Brokerages Set Regency Centers Co. (NASDAQ:REG) Target Price at $78.08

Shares of Regency Centers Co. (NASDAQ:REG) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $78.08.

A number of brokerages have weighed in on REG. Wells Fargo & Company dropped their price target on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Scotiabank dropped their target price on shares of Regency Centers from $80.00 to $76.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd.

Insider Buying and Selling

In related news, CEO Lisa Palmer sold 25,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were 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 owns 139,923 shares in the company, valued at approximately $10,250,758.98. The trade was a 15.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael J. Mas sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the sale, the chief financial officer now owns 54,020 shares in the company, valued at approximately $3,975,872. This represents 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 valued at $6,977,500 in the last three months. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wayfinding Financial LLC purchased a new position in Regency Centers in the first quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in shares of Regency Centers in the 4th quarter valued at $26,000. National Pension Service purchased a new position in shares of Regency Centers in the 4th quarter valued at $27,000. TD Waterhouse Canada Inc. raised its stake in Regency Centers by 48,700.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company’s stock worth $36,000 after acquiring an additional 487 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in Regency Centers in the first quarter valued at $38,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Price Performance

Shares of REG stock opened at $71.86 on Tuesday. The firm’s 50-day moving average is $71.69 and its two-hundred day moving average is $72.73. Regency Centers has a 12 month low of $58.19 and a 12 month high of $78.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The company has a market capitalization of $13.04 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 3.75 and a beta of 1.02.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.14 by $0.01. The firm had revenue of $370.35 million for the quarter, compared to analyst estimates of $364.64 million. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. During the same quarter in the previous year, the company earned $1.08 EPS. Analysts predict that Regency Centers will post 4.54 earnings per share for the current year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be paid a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, June 11th. Regency Centers’s payout ratio is currently 133.02%.

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.