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

Shares of Regency Centers Corporation (NASDAQ:REG) have been assigned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $81.7143.

REG has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. UBS Group upped their price objective on shares of Regency Centers from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings upgraded Regency Centers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Wells Fargo & Company boosted their target price on Regency Centers from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Finally, Citigroup raised their price target on Regency Centers from $76.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th.

Insider Activity at Regency Centers

In other news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was 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 in the company, valued at $2,614,435.14. The trade was a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $78.40, for a total value of $21,529,816.00. The SEC filing for this sale provides additional information. Insiders sold 460,032 shares of company stock valued at $35,996,456 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

A number of large investors have recently bought and sold shares of REG. Norges Bank acquired a new position in Regency Centers during the fourth quarter worth $1,183,667,000. Massachusetts Financial Services Co. MA acquired a new stake in Regency Centers in the 3rd quarter valued at $107,144,000. Principal Financial Group Inc. lifted its position in Regency Centers by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company’s stock worth $756,967,000 after buying an additional 931,272 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Regency Centers during the 4th quarter worth about $56,480,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of 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 acquiring an additional 775,609 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Regency Centers Price Performance

Shares of REG opened at $77.74 on Friday. The stock has a market cap of $14.23 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82. Regency Centers has a 1 year low of $66.86 and a 1 year high of $81.66. The stock’s 50-day moving average price is $77.61 and its two-hundred day moving average price is $73.81. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a $0.755 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.02 dividend on an annualized basis and a yield of 3.9%. Regency Centers’s payout ratio is presently 104.14%.

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.