Regency Centers Corporation (REG) Upgraded by Royal Bank Of Canada to “Top Pick”
Regency Centers Corporation (NYSE:REG) was upgraded by analysts at Royal Bank Of Canada from an “outperform” rating to a “top pick” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $75.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $72.00. Royal Bank Of Canada’s price objective suggests a potential upside of 14.47% from the stock’s previous close.
Several other brokerages have also recently commented on REG. BidaskClub upgraded shares of Regency Centers Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Citigroup Inc. set a $70.00 price objective on shares of Regency Centers Corporation and gave the company a “hold” rating in a research report on Monday. Barclays PLC restated an “equal weight” rating and issued a $73.00 price objective (up previously from $72.00) on shares of Regency Centers Corporation in a research report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating and issued a $74.00 price objective on shares of Regency Centers Corporation in a research report on Monday, July 17th. Finally, TheStreet cut shares of Regency Centers Corporation from a “b” rating to a “c” rating in a research report on Tuesday, May 9th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regency Centers Corporation presently has an average rating of “Buy” and a consensus target price of $74.91.
Shares of Regency Centers Corporation (REG) traded up 0.66% during trading on Thursday, hitting $65.95. The company had a trading volume of 246,058 shares. Regency Centers Corporation has a 12-month low of $58.63 and a 12-month high of $82.44. The firm has a 50 day moving average of $64.57 and a 200 day moving average of $65.08. The stock has a market cap of $11.19 billion, a PE ratio of 109.55 and a beta of 0.56.
Regency Centers Corporation (NYSE:REG) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 EPS for the quarter, beating the consensus estimate of $0.90 by $0.03. The company had revenue of $240.42 million during the quarter, compared to analysts’ expectations of $248.50 million. Regency Centers Corporation had a net margin of 13.19% and a return on equity of 2.20%. During the same quarter in the previous year, the company posted $0.81 EPS. On average, analysts forecast that Regency Centers Corporation will post $1.13 earnings per share for the current fiscal year.
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In other Regency Centers Corporation news, insider H Craig Ramey sold 1,048 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $62.17, for a total transaction of $65,154.16. Following the completion of the transaction, the insider now owns 15,769 shares in the company, valued at approximately $980,358.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.66% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in REG. IHT Wealth Management LLC purchased a new position in Regency Centers Corporation during the second quarter worth about $124,000. Victory Capital Management Inc. purchased a new position in Regency Centers Corporation during the first quarter worth about $176,000. Global X Management Co. LLC purchased a new position in Regency Centers Corporation during the second quarter worth about $179,000. Advisor Group Inc. boosted its position in Regency Centers Corporation by 15.6% in the second quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 404 shares during the period. Finally, Baldwin Brothers Inc. MA purchased a new position in Regency Centers Corporation during the first quarter worth about $189,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.
About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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