Wells Fargo & Company Cuts Regency Centers (NASDAQ:REG) Price Target to $79.00

Regency Centers (NASDAQ:REG - Free Report) had its target price lowered by Wells Fargo & Company from $80.00 to $79.00 in a research report sent to investors on Wednesday morning, Marketbeat.com reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the company. Evercore ISI decreased their target price 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. 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, Mizuho increased 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 equities research 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 company. According to data from MarketBeat.com, Regency Centers has a consensus rating of "Moderate Buy" and an average price target of $78.00.

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Regency Centers Price Performance

NASDAQ:REG traded up $0.48 during trading hours on Wednesday, reaching $72.87. 915,678 shares of the company were exchanged, compared to its average volume of 1,047,763. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The firm has a market cap of $13.22 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. Regency Centers has a twelve month low of $56.51 and a twelve month high of $78.18. The stock's 50-day moving average is $73.12 and its 200-day moving average is $72.96.

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, topping 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%. On average, sell-side analysts anticipate that Regency Centers will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.705 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 annualized dividend and a yield of 3.87%. Regency Centers's payout ratio is 133.02%.

Insider Transactions at Regency Centers

In other news, 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 transaction of $1,831,500.00. Following the completion of the transaction, the chief executive officer now directly owns 139,923 shares in the company, valued at approximately $10,250,758.98. This represents a 15.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael J. Mas sold 20,000 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 54,020 shares of the company's stock, 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. Insiders sold 95,000 shares of company stock worth $6,977,500 in the last 90 days. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Regency Centers

Several large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC increased its holdings in Regency Centers by 104.1% in the 4th quarter. Sanctuary Advisors LLC now owns 20,038 shares of the company's stock valued at $1,442,000 after purchasing an additional 10,221 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Regency Centers during the fourth quarter worth $1,499,000. Pacer Advisors Inc. grew its stake in shares of Regency Centers by 196.1% in the fourth quarter. Pacer Advisors Inc. now owns 36,245 shares of the company's stock valued at $2,680,000 after buying an additional 24,003 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Regency Centers by 47.3% in the 3rd quarter. HighTower Advisors LLC now owns 29,342 shares of the company's stock valued at $2,121,000 after buying an additional 9,424 shares during the period. Finally, Royal London Asset Management Ltd. lifted its stake in Regency Centers by 9.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company's stock worth $7,615,000 after acquiring an additional 8,959 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.