Regency Centers (NASDAQ:REG) Trading Up 0.7% - Here's Why

Regency Centers Co. (NASDAQ:REG - Get Free Report) shares were up 0.7% on Tuesday . The company traded as high as $72.10 and last traded at $71.96. Approximately 140,980 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 999,415 shares. The stock had previously closed at $71.43.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on REG shares. Mizuho lifted their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. Evercore ISI dropped 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 report on Tuesday, December 24th. BTIG Research lifted their target price on shares of Regency Centers from $72.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their price target on shares of Regency Centers from $81.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Three investment 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.08.

Regency Centers Price Performance

The company has a fifty day moving average of $72.92 and a 200-day moving average of $73.01. The stock has a market cap of $12.97 billion, a PE ratio of 33.73, a P/E/G ratio of 3.75 and a beta of 1.23. 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 EPS 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%. Sell-side analysts expect that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers's dividend payout ratio is currently 133.02%.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total value 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 ownership of the stock. The sale 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 firm's stock in a transaction that occurred on 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 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. In the last quarter, insiders sold 95,000 shares of company stock worth $6,977,500. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regency Centers

A number of institutional investors and hedge funds have recently bought and sold shares of REG. Quest Partners LLC lifted its holdings in shares of Regency Centers by 84.8% in the 3rd quarter. Quest Partners LLC now owns 937 shares of the company's stock valued at $68,000 after purchasing an additional 430 shares during the last quarter. LMR Partners LLP acquired a new position in Regency Centers in the third quarter valued at $259,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Regency Centers during the third quarter worth about $355,000. PNC Financial Services Group Inc. grew its holdings in shares of Regency Centers by 21.3% during the third quarter. PNC Financial Services Group Inc. now owns 18,121 shares of the company's stock worth $1,309,000 after buying an additional 3,188 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Regency Centers by 405.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 77,952 shares of the company's stock valued at $5,630,000 after acquiring an additional 62,534 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.