Regency Centers (NASDAQ:REG) Raised to Strong-Buy at KeyCorp

KeyCorp upgraded shares of Regency Centers (NASDAQ:REG - Free Report) to a strong-buy rating in a research report released on Thursday, Zacks.com reports.

REG has been the subject of several other reports. Wells Fargo & Company increased their target price 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. Scotiabank increased their target price on shares of Regency Centers from $65.00 to $75.00 and gave the company a "sector perform" rating in a research note on Monday, August 26th. Compass Point increased their target price on shares of Regency Centers from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Evercore ISI lowered shares of Regency Centers from an "outperform" rating to an "inline" rating and increased their target price for the company from $72.00 to $75.00 in a research note on Monday, September 16th. Finally, Raymond James increased their target price on shares of Regency Centers from $67.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $76.55.

Regency Centers Stock Down 1.4 %

Shares of Regency Centers stock traded down $0.99 during trading on Thursday, reaching $71.01. The company had a trading volume of 512,403 shares, compared to its average volume of 1,084,822. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 4.48 and a beta of 1.21. The firm's fifty day moving average is $72.03 and its 200-day moving average is $65.72. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. Regency Centers has a fifty-two week low of $56.51 and a fifty-two week high of $75.26.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The company had revenue of $357.25 million during the quarter, compared to analyst estimates of $361.56 million. During the same quarter last year, the company posted $1.03 EPS. On average, analysts anticipate that Regency Centers will post 4.24 EPS for the current year.

Regency Centers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.67 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.77%. Regency Centers's payout ratio is 130.73%.

Insiders Place Their Bets

In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the completion of the sale, the vice president now owns 13,010 shares in the company, valued at $905,105.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the chairman now owns 307,199 shares in the company, valued at $21,503,930. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael R. Herman sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the transaction, the vice president now owns 13,010 shares in the company, valued at approximately $905,105.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. First Trust Direct Indexing L.P. increased its stake in shares of Regency Centers by 8.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,847 shares of the company's stock worth $278,000 after purchasing an additional 288 shares during the last quarter. 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 during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Regency Centers by 0.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 80,078 shares of the company's stock worth $5,674,000 after purchasing an additional 644 shares during the last quarter. Forsta AP Fonden grew its stake in Regency Centers by 6.7% in the 3rd quarter. Forsta AP Fonden now owns 53,800 shares of the company's stock valued at $3,886,000 after buying an additional 3,400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Regency Centers by 36.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,570 shares of the company's stock valued at $1,898,000 after buying an additional 7,044 shares during the last quarter. Institutional investors and hedge funds 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.