Regency Centers Corp. (NYSE:REG) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Regency Centers Corp. (NYSE:REG) have earned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the firm. Ten analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $77.60.
REG has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Regency Centers Corp. from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Tuesday, July 5th. Jefferies Group raised their target price on Regency Centers Corp. from $83.00 to $84.00 and gave the company a “hold” rating in a report on Tuesday, August 23rd. Deutsche Bank AG raised their target price on Regency Centers Corp. from $69.00 to $77.00 and gave the company a “hold” rating in a report on Wednesday, August 17th. Argus restated a “hold” rating on shares of Regency Centers Corp. in a report on Saturday, September 3rd. Finally, BTIG Research initiated coverage on Regency Centers Corp. in a report on Thursday, August 25th. They set a “neutral” rating for the company.
Regency Centers Corp. (NYSE:REG) traded down 1.01% during trading on Wednesday, hitting $76.12. 127,592 shares of the stock traded hands. The company has a market cap of $7.55 billion, a P/E ratio of 47.84 and a beta of 0.89. Regency Centers Corp. has a 12 month low of $60.11 and a 12 month high of $85.35. The company’s 50 day moving average price is $80.07 and its 200 day moving average price is $78.29.
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Regency Centers Corp. (NYSE:REG) last released its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Regency Centers Corp. had a return on equity of 10.04% and a net margin of 29.19%. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, equities research analysts anticipate that Regency Centers Corp. will post $3.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, August 15th. Regency Centers Corp.’s dividend payout ratio (DPR) is presently 125.79%.
In other Regency Centers Corp. news, Director Bryce Blair bought 1,251 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were acquired at an average price of $79.79 per share, with a total value of $99,817.29. Following the transaction, the director now owns 4,084 shares of the company’s stock, valued at $325,862.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REG. Macquarie Group Ltd. raised its position in Regency Centers Corp. by 9.7% in the second quarter. Macquarie Group Ltd. now owns 304,206 shares of the real estate investment trust’s stock valued at $25,471,000 after buying an additional 26,882 shares during the period. Mason Street Advisors LLC purchased a new position in Regency Centers Corp. during the second quarter valued at approximately $3,727,000. Schwab Charles Investment Management Inc. raised its position in Regency Centers Corp. by 7.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 647,555 shares of the real estate investment trust’s stock valued at $54,220,000 after buying an additional 46,432 shares during the period. Virtu Financial LLC purchased a new position in Regency Centers Corp. during the second quarter valued at approximately $210,000. Finally, Amalgamated Bank raised its position in Regency Centers Corp. by 26.1% in the second quarter. Amalgamated Bank now owns 14,401 shares of the real estate investment trust’s stock valued at $1,168,000 after buying an additional 2,983 shares during the period. 95.91% of the stock is currently owned by institutional investors.
Regency Centers Corp. Company Profile
Regency Centers Corporation is a real estate investment trust (REIT) and the general partner of the Regency Centers, L.P. (Operating Partnership). The Company’s operating, investing and financing activities are performed through the Operating Partnership, its subsidiaries and through its co-investment partnerships.
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