Regency Centers (NASDAQ:REG) Price Target Raised to $75.00

Regency Centers (NASDAQ:REG) had its target price lifted by Scotiabank from $65.00 to $75.00 in a research note published on Monday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

REG has been the topic of a number of other research reports. Raymond James raised their price target on Regency Centers from $67.00 to $75.00 and gave the stock an outperform rating in a research report on Friday, August 16th. Mizuho raised their target price on shares of Regency Centers from $67.00 to $73.00 and gave the company an outperform rating in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Regency Centers from $71.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Finally, Truist Financial lifted 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. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $74.55.

Regency Centers Price Performance

Regency Centers stock opened at $71.66 on Monday. The company has a market capitalization 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 stock’s 50 day moving average is $66.35 and its 200-day moving average is $62.26. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Regency Centers has a 12 month low of $56.29 and a 12 month high of $71.97.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $361.56 million. During the same period in the prior year, the business posted $1.03 earnings per share. Equities research analysts expect that Regency Centers will post 4.23 EPS for the current year.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, September 12th. Regency Centers’s payout ratio is 130.73%.

Insider Activity

In other news, VP Michael R. Herman sold 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the completion of the transaction, the vice president now owns 13,010 shares of the company’s stock, valued at $905,105.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Regency Centers 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 value of $69,570.00. Following the sale, the vice president now owns 13,010 shares in the company, valued at approximately $905,105.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction dated 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 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 currently owned by insiders.

Institutional Investors Weigh In On Regency Centers

A number of institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in Regency Centers during the fourth quarter valued at $1,140,242,000. PGGM Investments boosted its position in shares of Regency Centers by 2,586.9% during the 2nd quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after purchasing an additional 1,608,431 shares in the last quarter. Principal Financial Group Inc. grew its stake in Regency Centers by 16.5% during the first quarter. Principal Financial Group Inc. now owns 8,565,897 shares of the company’s stock worth $518,751,000 after purchasing an additional 1,210,906 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Regency Centers by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock worth $547,995,000 after purchasing an additional 873,062 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Regency Centers by 3.0% in the first quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock valued at $1,749,520,000 after buying an additional 830,572 shares during the period. 96.07% of the stock is owned by 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.