Regency Centers Co. (NASDAQ:REG - Get Free Report)'s stock price was up 2.1% on Friday . The stock traded as high as $72.24 and last traded at $71.66. Approximately 635,249 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 1,058,661 shares. The stock had previously closed at $70.21.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Evercore ISI lowered their target price on Regency Centers from $78.00 to $77.00 and set an "in-line" rating for the company in a research note on Tuesday, December 24th. Wells Fargo & Company lowered their price objective on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Finally, Mizuho raised their target price on shares of Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a research 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $78.00.
Check Out Our Latest Stock Analysis on REG
Regency Centers Stock Up 2.2 %
The company has a market capitalization of $13.13 billion, a P/E ratio of 34.11, a P/E/G ratio of 3.75 and a beta of 1.03. The stock has a 50-day moving average price of $72.31 and a 200-day moving average price of $72.67. 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 posted its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share 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%. On average, research analysts predict that Regency Centers Co. will post 4.54 EPS for the current fiscal year.
Regency Centers Dividend Announcement
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 $0.705 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a yield of 3.90%. Regency Centers's payout ratio is currently 133.02%.
Insiders Place Their Bets
In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the transaction, the chairman now 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 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 company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following the transaction, the chief financial officer now directly owns 54,020 shares in the company, valued at $3,975,872. The trade was a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,000 shares of company stock worth $6,977,500. Corporate insiders own 1.00% of the company's stock.
Institutional Investors Weigh In On Regency Centers
A number of institutional investors and hedge funds have recently made changes to their positions in REG. Norges Bank bought a new stake in Regency Centers during the 4th quarter worth approximately $1,262,425,000. Invesco Ltd. grew its holdings in Regency Centers by 121.2% during the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company's stock worth $397,333,000 after buying an additional 2,944,854 shares in the last quarter. Northern Trust Corp raised its position in Regency Centers by 64.1% in the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company's stock valued at $205,645,000 after buying an additional 1,086,797 shares during the last quarter. Prudential Financial Inc. lifted its stake in Regency Centers by 51.7% during the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company's stock valued at $159,363,000 after acquiring an additional 734,210 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Regency Centers by 137.2% during the 4th quarter. California Public Employees Retirement System now owns 776,521 shares of the company's stock worth $57,408,000 after acquiring an additional 449,110 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.
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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