Wells Fargo & Company Cuts Regency Centers (NASDAQ:REG) Price Target to $79.00

Regency Centers (NASDAQ:REG) had its price target reduced by Wells Fargo & Company from $80.00 to $79.00 in a research note released on Wednesday, Marketbeat reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Mizuho increased their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. BTIG Research boosted their target price on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI reduced their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.00.

Regency Centers Trading Up 0.7 %

NASDAQ REG opened at $72.87 on Wednesday. Regency Centers has a twelve month low of $56.51 and a twelve month high of $78.18. The business’s fifty day moving average is $73.12 and its 200 day moving average is $72.98. 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 company has a market cap of $13.22 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. As a group, sell-side analysts expect that Regency Centers will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.705 per share. The ex-dividend date is Wednesday, March 12th. This represents a $2.82 annualized dividend and a yield of 3.87%. Regency Centers’s payout ratio is currently 133.02%.

Insider Buying and Selling at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the transaction, the chairman now owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. The trade was a 31.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael J. Mas sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $6,977,500 over the last three months. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Regency Centers

A number of institutional investors have recently added to or reduced their stakes in REG. Quest Partners LLC raised its position in Regency Centers by 84.8% during the third quarter. Quest Partners LLC now owns 937 shares of the company’s stock valued at $68,000 after purchasing an additional 430 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Regency Centers by 21.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 18,121 shares of the company’s stock valued at $1,309,000 after purchasing an additional 3,188 shares during the last quarter. Cerity Partners LLC raised its position in Regency Centers by 46.2% in the 3rd 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. Swedbank AB lifted its stake in Regency Centers by 7.3% in the third quarter. Swedbank AB now owns 191,283 shares of the company’s stock worth $13,816,000 after purchasing an additional 13,043 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Regency Centers during the third quarter valued at about $96,000. 96.07% of the stock is currently owned by 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.