Regency Centers (NYSE:REG)‘s stock had its “buy” rating reiterated by stock analysts at Robert W. Baird in a research report issued on Wednesday. They currently have a $68.00 target price on the real estate investment trust’s stock. Robert W. Baird’s price objective indicates a potential upside of 20.06% from the stock’s current price.
A number of other equities research analysts have also issued reports on the company. Deutsche Bank decreased their price target on Regency Centers from $73.00 to $72.00 and set a “hold” rating for the company in a research note on Monday. SunTrust Banks set a $67.00 target price on Regency Centers and gave the company a “buy” rating in a research report on Friday, March 2nd. Wells Fargo reaffirmed an “outperform” rating and set a $65.00 target price (down from $76.00) on shares of Regency Centers in a research report on Friday, March 2nd. Jefferies Group set a $64.00 target price on Regency Centers and gave the company a “hold” rating in a research report on Tuesday, February 27th. Finally, Zacks Investment Research lowered Regency Centers from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Regency Centers has an average rating of “Buy” and an average target price of $69.35.
Shares of REG stock opened at $56.64 on Wednesday. Regency Centers has a one year low of $54.87 and a one year high of $70.64. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $9,651.60, a P/E ratio of 65.10, a P/E/G ratio of 2.12 and a beta of 0.49.
Regency Centers declared that its Board of Directors has initiated a share buyback plan on Thursday, February 8th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, Vice Chairman Chaim Katzman sold 204,602 shares of Regency Centers stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $64.90, for a total value of $13,278,669.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John C. Schweitzer sold 7,136 shares of Regency Centers stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $58.36, for a total value of $416,456.96. Following the completion of the transaction, the director now owns 45,847 shares in the company, valued at $2,675,630.92. The disclosure for this sale can be found here. Insiders sold a total of 2,347,072 shares of company stock worth $139,128,434 over the last quarter. Company insiders own 1.10% of the company’s stock.
Several large investors have recently made changes to their positions in 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 period. Retirement Systems of Alabama increased its holdings in shares of Regency Centers by 1.2% in 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 acquiring an additional 869 shares during the period. Aperio Group LLC increased its holdings in shares of Regency Centers by 1.7% in 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 acquiring an additional 934 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Regency Centers by 3.3% in 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 acquiring an additional 950 shares during the period. Finally, Lenox Wealth Management Inc. increased its holdings in shares of Regency Centers by 11.0% in 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 acquiring an additional 1,095 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.
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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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