Regency Centers (NASDAQ:REG) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Regency Centers (NASDAQ:REG) from a hold rating to a sell rating in a report published on Saturday.

REG has been the topic of a number of other research reports. Scotiabank decreased their target price on Regency Centers from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, May 12th. Truist Financial lifted their target price on Regency Centers from $78.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company decreased 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Regency Centers currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.08.

Regency Centers Stock Up 0.2%

Shares of NASDAQ REG opened at $70.40 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. Regency Centers has a 52 week low of $60.64 and a 52 week high of $78.18. The stock has a market capitalization of $12.78 billion, a P/E ratio of 33.21, a PEG ratio of 3.75 and a beta of 1.01. The stock’s fifty day moving average is $71.65 and its 200 day moving average is $72.45.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. The company had revenue of $370.35 million for the quarter, compared to analysts’ expectations of $364.64 million. During the same quarter last year, the business earned $1.08 earnings per share. Sell-side analysts forecast that Regency Centers will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Wednesday, June 11th. Regency Centers’s dividend payout ratio (DPR) is currently 133.02%.

Insider Transactions at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total value of $301,205.52. Following the transaction, the insider now directly owns 33,069 shares of the company’s stock, valued at $2,395,518.36. The trade was a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wayfinding Financial LLC acquired a new position in Regency Centers in the first quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in Regency Centers in the fourth quarter valued at approximately $26,000. National Pension Service acquired a new position in Regency Centers in the fourth quarter valued at approximately $27,000. TD Waterhouse Canada Inc. lifted its stake in Regency Centers by 48,700.0% in the fourth 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. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Regency Centers by 42.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 505 shares of the company’s stock valued at $37,000 after buying an additional 150 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

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.