Regency Centers (NASDAQ:REG) Hits New 52-Week High – What’s Next?

Shares of Regency Centers Co. (NASDAQ:REG) hit a new 52-week high during trading on Friday . The company traded as high as $76.56 and last traded at $76.56, with a volume of 29472 shares trading hands. The stock had previously closed at $75.56.

Wall Street Analysts Forecast Growth

A number of analysts have commented on REG shares. Robert W. Baird increased their price target on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Evercore ISI cut their price target on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Wells Fargo & Company dropped their price objective on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Mizuho increased their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Regency Centers has an average rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Stock Up 1.5 %

The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The firm’s 50 day simple moving average is $72.69 and its two-hundred day simple moving average is $72.72. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 3.75 and a beta of 1.22.

Regency Centers (NASDAQ:REG) last issued its earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. On average, equities analysts forecast that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s payout ratio is presently 133.02%.

Insider Activity at Regency Centers

In related news, CFO Michael J. Mas sold 20,000 shares of Regency Centers stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the sale, the chief financial officer now directly owns 54,020 shares of the company’s stock, valued at approximately $3,975,872. The trade was a 27.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the sale, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. This trade represents a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regency Centers

A number of institutional investors have recently added to or reduced their stakes in REG. Norges Bank bought a new stake in Regency Centers during the 4th quarter worth approximately $1,262,425,000. Invesco Ltd. grew its holdings in Regency Centers by 121.2% during the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock worth $397,333,000 after acquiring an additional 2,944,854 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Regency Centers by 1,138.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock worth $149,932,000 after acquiring an additional 1,908,153 shares during the last quarter. Northern Trust Corp grew its holdings in Regency Centers by 64.1% during the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock worth $205,645,000 after acquiring an additional 1,086,797 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in Regency Centers by 51.7% during the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock worth $159,363,000 after acquiring an additional 734,210 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

About Regency Centers

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.