Regency Centers (NASDAQ:REG) Shares Up 0.7% – Here’s Why

Regency Centers Co. (NASDAQ:REG)’s stock price was up 0.7% during trading on Thursday . The company traded as high as $73.32 and last traded at $73.33. Approximately 91,015 shares were traded during trading, a decline of 91% from the average daily volume of 1,001,140 shares. The stock had previously closed at $72.83.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on REG shares. Wells Fargo & Company reduced their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Wednesday. Mizuho lifted their price target on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, Evercore ISI cut their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.00.

Regency Centers Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The stock has a market capitalization of $13.22 billion, a P/E ratio of 34.37, a PEG ratio of 3.75 and a beta of 1.23. The stock’s fifty day moving average is $73.12 and its 200-day moving average is $72.98.

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

Regency Centers Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers’s dividend payout ratio is 133.02%.

Insider Transactions at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the transaction, the chairman now directly owns 110,263 shares in the company, valued at $8,102,125.24. The trade was a 31.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael J. Mas sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the transaction, the chief financial officer now directly owns 54,020 shares in the company, valued at $3,975,872. This trade represents a 27.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,000 shares of company stock worth $6,977,500. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in REG. Quest Partners LLC lifted its position in shares of Regency Centers by 84.8% in the 3rd quarter. Quest Partners LLC now owns 937 shares of the company’s stock worth $68,000 after acquiring an additional 430 shares during the period. Cerity Partners LLC raised its stake in shares of Regency Centers by 46.2% in the third quarter. Cerity Partners LLC now owns 9,722 shares of the company’s stock valued at $702,000 after purchasing an additional 3,074 shares in the last quarter. Glenmede Trust Co. NA lifted its position in Regency Centers by 4.4% in the third quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company’s stock worth $244,000 after purchasing an additional 141 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Regency Centers by 23.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 170,463 shares of the company’s stock worth $12,313,000 after buying an additional 32,822 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Regency Centers by 1,138.5% in 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 valued at $149,932,000 after buying an additional 1,908,153 shares during the period. Institutional investors and hedge funds 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.