Regency Centers (NASDAQ:REG) Sets New 12-Month High – Still a Buy?

Shares of Regency Centers Corporation (NASDAQ:REG) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $78.21 and last traded at $77.6030, with a volume of 249831 shares. The stock had previously closed at $76.85.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on REG shares. Barclays raised shares of Regency Centers from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $83.00 to $82.00 in a research note on Tuesday, November 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $76.00 target price (down from $81.00) on shares of Regency Centers in a research report on Thursday, December 18th. Scotiabank cut their price target on Regency Centers from $78.00 to $76.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 14th. Royal Bank Of Canada raised Regency Centers to a “sector perform” rating in a research note on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Regency Centers from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and an average target price of $78.79.

Regency Centers Stock Up 0.9%

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 business has a 50-day simple moving average of $72.14 and a 200-day simple moving average of $71.32. The stock has a market cap of $14.25 billion, a P/E ratio of 27.83, a PEG ratio of 3.32 and a beta of 0.94.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be issued a $0.755 dividend. This represents a $3.02 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, March 11th. Regency Centers’s dividend payout ratio (DPR) is 107.86%.

Insider Buying and Selling at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $76.30, for a total transaction of $763,000.00. Following the completion of the sale, the chairman owned 272,133 shares in the company, valued at $20,763,747.90. This represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Havemeyer Place LP bought a new position in Regency Centers during the fourth quarter worth about $26,000. Hantz Financial Services Inc. boosted its position in Regency Centers by 388.9% in the fourth quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $30,000 after buying an additional 350 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Regency Centers by 63.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock worth $30,000 after acquiring an additional 157 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Regency Centers during the second quarter worth $31,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Regency Centers during the 3rd quarter worth about $33,000. 96.07% of the stock is owned by institutional investors.

Regency Centers Company Profile

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.