Regency Centers (NASDAQ:REG) Sets New 12-Month High on Analyst Upgrade

Regency Centers Corporation (NASDAQ:REG)’s stock price hit a new 52-week high on Monday after Barclays raised their price target on the stock from $82.00 to $85.00. Barclays currently has an overweight rating on the stock. Regency Centers traded as high as $79.39 and last traded at $79.0680, with a volume of 207163 shares traded. The stock had previously closed at $79.00.

Several other analysts have also weighed in on the company. Mizuho restated a “neutral” rating and issued a $74.00 price objective (down from $77.00) on shares of Regency Centers in a report on Friday, January 9th. Scotiabank dropped their price target on shares of Regency Centers from $78.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. Robert W. Baird set a $84.00 price objective on shares of Regency Centers in a research report on Tuesday, February 10th. Royal Bank Of Canada raised shares of Regency Centers to a “sector perform” rating in a research note on Friday, January 9th. Finally, Truist Financial boosted their target price on shares of Regency Centers from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.50.

Insider Activity

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

Institutional Investors Weigh In On Regency Centers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC purchased a new stake in shares of Regency Centers in the third quarter valued at $1,083,000. Inspire Investing LLC increased its position in Regency Centers by 441.4% during the 3rd quarter. Inspire Investing LLC now owns 21,736 shares of the company’s stock worth $1,585,000 after purchasing an additional 17,721 shares in the last quarter. Pacific Heights Asset Management LLC raised its stake in Regency Centers by 50.0% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock valued at $16,402,000 after purchasing an additional 75,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Regency Centers by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,786,646 shares of the company’s stock valued at $339,669,000 after purchasing an additional 65,719 shares in the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in Regency Centers in the 3rd quarter valued at about $1,031,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Price Performance

The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 3.40 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The company’s 50 day simple moving average is $72.56 and its 200-day simple moving average is $71.41.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.755 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $3.02 annualized dividend and a dividend yield of 3.8%. Regency Centers’s payout ratio is currently 107.86%.

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.