Regency Centers Co. (NASDAQ:REG) Receives $76.92 Consensus Target Price from Brokerages

Regency Centers Co. (NASDAQ:REG - Get Free Report) has earned a consensus rating of "Buy" from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $76.92.

A number of brokerages have recently commented on REG. Scotiabank increased their price objective on Regency Centers from $65.00 to $75.00 and gave the company a "sector perform" rating in a research report on Monday, August 26th. Raymond James boosted 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. Evercore ISI raised shares of Regency Centers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price 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. Finally, Mizuho boosted their target price on shares of Regency Centers from $67.00 to $73.00 and gave the company an "outperform" rating in a research note on Monday, August 19th.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the sale, the vice president now owns 13,010 shares of the company's stock, valued at approximately $905,105.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Regency Centers

Institutional investors have recently made changes to their positions in the stock. PGGM Investments grew its position in Regency Centers by 2,586.9% in the 2nd quarter. PGGM Investments now owns 1,670,607 shares of the company's stock worth $103,912,000 after purchasing an additional 1,608,431 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Regency Centers by 10.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company's stock worth $547,995,000 after purchasing an additional 873,062 shares in the last quarter. Vanguard Group Inc. grew its position in Regency Centers by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company's stock worth $1,749,520,000 after purchasing an additional 830,572 shares in the last quarter. Russell Investments Group Ltd. grew its position in Regency Centers by 67.0% in the 1st quarter. Russell Investments Group Ltd. now owns 987,147 shares of the company's stock worth $59,768,000 after purchasing an additional 395,901 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Regency Centers by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company's stock valued at $555,009,000 after acquiring an additional 357,091 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

Regency Centers Price Performance

Regency Centers stock traded down $0.52 during mid-day trading on Tuesday, hitting $73.48. 911,843 shares of the company were exchanged, compared to its average volume of 1,094,339. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.93. The business's 50 day simple moving average is $72.33 and its two-hundred day simple moving average is $66.88. The company has a market capitalization of $13.34 billion, a P/E ratio of 34.68, a PEG ratio of 4.60 and a beta of 1.21. Regency Centers has a 12-month low of $56.51 and a 12-month high of $75.26.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.50). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The firm had revenue of $360.27 million during the quarter, compared to analyst estimates of $355.17 million. During the same quarter in the previous year, the business posted $1.02 EPS. Analysts forecast that Regency Centers will post 4.26 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be issued a $0.705 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a yield of 3.84%. This is an increase from Regency Centers's previous quarterly dividend of $0.67. Regency Centers's payout ratio is currently 132.39%.

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.