Regency Centers Corporation (NASDAQ:REG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Regency Centers Corporation (NASDAQ:REG) have been assigned an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $83.75.

A number of brokerages recently commented on REG. Raymond James Financial reiterated an “outperform” rating and issued a $88.00 price target on shares of Regency Centers in a research note on Monday, June 29th. BTIG Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of Regency Centers in a research report on Friday, June 12th. Evercore set a $83.00 price target on Regency Centers in a report on Thursday. Barclays boosted their price target on Regency Centers from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company increased their price objective on Regency Centers from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd.

Insiders Place Their Bets

In other Regency Centers news, insider Terah L. Devereaux sold 1,240 shares of the business’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 completion of the sale, the insider owned 17,990 shares of the company’s stock, valued at $1,441,718.60. The trade was a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regency Centers

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in Regency Centers in the 4th quarter valued at about $1,183,667,000. Principal Financial Group Inc. boosted its position in shares of 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 acquiring an additional 931,272 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in Regency Centers in the fourth quarter valued at approximately $56,480,000. Goldman Sachs Group Inc. raised its position in Regency Centers by 75.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company’s stock valued at $124,680,000 after purchasing an additional 775,609 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Regency Centers by 364.9% during the fourth quarter. AQR Capital Management LLC now owns 842,037 shares of the company’s stock valued at $58,126,000 after purchasing an additional 660,896 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Regency Centers Price Performance

NASDAQ:REG opened at $80.30 on Thursday. The company has a market cap of $14.70 billion, a P/E ratio of 27.22, a P/E/G ratio of 3.40 and a beta of 0.80. The firm’s fifty day moving average price is $79.69 and its two-hundred day moving average price is $77.63. Regency Centers has a one year low of $66.86 and a one year high of $83.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.21 and a quick ratio of 2.14.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, June 12th. Regency Centers’s dividend payout ratio (DPR) is currently 102.37%.

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.