Regency Centers (NASDAQ:REG) Price Target Cut to $80.00 by Analysts at Wells Fargo & Company

Regency Centers (NASDAQ:REG) had its target price lowered by Wells Fargo & Company from $81.00 to $80.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

REG has been the subject of a number of other reports. BTIG Research raised their price target on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. KeyCorp assumed coverage on shares of Regency Centers in a research report on Friday, October 25th. They set an “overweight” rating and a $80.00 target price for the company. Robert W. Baird increased their price target on Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Mizuho boosted their price objective on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their target price on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Regency Centers presently has an average rating of “Moderate Buy” and a consensus target price of $78.08.

Regency Centers Price Performance

Shares of REG stock opened at $71.33 on Wednesday. Regency Centers has a fifty-two week low of $56.51 and a fifty-two week high of $76.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 3.68 and a beta of 1.22. The stock’s 50-day simple moving average is $73.19 and its 200-day simple moving average is $71.83.

Regency Centers (NASDAQ:REG) last released its earnings results on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.50). The company had revenue of $360.27 million for the quarter, compared to analysts’ expectations of $355.17 million. Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. During the same period in the prior year, the firm posted $1.02 EPS. As a group, equities analysts forecast that Regency Centers will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 16th were given a $0.705 dividend. The ex-dividend date was Monday, December 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.95%. Regency Centers’s payout ratio is 132.39%.

Hedge Funds Weigh In On Regency Centers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trustmark National Bank Trust Department acquired a new position in Regency Centers in the 3rd quarter valued at $719,000. HighTower Advisors LLC raised its position in shares of Regency Centers by 47.3% in the third quarter. HighTower Advisors LLC now owns 29,342 shares of the company’s stock valued at $2,121,000 after buying an additional 9,424 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Regency Centers by 9.3% in the third quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company’s stock worth $7,615,000 after buying an additional 8,959 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Regency Centers during the third quarter worth about $953,000. Finally, Van ECK Associates Corp grew its stake in Regency Centers by 11.2% during the 3rd quarter. Van ECK Associates Corp now owns 77,755 shares of the company’s stock valued at $5,616,000 after acquiring an additional 7,802 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.