Regency Centers Co. (NASDAQ:REG - Get Free Report)'s stock price shot up 1.1% on Wednesday . The company traded as high as $74.19 and last traded at $74.38. 207,023 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,050,568 shares. The stock had previously closed at $73.57.
Analyst Ratings Changes
Several equities research analysts recently commented on REG shares. Evercore ISI dropped their price objective on shares of 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. Wells Fargo & Company dropped their target price on Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Finally, Mizuho raised their price target on Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. Three investment 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $78.00.
Read Our Latest Analysis on REG
Regency Centers Price Performance
The stock has a market capitalization of $13.09 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. The business's 50 day moving average price is $73.29 and its 200 day moving average price is $72.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95.
Regency Centers (NASDAQ:REG - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. Sell-side analysts forecast that Regency Centers Co. will post 4.54 EPS for the current year.
Regency Centers Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.705 per share. 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 3.91%. Regency Centers's dividend payout ratio is currently 133.02%.
Insiders Place Their Bets
In related news, CEO Lisa Palmer sold 25,000 shares of Regency Centers 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 transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the transaction, the chairman now directly owns 110,263 shares of the company's stock, valued at $8,102,125.24. This represents a 31.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,000 shares of company stock worth $6,977,500. Company insiders own 1.00% of the company's stock.
Institutional Investors Weigh In On Regency Centers
A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Regency Centers during the 4th quarter valued at approximately $1,262,425,000. Invesco Ltd. grew its position in Regency Centers by 121.2% in the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company's stock worth $397,333,000 after acquiring an additional 2,944,854 shares in the last quarter. Northern Trust Corp increased its stake in Regency Centers by 64.1% during the fourth quarter. Northern Trust Corp now owns 2,781,614 shares of the company's stock worth $205,645,000 after acquiring an additional 1,086,797 shares during the last quarter. Prudential Financial Inc. raised its position in Regency Centers by 51.7% during the fourth quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company's stock valued at $159,363,000 after purchasing an additional 734,210 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Regency Centers by 137.2% in the 4th quarter. California Public Employees Retirement System now owns 776,521 shares of the company's stock valued at $57,408,000 after purchasing an additional 449,110 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.
About Regency Centers
(
Get Free Report)
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.
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