Regency Centers Corp (NYSE:REG) insider H Craig Ramey sold 1,400 shares of Regency Centers stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $59.11, for a total transaction of $82,754.00. Following the sale, the insider now owns 18,337 shares in the company, valued at approximately $1,083,900.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Regency Centers Corp (NYSE REG) traded up $0.14 during midday trading on Friday, hitting $59.10. The company’s stock had a trading volume of 1,376,076 shares, compared to its average volume of 1,249,160. The company has a market capitalization of $10,093.93, a PE ratio of 15.97, a PEG ratio of 2.22 and a beta of 0.49. Regency Centers Corp has a 12 month low of $54.87 and a 12 month high of $70.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.94.
Regency Centers (NYSE:REG) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.42). The company had revenue of $257.95 million for the quarter, compared to the consensus estimate of $257.60 million. Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. During the same period in the previous year, the business posted $0.86 earnings per share. equities analysts forecast that Regency Centers Corp will post 3.8 EPS for the current year.
Regency Centers declared that its Board of Directors has initiated a share buyback plan on Thursday, February 8th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Regency Centers by 1.4% during the fourth quarter. BlackRock Inc. now owns 15,413,941 shares of the real estate investment trust’s stock valued at $1,066,338,000 after acquiring an additional 214,023 shares during the period. APG Asset Management US Inc. raised its holdings in shares of Regency Centers by 1.6% in the fourth quarter. APG Asset Management US Inc. now owns 5,247,000 shares of the real estate investment trust’s stock valued at $362,987,000 after buying an additional 84,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Regency Centers by 3.9% in the third 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 buying an additional 193,020 shares during the last quarter. Cbre Clarion Securities LLC raised its holdings in shares of Regency Centers by 24.3% in the fourth quarter. Cbre Clarion Securities LLC now owns 5,093,711 shares of the real estate investment trust’s stock valued at $352,383,000 after buying an additional 997,435 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Regency Centers by 3.8% in the fourth quarter. Boston Partners now owns 2,702,234 shares of the real estate investment trust’s stock valued at $186,941,000 after buying an additional 99,819 shares during the last quarter. 90.64% of the stock is owned by institutional investors.
A number of research firms have weighed in on REG. SunTrust Banks set a $67.00 price target on shares of Regency Centers and gave the stock a “buy” rating in a research note on Friday, March 2nd. Wells Fargo & Co reiterated an “outperform” rating and set a $65.00 price target (down previously from $76.00) on shares of Regency Centers in a research note on Friday, March 2nd. Jefferies Group set a $64.00 price target on shares of Regency Centers and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Zacks Investment Research downgraded shares of Regency Centers from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Regency Centers in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Regency Centers has a consensus rating of “Buy” and a consensus target price of $69.46.
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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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