Jefferies Group set a $64.00 price objective on Regency Centers (NYSE:REG) in a research report sent to investors on Tuesday morning. The firm currently has a hold rating on the real estate investment trust’s stock. Jefferies Group also issued estimates for Regency Centers’ Q4 2018 earnings at $0.97 EPS and FY2020 earnings at $4.21 EPS.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Regency Centers from a buy rating to a hold rating in a report on Tuesday, November 28th. Robert W. Baird restated a buy rating on shares of Regency Centers in a report on Friday, November 3rd. Boenning Scattergood restated a hold rating on shares of Regency Centers in a report on Monday, November 6th. BTIG Research upgraded Regency Centers from a neutral rating to a buy rating and set a $72.00 price objective on the stock in a report on Monday, January 29th. Finally, BMO Capital Markets set a $68.00 price objective on Regency Centers and gave the stock a hold rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $70.71.
Shares of Regency Centers (NYSE REG) opened at $57.91 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. Regency Centers has a twelve month low of $54.87 and a twelve month high of $71.54. The stock has a market capitalization of $10,167.08, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.43.
Regency Centers announced that its Board of Directors has authorized a share buyback plan on Thursday, February 8th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 3.83%. This is an increase from Regency Centers’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 16th. Regency Centers’s payout ratio is 255.17%.
In other news, Director Chaim Katzman sold 1,759,257 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $57.56, for a total value of $101,262,832.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Todd Roth sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $69.89, for a total value of $174,725.00. Following the completion of the sale, the director now owns 7,453 shares of the company’s stock, valued at $520,890.17. The disclosure for this sale can be found here. Insiders sold a total of 2,365,155 shares of company stock valued at $140,381,212 over the last quarter. Company insiders own 12.66% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Norinchukin Bank The increased its holdings in shares of Regency Centers by 8.5% in the 3rd quarter. Norinchukin Bank The now owns 11,012 shares of the real estate investment trust’s stock valued at $683,000 after acquiring an additional 861 shares during the last quarter. Retirement Systems of Alabama boosted its position in Regency Centers by 1.2% during the 3rd quarter. Retirement Systems of Alabama now owns 71,787 shares of the real estate investment trust’s stock valued at $4,454,000 after purchasing an additional 869 shares during the period. Aperio Group LLC boosted its position in Regency Centers by 1.7% during the 4th quarter. Aperio Group LLC now owns 54,445 shares of the real estate investment trust’s stock valued at $3,767,000 after purchasing an additional 934 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Regency Centers by 3.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 29,981 shares of the real estate investment trust’s stock valued at $2,074,000 after purchasing an additional 950 shares during the period. Finally, Lenox Wealth Management Inc. boosted its position in Regency Centers by 11.0% during the 4th quarter. Lenox Wealth Management Inc. now owns 11,053 shares of the real estate investment trust’s stock valued at $765,000 after purchasing an additional 1,095 shares during the period. Institutional investors and hedge funds own 91.74% of the company’s stock.
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.
Receive News & Ratings for Regency Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regency Centers and related companies with MarketBeat.com's FREE daily email newsletter.