Regency Centers (NASDAQ:REG) PT Raised to $79.00 at Wells Fargo & Company

Regency Centers (NASDAQ:REG) had its price objective upped by investment analysts at Wells Fargo & Company from $69.00 to $79.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.23% from the stock’s current price.

Several other equities research analysts have also commented on REG. Truist Financial increased their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Scotiabank upped their price objective on Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research note on Monday. Mizuho raised their target price on Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Raymond James boosted their price target on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.55.

Regency Centers Stock Up 0.0 %

Shares of NASDAQ:REG opened at $71.67 on Wednesday. The business’s 50 day moving average is $66.55 and its 200 day moving average is $62.33. Regency Centers has a 12-month low of $56.29 and a 12-month high of $71.97. The stock has a market cap of $13.24 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 4.35 and a beta of 1.21. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The company had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. During the same quarter last year, the business posted $1.03 earnings per share. On average, sell-side analysts forecast that Regency Centers will post 4.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the sale, the vice president now owns 13,010 shares in the company, valued at $905,105.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Michael R. Herman sold 1,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the sale, the vice president now directly owns 13,010 shares in the company, valued at $905,105.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now owns 307,199 shares of the company’s stock, valued at $21,503,930. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Regency Centers by 6,591.3% in the fourth quarter. International Assets Investment Management LLC now owns 16,862 shares of the company’s stock worth $1,130,000 after purchasing an additional 16,610 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Regency Centers by 14.3% in the 4th quarter. Truist Financial Corp now owns 14,647 shares of the company’s stock worth $981,000 after buying an additional 1,837 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Regency Centers by 14.8% during the 4th quarter. Van ECK Associates Corp now owns 69,293 shares of the company’s stock valued at $4,643,000 after buying an additional 8,927 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Regency Centers by 150.1% during the 4th quarter. Victory Capital Management Inc. now owns 31,092 shares of the company’s stock worth $2,083,000 after acquiring an additional 18,658 shares during the last quarter. Finally, New York Life Investment Management LLC grew its position in Regency Centers by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 43,269 shares of the company’s stock worth $2,899,000 after acquiring an additional 351 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.