Regency Centers Corp (NYSE:REG) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $71.33.
Several analysts recently issued reports on the company. Jefferies Group set a $64.00 target price on Regency Centers and gave the stock a “hold” rating in a research report on Tuesday. Zacks Investment Research cut Regency Centers from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Boenning Scattergood restated a “hold” rating on shares of Regency Centers in a report on Monday, February 12th. TheStreet cut Regency Centers from a “b-” rating to a “c” rating in a report on Thursday, February 8th. Finally, BTIG Research upgraded Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, January 29th.
Regency Centers (NYSE REG) traded down $1.42 during trading hours on Tuesday, hitting $57.91. The company had a trading volume of 1,457,830 shares, compared to its average volume of 1,186,298. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.94 and a quick ratio of 0.63. Regency Centers has a 12-month low of $54.87 and a 12-month high of $71.54. The stock has a market capitalization of $10,112.25, a PE ratio of 66.56, a P/E/G ratio of 2.21 and a beta of 0.43.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, February 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.38. Regency Centers’s dividend payout ratio (DPR) is currently 255.17%.
Regency Centers declared that its board has authorized a stock repurchase plan on Thursday, February 8th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director John C. Schweitzer sold 7,136 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $58.36, for a total value of $416,456.96. Following the completion of the sale, the director now directly owns 45,847 shares of the company’s stock, valued at approximately $2,675,630.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO J Christian Leavitt sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $67.61, for a total value of $135,220.00. Following the completion of the sale, the chief accounting officer now directly owns 14,314 shares of the company’s stock, valued at $967,769.54. The disclosure for this sale can be found here. Insiders have sold a total of 2,365,155 shares of company stock valued at $140,381,212 in the last 90 days. 12.66% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Regency Centers by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,156,883 shares of the real estate investment trust’s stock valued at $319,928,000 after purchasing an additional 193,020 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Regency Centers by 3,080.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,505 shares of the real estate investment trust’s stock valued at $466,000 after purchasing an additional 7,269 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Regency Centers by 7.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,586,197 shares of the real estate investment trust’s stock valued at $98,408,000 after purchasing an additional 107,561 shares during the last quarter. Honeywell International Inc. lifted its stake in shares of Regency Centers by 27.8% in the 3rd quarter. Honeywell International Inc. now owns 56,679 shares of the real estate investment trust’s stock valued at $3,516,000 after purchasing an additional 12,312 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Regency Centers by 1.2% in the 3rd quarter. Swiss National Bank now owns 651,279 shares of the real estate investment trust’s stock valued at $40,405,000 after purchasing an additional 7,700 shares during the last quarter. 91.74% of the stock is owned by institutional investors and hedge funds.
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About Regency Centers
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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