Regency Centers Corporation (NASDAQ:REG) Receives $83.06 Average Target Price from Brokerages

Regency Centers Corporation (NASDAQ:REG) has received a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $83.75.

REG has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on Regency Centers from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. LADENBURG THALM/SH SH increased their price target on Regency Centers from $83.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday. Evercore set a $83.00 price target on Regency Centers in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut Regency Centers from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a report on Friday, May 29th. Finally, Jefferies Financial Group raised Regency Centers to a “strong-buy” rating in a report on Friday, June 26th.

Insider Buying and Selling

In other Regency Centers news, insider Terah L. Devereaux sold 1,240 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.14, for a total transaction of $99,373.60. Following the completion of the transaction, the insider owned 17,990 shares in the company, valued at $1,441,718.60. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of Regency Centers stock in a transaction on Monday, May 4th. The stock was sold at an average price of $78.40, for a total transaction of $21,529,816.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 283,782 shares of company stock worth $22,255,898. Insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

Several hedge funds have recently made changes to their positions in REG. Azzad Asset Management Inc. ADV boosted its holdings in shares of Regency Centers by 68.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company’s stock worth $3,697,000 after purchasing an additional 21,799 shares during the period. M&T Bank Corp raised its holdings in Regency Centers by 168.6% during the 4th quarter. M&T Bank Corp now owns 25,931 shares of the company’s stock valued at $1,791,000 after buying an additional 16,277 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Regency Centers by 3.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 311,562 shares of the company’s stock worth $21,507,000 after buying an additional 10,745 shares during the last quarter. Legal & General Group Plc lifted its position in Regency Centers by 2.8% in the fourth quarter. Legal & General Group Plc now owns 1,705,024 shares of the company’s stock worth $117,698,000 after buying an additional 46,438 shares during the last quarter. Finally, F m Investments LLC bought a new stake in Regency Centers in the fourth quarter worth $1,128,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

Shares of NASDAQ REG opened at $80.29 on Thursday. The company has a market cap of $14.70 billion, a P/E ratio of 27.22, a P/E/G ratio of 3.40 and a beta of 0.80. Regency Centers has a 52-week low of $66.86 and a 52-week high of $83.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.14 and a current ratio of 1.21. The firm’s fifty day moving average is $79.66 and its two-hundred day moving average is $77.50.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a $0.755 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.8%. Regency Centers’s dividend payout ratio (DPR) is 102.37%.

Regency Centers Company Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.