Regency Centers Corporation (NASDAQ:REG) Receives Consensus Rating of “Hold” from Analysts

Regency Centers Corporation (NASDAQ:REG) has been assigned a consensus rating of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $82.0714.

REG has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a report on Friday, May 29th. Citigroup upped their target price on shares of Regency Centers from $76.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. UBS Group upped their target price on shares of Regency Centers from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Finally, Wells Fargo & Company upped their target price on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th.

Insider Transactions at Regency Centers

In other news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total value of $626,708.62. Following the sale, the insider directly owned 33,069 shares of the company’s stock, valued at approximately $2,614,435.14. This represents a 19.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $78.40, for a total transaction of $21,529,816.00. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regency Centers

A number of institutional investors and hedge funds have recently modified their holdings of REG. Norges Bank bought a new stake in shares of Regency Centers in the 4th quarter valued at about $1,183,667,000. Principal Financial Group Inc. grew its stake in Regency Centers by 10.3% in the 1st quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company’s stock valued at $756,967,000 after buying an additional 931,272 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Regency Centers in the 4th quarter valued at about $56,480,000. Goldman Sachs Group Inc. grew its stake in Regency Centers by 75.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company’s stock valued at $124,680,000 after buying an additional 775,609 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Regency Centers by 364.9% in the 4th quarter. AQR Capital Management LLC now owns 842,037 shares of the company’s stock valued at $58,126,000 after buying an additional 660,896 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Regency Centers Trading Up 2.6%

Shares of NASDAQ:REG opened at $79.55 on Wednesday. The company’s 50-day moving average price is $78.13 and its two-hundred day moving average price is $74.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. Regency Centers has a one year low of $66.86 and a one year high of $81.66. The stock has a market capitalization of $14.57 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 3.29 and a beta of 0.81.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be issued a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. Regency Centers’s dividend payout ratio is presently 104.14%.

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.