

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). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The business had revenue of $360.27 million during the quarter, compared to analyst estimates of $355.17 million. During the same period last year, the company earned $1.02 EPS. On average, research analysts anticipate that Regency Centers will post 4.28 earnings per share for the current year.

Regency Centers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 16th were issued a $0.705 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a yield of 4.10%. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio (DPR) is 132.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 buying an additional 1,908,153 shares during the last quarter. Waterfront Capital Partners LLC acquired a new position in Regency Centers during the third quarter worth about $33,628,000. JPMorgan Chase & Co. lifted its holdings in shares of Regency Centers by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock valued at $801,056,000 after purchasing an additional 435,932 shares in the last quarter. National Bank of Canada FI grew its position in shares of Regency Centers by 701.7% in the third quarter. National Bank of Canada FI now owns 361,597 shares of the company’s stock valued at $26,118,000 after purchasing an additional 316,496 shares during the last quarter. Finally, abrdn plc increased its stake in shares of Regency Centers by 199.7% during the 3rd quarter. abrdn plc now owns 375,059 shares of the company’s stock worth $27,006,000 after purchasing an additional 249,929 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other 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.