Regency Centers (NASDAQ:REG) Raised to “Strong-Buy” at Jefferies Financial Group

Regency Centers (NASDAQ:REG) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and set a $85.00 price objective for the company. in a research note on Friday, May 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Regency Centers in a research note on Friday, May 29th. BTIG Research restated a “buy” rating and set a $85.00 target price on shares of Regency Centers in a report on Friday, June 12th. Scotiabank upped their price target on Regency Centers from $76.00 to $82.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 24th. Finally, Barclays upped their price target on Regency Centers from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.27.

Regency Centers Price Performance

Regency Centers stock opened at $81.81 on Friday. The company has a fifty day simple moving average of $78.56 and a 200-day simple moving average of $75.38. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 3.40 and a beta of 0.81. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. Regency Centers has a 52-week low of $66.86 and a 52-week high of $81.93.

Insider Activity

In related news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total transaction of $626,708.62. Following the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terah L. Devereaux sold 1,240 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $80.14, for a total value of $99,373.60. Following the transaction, the insider owned 17,990 shares of the company’s stock, valued at $1,441,718.60. This trade represents a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 283,782 shares of company stock valued at $22,255,898. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Regency Centers

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Regency Centers in the fourth quarter valued at approximately $1,183,667,000. State Street Corp lifted its holdings 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 buying an additional 168,884 shares in the last quarter. Principal Financial Group Inc. lifted its holdings 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. Geode Capital Management LLC boosted its position in Regency Centers by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company’s stock valued at $338,110,000 after buying an additional 67,739 shares during the period. Finally, Invesco Ltd. boosted its position in Regency Centers by 7.2% in the 4th quarter. Invesco Ltd. now owns 4,261,437 shares of the company’s stock valued at $294,167,000 after buying an additional 287,397 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.