Regency Centers (NASDAQ:REG) Trading Down 0.7% - Here's What Happened

Regency Centers Co. (NASDAQ:REG - Get Free Report) shares fell 0.7% during mid-day trading on Wednesday . The company traded as low as $63.44 and last traded at $65.03. Approximately 482,803 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 1,070,545 shares. The stock had previously closed at $65.48.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on REG. Evercore ISI reduced their price objective on shares of Regency Centers from $78.00 to $77.00 and set an "in-line" rating for the company in a research report on Tuesday, December 24th. Mizuho upped their target price on Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their target price on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Three investment 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 stock. According to MarketBeat, Regency Centers currently has an average rating of "Moderate Buy" and a consensus target price of $78.00.

Regency Centers Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $72.66 and a two-hundred day simple moving average of $72.68. The company has a market cap of $12.60 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03.

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

Regency Centers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.705 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a yield of 4.06%. Regency Centers's dividend payout ratio (DPR) is presently 133.02%.

Insider Transactions at Regency Centers

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 transaction of $1,472,000.00. Following the completion of the transaction, the chief financial officer now directly owns 54,020 shares of the company's stock, valued at $3,975,872. This trade represents a 27.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lisa Palmer sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the sale, the chief executive officer now directly owns 139,923 shares in the company, valued at approximately $10,250,758.98. The trade was a 15.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,000 shares of company stock valued at $6,977,500 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regency Centers

A number of institutional investors have recently made changes to their positions in REG. Sanctuary Advisors LLC increased its position in Regency Centers by 104.1% during the 4th quarter. Sanctuary Advisors LLC now owns 20,038 shares of the company's stock worth $1,442,000 after purchasing an additional 10,221 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Regency Centers in the 4th quarter worth approximately $1,499,000. Pacer Advisors Inc. raised its holdings in Regency Centers by 196.1% in the 4th quarter. Pacer Advisors Inc. now owns 36,245 shares of the company's stock valued at $2,680,000 after acquiring an additional 24,003 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Regency Centers by 47.3% during the 3rd quarter. HighTower Advisors LLC now owns 29,342 shares of the company's stock worth $2,121,000 after purchasing an additional 9,424 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Regency Centers during the fourth quarter worth $567,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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.