Regency Centers Corporation (NYSE:REG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Shares of Regency have underperformed its industry, year to date. However, the stock has seen the Zacks Consensus Estimate for the current-year funds from operations (FFO) per share being revised upward in a month’s time. It did not report any significant damage from the recent hurricanes. The company’s focus on building a premium portfolio of grocery-anchored shopping centers, which are usually necessity-driven, along with the presence of leading grocers in its tenant roaster, augurs well. Also, Regency’s merger with Equity One elevated the company’s position in the retail real estate market and offered it a host of opportunities to drive growth. Yet, the recent efforts of online retailers to go deeper into the grocery business have emerged as a concern for this REIT. Rate hike add to its woes.”

REG has been the subject of several other reports. Jefferies Group LLC upgraded shares of Regency Centers Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $72.00 to $74.00 in a research report on Friday, June 16th. Citigroup Inc. restated a “neutral” rating and set a $67.00 price target (down from $70.00) on shares of Regency Centers Corporation in a research report on Monday, July 10th. Royal Bank Of Canada restated a “buy” rating and set a $70.00 price target on shares of Regency Centers Corporation in a research report on Monday, June 19th. Robert W. Baird restated a “buy” rating and set a $72.00 price target on shares of Regency Centers Corporation in a research report on Thursday, August 24th. Finally, Boenning Scattergood lowered shares of Regency Centers Corporation from a “neutral” rating to an “under perform” rating and set a $62.50 price target for the company. in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $71.54.

Shares of Regency Centers Corporation (NYSE:REG) traded up 1.18% on Monday, hitting $62.85. The stock had a trading volume of 411,786 shares. The company has a market capitalization of $10.67 billion, a PE ratio of 104.40 and a beta of 0.56. The firm has a 50-day moving average of $65.17 and a 200 day moving average of $64.16. Regency Centers Corporation has a 1-year low of $58.63 and a 1-year high of $79.96.

Regency Centers Corporation (NYSE:REG) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. Regency Centers Corporation had a net margin of 13.19% and a return on equity of 2.20%. The business had revenue of $240.42 million during the quarter, compared to analyst estimates of $248.50 million. During the same period in the prior year, the business posted $0.81 earnings per share. On average, equities analysts anticipate that Regency Centers Corporation will post $0.85 earnings per share for the current fiscal year.

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In other news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $64.30, for a total transaction of $67,885,239.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Lou Fiala sold 7,775 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $65.74, for a total transaction of $511,128.50. Following the transaction, the director now directly owns 17,145 shares of the company’s stock, valued at $1,127,112.30. The disclosure for this sale can be found here. Corporate insiders own 12.66% of the company’s stock.

Several large investors have recently modified their holdings of REG. IHT Wealth Management LLC bought a new position in shares of Regency Centers Corporation during the second quarter valued at about $124,000. Perigon Wealth Management LLC raised its stake in shares of Regency Centers Corporation by 93.2% during the second quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 1,025 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Regency Centers Corporation during the first quarter valued at about $176,000. Global X Management Co. LLC bought a new position in shares of Regency Centers Corporation during the second quarter valued at about $179,000. Finally, Advisor Group Inc. raised its stake in shares of Regency Centers Corporation by 15.6% during the second quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 404 shares during the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Corporation Company Profile

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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Analyst Recommendations for Regency Centers Corporation (NYSE:REG)

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