Regency Centers (NASDAQ:REG) Shares Down 3.4% – Time to Sell?

Regency Centers Co. (NASDAQ:REG)’s share price dropped 3.4% on Thursday . The stock traded as low as $71.00 and last traded at $72.21. Approximately 323,148 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,050,579 shares. The stock had previously closed at $74.74.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Evercore ISI lowered their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Finally, Mizuho boosted their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Regency Centers has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Regency Centers Stock Performance

The company has a 50 day simple moving average of $73.27 and a 200 day simple moving average of $72.95. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last posted its earnings results on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 3.91%. The ex-dividend date was Wednesday, March 12th. Regency Centers’s payout ratio is presently 133.02%.

Insider Transactions at Regency Centers

In related news, CFO Michael J. Mas sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the completion of the sale, the chief financial officer now owns 54,020 shares of the company’s stock, valued at $3,975,872. This trade represents a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction that occurred on 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 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 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 over the last ninety days. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC raised its position in shares of Regency Centers by 46.2% during the third quarter. Cerity Partners LLC now owns 9,722 shares of the company’s stock worth $702,000 after purchasing an additional 3,074 shares during the period. Glenmede Trust Co. NA raised its holdings in Regency Centers by 4.4% during the third quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company’s stock worth $244,000 after buying an additional 141 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Regency Centers by 26.4% during the third quarter. Public Sector Pension Investment Board now owns 28,421 shares of the company’s stock valued at $2,053,000 after buying an additional 5,939 shares during the last quarter. Martingale Asset Management L P bought a new stake in shares of Regency Centers during the third quarter worth about $332,000. Finally, Verition Fund Management LLC raised its holdings in shares of Regency Centers by 138.1% in the 3rd quarter. Verition Fund Management LLC now owns 13,694 shares of the company’s stock worth $989,000 after acquiring an additional 7,942 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Company Profile

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.