Scotiabank Increases Regency Centers (NASDAQ:REG) Price Target to $82.00

Regency Centers (NASDAQ:REG) had its price objective increased by Scotiabank from $76.00 to $82.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 10.17% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Weiss Ratings upgraded Regency Centers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. UBS Group set a $76.00 price target on Regency Centers in a research note on Wednesday, January 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $76.00 price objective (down from $81.00) on shares of Regency Centers in a report on Thursday, December 18th. Morgan Stanley reiterated an “overweight” rating and set a $85.00 price objective on shares of Regency Centers in a research report on Monday, January 5th. Finally, Robert W. Baird set a $84.00 target price on shares of Regency Centers in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.14.

Regency Centers Trading Down 0.2%

Shares of REG stock opened at $74.43 on Tuesday. The firm has a 50 day moving average price of $75.35 and a two-hundred day moving average price of $72.07. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $13.61 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. Regency Centers has a 12-month low of $63.44 and a 12-month high of $79.89.

Insider Transactions at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 38,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $77.21, for a total transaction of $2,933,980.00. Following the sale, the chairman owned 157,892 shares of the company’s stock, valued at $12,190,841.32. This represents a 19.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 177,490 shares of company stock worth $13,839,932 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REG. Norinchukin Bank The grew its holdings in shares of Regency Centers by 0.8% during the 3rd quarter. Norinchukin Bank The now owns 17,730 shares of the company’s stock worth $1,293,000 after purchasing an additional 147 shares in the last quarter. Park Avenue Securities LLC raised its stake in Regency Centers by 5.2% in the third quarter. Park Avenue Securities LLC now owns 3,040 shares of the company’s stock valued at $222,000 after purchasing an additional 149 shares in the last quarter. Telos Capital Management Inc. raised its stake in Regency Centers by 2.9% in the fourth quarter. Telos Capital Management Inc. now owns 5,378 shares of the company’s stock valued at $371,000 after purchasing an additional 153 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in Regency Centers by 63.1% during the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock worth $30,000 after purchasing an additional 157 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Regency Centers by 13.9% during the third quarter. Jones Financial Companies Lllp now owns 1,293 shares of the company’s stock worth $92,000 after purchasing an additional 158 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

About Regency Centers

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.