Regency Centers (NASDAQ:REG) Trading Up 1.3% – Should You Buy?

Regency Centers Co. (NASDAQ:REG)’s share price shot up 1.3% during trading on Monday . The company traded as high as $72.52 and last traded at $72.46. 214,922 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,001,942 shares. The stock had previously closed at $71.50.

Analysts Set New Price Targets

REG has been the subject of several research reports. BTIG Research raised their price target on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Evercore ISI decreased their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Wells Fargo & Company dropped their price target 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. Finally, Mizuho raised their target price on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.08.

Regency Centers Stock Performance

The stock’s 50 day moving average is $73.03 and its two-hundred day moving average is $73.00. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. Analysts expect that Regency Centers Co. will post 4.54 earnings per share for the current fiscal 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 issued a $0.705 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.91%. Regency Centers’s payout ratio is 133.02%.

Insiders Place Their Bets

In related news, CFO Michael J. Mas sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value 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 $3,975,872. This trade represents a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the transaction, the chief executive officer now owns 139,923 shares in the company, valued at approximately $10,250,758.98. This represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,000 shares of company stock worth $6,977,500 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regency Centers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Regency Centers in the 4th quarter valued at $1,262,425,000. State Street Corp increased its holdings in Regency Centers by 1.1% in the 3rd quarter. State Street Corp now owns 11,768,052 shares of the company’s stock worth $857,892,000 after purchasing an additional 131,300 shares in the last quarter. JPMorgan Chase & Co. raised its position in Regency Centers by 0.5% in the fourth quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock valued at $823,711,000 after purchasing an additional 51,424 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Regency Centers by 1.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock valued at $771,859,000 after purchasing an additional 171,047 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Regency Centers by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock worth $678,873,000 after purchasing an additional 366,427 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

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.