Regency Centers (NASDAQ:REG) Shares Up 0.3% - Still a Buy?

Regency Centers Co. (NASDAQ:REG - Get Free Report)'s share price rose 0.3% during mid-day trading on Tuesday . The stock traded as high as $72.77 and last traded at $72.63. Approximately 153,611 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,005,038 shares. The stock had previously closed at $72.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a report on Wednesday. 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. Finally, Evercore ISI cut their price objective on Regency Centers from $78.00 to $77.00 and set an "in-line" rating on the stock in a research note on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.00.

Regency Centers Stock Up 0.3 %

The firm has a market capitalization of $13.16 billion, a P/E ratio of 34.25, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. 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 fifty day moving average of $73.08 and a 200 day moving average of $72.99.

Remove Ads

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.09 earnings per share 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, research analysts anticipate that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Wednesday, March 12th. Regency Centers's dividend payout ratio is currently 133.02%.

Insider Buying and Selling

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total value of $3,674,000.00. Following the sale, the chairman now directly owns 110,263 shares in the company, valued at $8,102,125.24. This represents a 31.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 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. In the last ninety days, insiders sold 95,000 shares of company stock valued at $6,977,500. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently added to or reduced their stakes in REG. Heck Capital Advisors LLC purchased a new position in shares of Regency Centers during the 4th quarter valued at about $26,000. National Pension Service purchased a new position in shares of Regency Centers during the fourth quarter worth approximately $27,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Regency Centers by 48,700.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock worth $36,000 after acquiring an additional 487 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Regency Centers in the 4th quarter valued at $39,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Regency Centers during the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

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.