Regency Centers (NASDAQ:REG) Trading Up 2% – Should You Buy?

Regency Centers Co. (NASDAQ:REG)’s stock price shot up 2% during trading on Thursday . The company traded as high as $71.76 and last traded at $71.61. 98,551 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,056,067 shares. The stock had previously closed at $70.21.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on REG shares. Evercore ISI lowered their price target 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. Wells Fargo & Company dropped their target price on Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Finally, Mizuho upped their price target 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. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Regency Centers Stock Performance

The stock has a market cap of $13.01 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03. 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 firm has a fifty day moving average price of $72.38 and a 200 day moving average price of $72.65.

Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, February 6th. The company reported $1.09 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%. Research analysts forecast that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.705 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a yield of 3.94%. Regency Centers’s dividend payout ratio is presently 133.02%.

Insider Activity

In related news, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction dated Wednesday, February 19th. The stock was 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 $10,250,758.98. The trade was a 15.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock valued at $6,977,500 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Regency Centers in the fourth quarter valued at about $1,262,425,000. Invesco Ltd. lifted its stake in Regency Centers by 121.2% during the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock worth $397,333,000 after purchasing an additional 2,944,854 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Regency Centers by 64.1% in the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock valued at $205,645,000 after buying an additional 1,086,797 shares during the period. Prudential Financial Inc. lifted its position in shares of Regency Centers by 51.7% during the fourth quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock worth $159,363,000 after purchasing an additional 734,210 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Regency Centers by 137.2% in the 4th quarter. California Public Employees Retirement System now owns 776,521 shares of the company’s stock valued at $57,408,000 after buying an additional 449,110 shares during the period. Hedge funds and other 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.