Regency Centers (NASDAQ:REG) Price Target Raised to $78.00

Regency Centers (NASDAQ:REG) had its price target upped by Truist Financial from $70.00 to $78.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on REG. JPMorgan Chase & Co. upped their price objective on Regency Centers from $71.00 to $77.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Mizuho upgraded Regency Centers from a neutral rating to an outperform rating and upped their price objective for the company from $61.00 to $67.00 in a research note on Tuesday, July 9th. Finally, Scotiabank lowered their price objective on Regency Centers from $68.00 to $65.00 and set a sector perform rating on the stock in a research note on Thursday, May 16th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $72.33.

Regency Centers Price Performance

NASDAQ REG opened at $69.77 on Friday. Regency Centers has a twelve month low of $56.29 and a twelve month high of $71.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $12.66 billion, a PE ratio of 34.03, a P/E/G ratio of 4.39 and a beta of 1.21. The stock has a 50-day simple moving average of $64.77 and a 200 day simple moving average of $61.77.

Regency Centers (NASDAQ:REG) last posted 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 return on equity of 5.63% and a net margin of 27.60%. The business had revenue of $357.25 million for the quarter, compared to analyst estimates of $361.56 million. During the same period in the prior year, the firm posted $1.03 EPS. Research analysts anticipate that Regency Centers will post 4.23 EPS for the current year.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a $0.67 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.84%. Regency Centers’s payout ratio is 130.73%.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the transaction, the chairman now directly owns 307,199 shares in the company, valued at approximately $21,503,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in REG. Capital Analysts LLC acquired a new position in shares of Regency Centers in the 4th quarter valued at $27,000. Fidelis Capital Partners LLC acquired a new stake in Regency Centers during the 1st quarter worth $27,000. Quest Partners LLC raised its stake in Regency Centers by 25,250.0% during the 2nd quarter. Quest Partners LLC now owns 507 shares of the company’s stock worth $32,000 after buying an additional 505 shares during the period. Family Firm Inc. acquired a new stake in Regency Centers during the 2nd quarter worth $44,000. Finally, Blue Trust Inc. raised its stake in Regency Centers by 582.1% during the 2nd quarter. Blue Trust Inc. now owns 839 shares of the company’s stock worth $51,000 after buying an additional 716 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.