Regency Centers (NASDAQ:REG) Trading Down 3.4% - Here's What Happened

Regency Centers Co. (NASDAQ:REG - Get Free Report) shares traded down 3.4% on Thursday . The company traded as low as $71.00 and last traded at $72.21. 323,148 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,050,579 shares. The stock had previously closed at $74.74.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on REG. Mizuho increased their price target on Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. Evercore ISI lowered their target price on Regency Centers from $78.00 to $77.00 and set an "in-line" rating on the stock in a report on Tuesday, December 24th. Finally, Wells Fargo & Company cut their price target on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.00.

Regency Centers Trading Down 1.8 %

The company has a market cap of $12.26 billion, a PE ratio of 31.86, a P/E/G ratio of 3.75 and a beta of 1.03. The business's 50-day simple moving average is $73.23 and its 200-day simple moving average is $72.90. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

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Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 4.18%. Regency Centers's payout ratio is presently 133.02%.

Insider Activity at Regency Centers

In related news, CEO Lisa Palmer sold 25,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the transaction, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. This represents a 15.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael J. Mas sold 20,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 54,020 shares of the company's stock, valued at approximately $3,975,872. This trade represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock worth $6,977,500 in the last 90 days. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regency Centers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its position in Regency Centers by 104.1% in the fourth 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 during the period. Teacher Retirement System of Texas bought a new position in shares of Regency Centers during the 4th quarter worth about $1,499,000. Pacer Advisors Inc. boosted its position in shares of Regency Centers by 196.1% during 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 in the last quarter. HighTower Advisors LLC increased its stake in Regency Centers by 47.3% in the third quarter. HighTower Advisors LLC now owns 29,342 shares of the company's stock valued at $2,121,000 after acquiring an additional 9,424 shares during the period. Finally, Royal London Asset Management Ltd. raised its position in Regency Centers by 9.3% in the third quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company's stock worth $7,615,000 after purchasing an additional 8,959 shares in the last quarter. 96.07% of the stock is currently owned by 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.