Regency Centers (REG) Given Hold Rating at Boenning Scattergood

Regency Centers (NYSE:REG)‘s stock had its “hold” rating restated by equities research analysts at Boenning Scattergood in a research report issued on Monday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Regency Centers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Robert W. Baird reissued a “buy” rating on shares of Regency Centers in a research note on Friday, November 3rd. BTIG Research raised shares of Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Monday, January 29th. BMO Capital Markets set a $68.00 price objective on shares of Regency Centers and gave the stock a “hold” rating in a research note on Thursday, January 11th. Finally, TheStreet cut shares of Regency Centers from a “b-” rating to a “c” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $71.29.

Regency Centers (REG) traded down $0.43 during mid-day trading on Monday, hitting $56.27. 564,915 shares of the stock were exchanged, compared to its average volume of 1,081,349. Regency Centers has a one year low of $54.87 and a one year high of $72.05. The company has a market cap of $9,645.26, a PE ratio of 64.68, a PEG ratio of 2.02 and a beta of 0.43. The company has a quick ratio of 0.63, a current ratio of 0.94 and a debt-to-equity ratio of 0.53.

Regency Centers (NYSE:REG) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.42). Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. The business had revenue of $257.95 million during the quarter, compared to the consensus estimate of $257.60 million. During the same period in the previous year, the business posted $0.86 EPS. research analysts forecast that Regency Centers will post 3.51 EPS for the current year.

Regency Centers declared that its board has approved a stock buyback plan on Thursday, February 8th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other Regency Centers news, VP James D. Thompson sold 14,983 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $68.45, for a total transaction of $1,025,586.35. Following the completion of the transaction, the vice president now owns 48,976 shares in the company, valued at $3,352,407.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Chaim Katzman sold 17,600 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $64.06, for a total transaction of $1,127,456.00. The disclosure for this sale can be found here. Insiders have sold 598,762 shares of company stock valued at $38,701,922 in the last quarter. 12.66% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Regency Centers by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,156,883 shares of the real estate investment trust’s stock worth $319,928,000 after acquiring an additional 193,020 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Regency Centers by 7.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,586,197 shares of the real estate investment trust’s stock valued at $98,408,000 after purchasing an additional 107,561 shares during the period. Advisors Asset Management Inc. increased its position in Regency Centers by 3,080.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,505 shares of the real estate investment trust’s stock valued at $466,000 after purchasing an additional 7,269 shares during the period. Honeywell International Inc. increased its position in Regency Centers by 27.8% during the 3rd quarter. Honeywell International Inc. now owns 56,679 shares of the real estate investment trust’s stock valued at $3,516,000 after purchasing an additional 12,312 shares during the period. Finally, Swiss National Bank increased its position in Regency Centers by 1.2% during the 3rd quarter. Swiss National Bank now owns 651,279 shares of the real estate investment trust’s stock valued at $40,405,000 after purchasing an additional 7,700 shares during the period. Institutional investors and hedge funds own 92.24% of the company’s stock.

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About Regency Centers

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.

Analyst Recommendations for Regency Centers (NYSE:REG)

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