Regency Centers (NASDAQ:REG) Stock Price Up 1.3% - Time to Buy?

Regency Centers Co. (NASDAQ:REG - Get Free Report) shares shot up 1.3% on Monday . The company traded as high as $72.52 and last traded at $72.46. 214,922 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,001,942 shares. The stock had previously closed at $71.50.

Analysts Set New Price Targets

Several brokerages have recently commented on REG. Mizuho increased their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their price target on Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Wednesday. 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 report on Tuesday, December 24th. Finally, BTIG Research lifted their target price on Regency Centers from $72.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Regency Centers presently has a consensus rating of "Moderate Buy" and an average price target of $78.00.

Regency Centers Price Performance

The firm has a market capitalization of $13.14 billion, a P/E ratio of 34.18, a PEG ratio of 3.75 and a beta of 1.23. The business's 50-day simple moving average is $73.07 and its 200 day simple moving average is $72.99. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66.

Remove Ads

Regency Centers (NASDAQ:REG - Get Free Report) last released its earnings results 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 forecast that Regency Centers Co. will post 4.54 earnings per share for the current year.

Regency Centers Dividend Announcement

The company also recently disclosed 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 dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers's payout ratio is 133.02%.

Insider Activity

In other Regency Centers news, CFO Michael J. Mas sold 20,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the sale, the chief financial officer now directly owns 54,020 shares in the company, valued at $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 available at this link. Also, CEO Lisa Palmer sold 25,000 shares of the firm's stock in a transaction that occurred 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 directly owns 139,923 shares of the company's stock, valued at $10,250,758.98. This represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,000 shares of company stock valued at $6,977,500. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REG. Quest Partners LLC raised its position in shares of Regency Centers by 84.8% in the 3rd quarter. Quest Partners LLC now owns 937 shares of the company's stock worth $68,000 after purchasing an additional 430 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Regency Centers by 21.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 18,121 shares of the company's stock worth $1,309,000 after acquiring an additional 3,188 shares during the last quarter. Cerity Partners LLC lifted its position in Regency Centers by 46.2% in the 3rd quarter. Cerity Partners LLC now owns 9,722 shares of the company's stock valued at $702,000 after acquiring an additional 3,074 shares in the last quarter. Swedbank AB boosted its stake in Regency Centers by 7.3% during the 3rd quarter. Swedbank AB now owns 191,283 shares of the company's stock valued at $13,816,000 after purchasing an additional 13,043 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Regency Centers in the 3rd quarter worth $96,000. 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.