Evercore ISI cut shares of Regency Centers (NASDAQ:REG – Free Report) from an outperform rating to an inline rating in a research note published on Monday morning, Marketbeat.com reports. They currently have $75.00 target price on the stock, up from their previous target price of $72.00.
Several other research analysts have also recently commented on REG. Mizuho boosted their target price on Regency Centers from $67.00 to $73.00 and gave the stock an outperform rating in a research note on Monday, August 19th. Raymond James boosted their target price on Regency Centers from $67.00 to $75.00 and gave the stock an outperform rating in a research note on Friday, August 16th. Scotiabank boosted their target price on Regency Centers from $65.00 to $75.00 and gave the stock a sector perform rating in a research note on Monday, August 26th. Wells Fargo & Company upped their price objective on Regency Centers from $69.00 to $79.00 and gave the stock an overweight rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upped their price objective on Regency Centers from $71.00 to $77.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $75.55.
Read Our Latest Analysis on REG
Regency Centers Price Performance
Regency Centers (NASDAQ:REG – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) 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 firm had revenue of $357.25 million during the quarter, compared to analysts’ expectations of $361.56 million. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, sell-side analysts anticipate that Regency Centers will post 4.23 EPS for the current year.
Regency Centers Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.67 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.65%. Regency Centers’s dividend payout ratio (DPR) is presently 130.73%.
Insider Activity at Regency Centers
In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’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 completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’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 completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the completion of the sale, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Institutional Trading of Regency Centers
Several institutional investors and hedge funds have recently added to or reduced their stakes in REG. PGGM Investments raised its stake in 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 acquiring an additional 1,608,431 shares during the last quarter. Principal Financial Group Inc. raised its stake in Regency Centers by 16.5% during the 1st quarter. Principal Financial Group Inc. now owns 8,565,897 shares of the company’s stock valued at $518,751,000 after acquiring an additional 1,210,906 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Regency Centers by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after acquiring an additional 873,062 shares during the last quarter. Vanguard Group Inc. raised its stake in Regency Centers by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock valued at $1,749,520,000 after acquiring an additional 830,572 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Regency Centers by 67.0% during the 1st quarter. Russell Investments Group Ltd. now owns 987,147 shares of the company’s stock valued at $59,768,000 after acquiring an additional 395,901 shares during the last quarter. 96.07% of the stock is 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.
Featured Articles
- Five stocks we like better than Regency Centers
- Consumer Staples Stocks, Explained
- How Much Can You Make in Stocks in One Month?
- Insider Trades May Not Tell You What You Think
- This Is the Top Large-Cap Stock Insiders Are Buying
- How to Buy Cheap Stocks Step by Step
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Receive News & Ratings for Regency Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regency Centers and related companies with MarketBeat.com's FREE daily email newsletter.