Regency Centers (NASDAQ:REG) Upgraded by Wells Fargo & Company to Strong-Buy Rating

Wells Fargo & Company upgraded shares of Regency Centers (NASDAQ:REG) to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

REG has been the topic of several other research reports. Barclays upped their price objective on shares of Regency Centers from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Morgan Stanley boosted their target price on shares of Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Raymond James Financial restated an “outperform” rating and issued a $88.00 target price on shares of Regency Centers in a report on Monday, June 29th. Evercore set a $81.00 price target on Regency Centers in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group raised Regency Centers to a “strong-buy” rating in a report on Friday, June 26th. Three research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.06.

Regency Centers Price Performance

Shares of NASDAQ:REG opened at $82.15 on Thursday. Regency Centers has a twelve month low of $66.86 and a twelve month high of $83.66. The stock’s 50 day moving average is $79.35 and its 200-day moving average is $77.11. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 3.44 and a beta of 0.80.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a $0.755 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.02 annualized dividend and a dividend yield of 3.7%. Regency Centers’s dividend payout ratio is currently 104.14%.

Insider Activity at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total transaction of $626,708.62. Following the transaction, the insider directly owned 33,069 shares of the company’s stock, valued at $2,614,435.14. This trade represents 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 business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the transaction, the insider owned 17,990 shares in the company, valued at approximately $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 have sold 283,782 shares of company stock valued at $22,255,898 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

Hedge funds and other institutional investors have recently modified their holdings of the business. Havemeyer Place LP purchased a new stake in shares of Regency Centers during the fourth quarter valued at approximately $26,000. Hantz Financial Services Inc. boosted its position in Regency Centers by 388.9% in the fourth quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $30,000 after purchasing an additional 350 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Regency Centers in the 2nd quarter valued at $31,000. Finally, MUFG Securities EMEA plc bought a new position in Regency Centers in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors 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.