Regency Centers (NASDAQ:REG) Shares Down 1.3% - Here's Why

Regency Centers Co. (NASDAQ:REG - Get Free Report) shares were down 1.3% during mid-day trading on Friday . The stock traded as low as $70.05 and last traded at $71.12. Approximately 646,977 shares changed hands during trading, a decline of 39% from the average daily volume of 1,054,101 shares. The stock had previously closed at $72.09.

Analysts Set New Price Targets

A number of research analysts recently weighed in on REG shares. Mizuho raised 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. Wells Fargo & Company dropped their price objective on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, Evercore ISI reduced their target price on shares of Regency Centers from $78.00 to $77.00 and set an "in-line" rating on the stock in a report on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.00.

Regency Centers Stock Down 3.1 %

The firm has a market cap of $11.89 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03. The company has a 50-day simple moving average of $73.12 and a 200-day simple moving average of $72.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95.

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Regency Centers (NASDAQ:REG - Get Free Report) last released its earnings results 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%. Analysts expect that Regency Centers Co. will post 4.54 earnings per share 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 paid 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 4.31%. Regency Centers's dividend payout ratio is currently 133.02%.

Insider Activity

In other news, CFO Michael J. Mas sold 20,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lisa Palmer sold 25,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 139,923 shares of the company's stock, valued at approximately $10,250,758.98. This trade represents a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,000 shares of company stock valued at $6,977,500. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Regency Centers

Several institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC bought a new stake in Regency Centers during the 4th quarter valued at $26,000. National Pension Service purchased a new stake in shares of Regency Centers during the 4th quarter worth $27,000. TD Waterhouse Canada Inc. boosted its position in Regency Centers by 48,700.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock valued at $36,000 after purchasing an additional 487 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in Regency Centers in the fourth quarter valued at about $39,000. Finally, Ameriflex Group Inc. bought a new position in Regency Centers in the fourth quarter worth about $53,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.