Regency Centers (NASDAQ:REG) Shares Up 1.1% – Here’s Why

Regency Centers Co. (NASDAQ:REG) shares were up 1.1% during trading on Wednesday . The stock traded as high as $74.19 and last traded at $74.38. Approximately 207,023 shares traded hands during trading, a decline of 80% from the average daily volume of 1,050,568 shares. The stock had previously closed at $73.57.

Analyst Upgrades and Downgrades

REG has been the subject of a number of research reports. Wells Fargo & Company dropped 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, March 26th. Mizuho lifted their target price on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Finally, Evercore ISI reduced their price target on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Regency Centers Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. The stock’s 50-day simple moving average is $73.20 and its 200 day simple moving average is $72.94. The company has a market capitalization of $13.52 billion, a PE ratio of 35.12, a P/E/G ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) 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%. As a group, research analysts expect that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.705 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 annualized dividend and a yield of 3.79%. Regency Centers’s dividend payout ratio is presently 133.02%.

Insider Transactions at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the business’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 value of $3,674,000.00. Following the completion of the sale, the chairman now owns 110,263 shares in the company, valued at approximately $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 this hyperlink. Also, CFO Michael J. Mas sold 20,000 shares of the firm’s stock in a transaction that occurred 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 owns 54,020 shares in the company, valued at approximately $3,975,872. This trade represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,000 shares of company stock worth $6,977,500. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

A number of hedge funds have recently added to or reduced their stakes in REG. Heck Capital Advisors LLC purchased a new position in Regency Centers during the 4th quarter worth $26,000. National Pension Service purchased a new position in shares of Regency Centers during the 4th quarter worth approximately $27,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Regency Centers by 48,700.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company’s stock valued at $36,000 after buying an additional 487 shares during the period. Canada Post Corp Registered Pension Plan acquired a new position in Regency Centers during the fourth quarter worth $39,000. Finally, Ameriflex Group Inc. purchased a new position in Regency Centers in the fourth quarter worth $53,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Company Profile

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.