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

Regency Centers Co. (NASDAQ:REG)’s share price traded up 1.1% during mid-day trading on Monday . The company traded as high as $71.73 and last traded at $71.84. 105,415 shares traded hands during trading, a decline of 89% from the average session volume of 1,000,174 shares. The stock had previously closed at $71.07.

Analyst Upgrades and Downgrades

REG has been the topic of several research analyst reports. Mizuho boosted their target price on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Evercore ISI reduced their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Wells Fargo & Company cut their price target on Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, BTIG Research increased their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.08.

Regency Centers Stock Up 0.8 %

The stock has a market cap of $12.99 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. The stock’s 50-day moving average is $72.81 and its 200-day moving average is $73.03. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. As a group, research analysts anticipate that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

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

Insider Activity at Regency Centers

In related news, 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 transaction, the chairman now owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. This trade represents a 31.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa Palmer sold 25,000 shares of the 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 sale, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. This represents a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,000 shares of company stock worth $6,977,500 in the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Trading of Regency Centers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Regency Centers in the fourth quarter valued at about $1,262,425,000. State Street Corp lifted its stake in Regency Centers by 1.1% during the third quarter. State Street Corp now owns 11,768,052 shares of the company’s stock worth $857,892,000 after purchasing an additional 131,300 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Regency Centers by 0.5% during the fourth quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock worth $823,711,000 after buying an additional 51,424 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Regency Centers by 1.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock valued at $771,859,000 after purchasing an additional 171,047 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Regency Centers by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock valued at $678,873,000 after purchasing an additional 366,427 shares in the last quarter. 96.07% of the stock is currently 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.