Regency Centers (NASDAQ:REG) Hits New 52-Week High - Here's What Happened

Regency Centers Co. (NASDAQ:REG - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $76.56 and last traded at $76.56, with a volume of 29472 shares changing hands. The stock had previously closed at $75.56.

Wall Street Analysts Forecast Growth

REG has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on Regency Centers from $81.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. BTIG Research boosted their price objective on Regency Centers from $72.00 to $79.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price target on shares of Regency Centers from $77.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Mizuho boosted their price target on shares of Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. Finally, Evercore ISI decreased their target price on Regency Centers from $78.00 to $77.00 and set an "in-line" rating for the company in a research note on Tuesday, December 24th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $78.08.

Regency Centers Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The stock has a market capitalization of $14.10 billion, a P/E ratio of 36.67, a price-to-earnings-growth ratio of 3.75 and a beta of 1.21. The company has a 50 day simple moving average of $72.75 and a 200-day simple moving average of $72.80.

Regency Centers (NASDAQ:REG - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. On average, equities analysts forecast that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Wednesday, March 12th. Regency Centers's dividend payout ratio (DPR) is presently 133.02%.

Insider Buying and Selling

In other news, CFO Michael J. Mas sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the transaction, the chief financial officer now directly owns 54,020 shares in the company, valued at approximately $3,975,872. This trade represents a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the sale, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. This trade represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regency Centers

Several large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC raised its holdings in shares of Regency Centers by 104.1% in the 4th 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 in the last quarter. Pacer Advisors Inc. raised its stake in Regency Centers by 196.1% in the fourth quarter. Pacer Advisors Inc. now owns 36,245 shares of the company's stock valued at $2,680,000 after purchasing an additional 24,003 shares in the last quarter. Trustmark National Bank Trust Department bought a new stake in Regency Centers during the third quarter valued at approximately $719,000. HighTower Advisors LLC grew its stake in Regency Centers by 47.3% in the 3rd quarter. HighTower Advisors LLC now owns 29,342 shares of the company's stock worth $2,121,000 after buying an additional 9,424 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Regency Centers by 9.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company's stock worth $7,615,000 after buying an additional 8,959 shares during 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.