Regency Centers (NASDAQ:REG) Reaches New 12-Month High Following Analyst Upgrade

Regency Centers Corporation (NASDAQ:REG) reached a new 52-week high on Friday after Jefferies Financial Group upgraded the stock to a strong-buy rating. The company traded as high as $81.93 and last traded at $81.81, with a volume of 2578710 shares. The stock had previously closed at $80.25.

A number of other research analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a research report on Friday, May 29th. Morgan Stanley raised their price target on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Scotiabank lifted their price target on shares of Regency Centers from $76.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. BTIG Research reiterated a “buy” rating and issued a $85.00 price objective on shares of Regency Centers in a report on Friday, June 12th. Finally, Truist Financial upped their price objective on shares of Regency Centers from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.27.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the sale, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terah L. Devereaux sold 1,240 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the sale, the insider directly owned 17,990 shares in the company, 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. Insiders sold a total of 283,782 shares of company stock worth $22,255,898 over the last 90 days. 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. Pensionfund Sabic acquired a new stake in shares of Regency Centers in the 4th quarter worth about $1,339,000. Azzad Asset Management Inc. ADV boosted its stake in Regency Centers by 68.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company’s stock valued at $3,697,000 after purchasing an additional 21,799 shares during the period. M&T Bank Corp boosted its stake in Regency Centers by 168.6% during the 4th quarter. M&T Bank Corp now owns 25,931 shares of the company’s stock valued at $1,791,000 after purchasing an additional 16,277 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Regency Centers by 3.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 311,562 shares of the company’s stock worth $21,507,000 after purchasing an additional 10,745 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Regency Centers by 2.8% in the 4th quarter. Legal & General Group Plc now owns 1,705,024 shares of the company’s stock worth $117,698,000 after purchasing an additional 46,438 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Regency Centers Stock Up 1.9%

The firm’s 50 day simple moving average is $78.56 and its 200 day simple moving average is $75.38. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 3.47 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, June 12th. Regency Centers’s dividend payout ratio (DPR) 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.