Regency Centers (NASDAQ:REG) Hits New 52-Week High – Here’s Why

Regency Centers Corporation (NASDAQ:REG) reached a new 52-week high during trading on Thursday . The company traded as high as $79.92 and last traded at $79.77, with a volume of 42022 shares changing hands. The stock had previously closed at $79.52.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird set a $84.00 target price on shares of Regency Centers in a research report on Tuesday, February 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Regency Centers in a research report on Monday, January 5th. Wells Fargo & Company increased their target price on shares of Regency Centers from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft raised shares of Regency Centers from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, January 20th. Finally, Scotiabank increased their target price on shares of Regency Centers from $76.00 to $82.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 24th. 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. According to MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and a consensus price target of $80.14.

Regency Centers Stock Performance

The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 3.43 and a beta of 0.90. The stock’s 50 day moving average is $77.00 and its two-hundred day moving average is $72.67. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th were paid a dividend of $0.755 per share. The ex-dividend date was Wednesday, March 11th. This represents a $3.02 dividend on an annualized basis and a yield of 3.8%. Regency Centers’s dividend payout ratio is currently 107.86%.

Insiders Place Their Bets

In related news, Chairman Martin E. Stein, Jr. sold 38,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $77.21, for a total transaction of $2,933,980.00. Following the completion of the sale, the chairman owned 157,892 shares in the company, valued at $12,190,841.32. This represents a 19.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 177,490 shares of company stock worth $13,839,932. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Regency Centers

A number of large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Regency Centers during the 4th quarter worth $1,183,667,000. State Street Corp boosted its stake in Regency Centers by 1.4% during the 4th quarter. State Street Corp now owns 12,572,876 shares of the company’s stock worth $877,261,000 after purchasing an additional 168,884 shares during the period. Geode Capital Management LLC boosted its stake in Regency Centers by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company’s stock worth $338,110,000 after purchasing an additional 67,739 shares during the period. Invesco Ltd. boosted its stake in Regency Centers by 7.2% during the 4th quarter. Invesco Ltd. now owns 4,261,437 shares of the company’s stock worth $294,167,000 after purchasing an additional 287,397 shares during the period. Finally, Boston Partners boosted its stake in Regency Centers by 2.1% during the 3rd quarter. Boston Partners now owns 3,540,137 shares of the company’s stock worth $258,062,000 after purchasing an additional 72,584 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.