Regency Centers Co. (NASDAQ:REG) Receives Average Rating of “Moderate Buy” from Brokerages

Regency Centers Co. (NASDAQ:REG) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $78.08.

REG has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Scotiabank decreased their target price on Regency Centers from $80.00 to $76.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd.

Insider Transactions at Regency Centers

In related news, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the transaction, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at $10,250,758.98. This trade represents a 15.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of Regency Centers stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the transaction, the chairman now owns 110,263 shares of the company’s stock, valued at $8,102,125.24. This trade represents a 31.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,000 shares of company stock worth $6,977,500. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regency Centers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC boosted its stake in Regency Centers by 104.1% in the fourth quarter. Sanctuary Advisors LLC now owns 20,038 shares of the company’s stock valued at $1,442,000 after acquiring an additional 10,221 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Regency Centers in the 4th quarter valued at about $1,499,000. Pacer Advisors Inc. raised its position in shares of Regency Centers by 196.1% in the 4th quarter. Pacer Advisors Inc. now owns 36,245 shares of the company’s stock valued at $2,680,000 after acquiring an additional 24,003 shares during the period. Contravisory Investment Management Inc. bought a new position in Regency Centers during the 4th quarter worth approximately $567,000. Finally, JPMorgan Chase & Co. grew its holdings in Regency Centers by 4.1% during 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 during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Regency Centers Stock Performance

NASDAQ REG opened at $72.38 on Tuesday. The business’s 50-day simple moving average is $71.61 and its 200-day simple moving average is $72.74. The firm has a market capitalization of $13.14 billion, a P/E ratio of 34.14, a P/E/G ratio of 3.75 and a beta of 1.02. Regency Centers has a 1-year low of $58.19 and a 1-year high of $78.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. The company had revenue of $370.35 million for the quarter, compared to analyst estimates of $364.64 million. During the same quarter last year, the firm posted $1.08 earnings per share. Equities analysts predict that Regency Centers will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be given a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Wednesday, June 11th. Regency Centers’s dividend payout ratio (DPR) is currently 133.02%.

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.