Regency Centers (NASDAQ:REG) Reaches New 52-Week High Following Analyst Upgrade

Shares of Regency Centers Co. (NASDAQ:REG) hit a new 52-week high during trading on Wednesday after BTIG Research raised their price target on the stock from $72.00 to $79.00. BTIG Research currently has a buy rating on the stock. Regency Centers traded as high as $75.92 and last traded at $75.75, with a volume of 22766 shares changing hands. The stock had previously closed at $75.00.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their target price on Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. KeyCorp initiated coverage on Regency Centers in a report on Friday, October 25th. They set an “overweight” rating and a $80.00 price target on the stock. Deutsche Bank Aktiengesellschaft downgraded Regency Centers from a “buy” rating to a “hold” rating and upped their price objective for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. Finally, Evercore ISI upgraded Regency Centers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $77.08.

Hedge Funds Weigh In On Regency Centers

Several large investors have recently modified their holdings of the business. Quest Partners LLC grew its position in shares of Regency Centers by 25,250.0% in the second quarter. Quest Partners LLC now owns 507 shares of the company’s stock valued at $32,000 after purchasing an additional 505 shares in the last quarter. Family Firm Inc. bought a new position in Regency Centers in the 2nd quarter worth about $44,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Regency Centers by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the company’s stock valued at $58,000 after buying an additional 600 shares in the last quarter. Blue Trust Inc. increased its position in shares of Regency Centers by 582.1% during the second quarter. Blue Trust Inc. now owns 839 shares of the company’s stock valued at $51,000 after buying an additional 716 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Regency Centers during the second quarter valued at about $60,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Stock Performance

The business’s fifty day moving average price is $72.42 and its 200-day moving average price is $68.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $13.78 billion, a PE ratio of 35.64, a P/E/G ratio of 4.08 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last posted its earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.50). The firm 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 prior year, the company earned $1.02 earnings per share. As a group, equities research analysts expect that Regency Centers Co. will post 4.28 EPS for the current year.

Regency Centers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be paid a dividend of $0.705 per share. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.82 annualized dividend and a yield of 3.71%. Regency Centers’s dividend payout ratio (DPR) is currently 132.39%.

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.