Regency Centers (NASDAQ:REG) Shares Down 3.4% – Here’s Why

Regency Centers Co. (NASDAQ:REG) fell 3.4% on Thursday . The stock traded as low as $71.00 and last traded at $72.21. 323,148 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,050,579 shares. The stock had previously closed at $74.74.

Wall Street Analysts Forecast Growth

REG has been the topic of several research reports. Evercore ISI lowered their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Mizuho upped their target price on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.00.

Regency Centers Trading Down 4.6 %

The firm has a fifty day moving average of $73.23 and a 200-day moving average of $72.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 3.75 and a beta of 1.03.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. As a group, equities analysts predict that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.705 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $2.82 annualized dividend and a yield of 4.10%. Regency Centers’s payout ratio is 133.02%.

Insider Transactions at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total value of $3,674,000.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael J. Mas sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the completion of the sale, the chief financial officer now directly owns 54,020 shares of the company’s stock, valued at approximately $3,975,872. This represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,000 shares of company stock worth $6,977,500. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of REG. Norges Bank acquired a new stake in shares of Regency Centers during the 4th quarter valued at $1,262,425,000. Invesco Ltd. increased its holdings in shares of Regency Centers by 121.2% in the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock valued at $397,333,000 after purchasing an additional 2,944,854 shares during the period. Northern Trust Corp lifted its position in Regency Centers by 64.1% in the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock worth $205,645,000 after buying an additional 1,086,797 shares in the last quarter. Prudential Financial Inc. boosted its position in Regency Centers by 51.7% during the fourth quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock valued at $159,363,000 after purchasing an additional 734,210 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Regency Centers by 137.2% during the 4th quarter. California Public Employees Retirement System now owns 776,521 shares of the company’s stock valued at $57,408,000 after purchasing an additional 449,110 shares in the last quarter. 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.