Regency Centers (NASDAQ:REG) Trading Down 3.4% – What’s Next?

Regency Centers Co. (NASDAQ:REG) dropped 3.4% during mid-day trading on Thursday . The stock traded as low as $71.00 and last traded at $72.21. Approximately 323,148 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,050,579 shares. The stock had previously closed at $74.74.

Wall Street Analyst Weigh In

Several brokerages have recently commented on REG. Wells Fargo & Company decreased their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Evercore ISI lowered their price target on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Finally, Mizuho boosted their price target on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Regency Centers Trading Down 4.6 %

The company has a 50 day simple moving average of $73.23 and a 200 day simple moving average of $72.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. The company has a market capitalization of $12.48 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. Analysts anticipate that Regency Centers Co. will post 4.54 earnings per share for the current year.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Wednesday, March 12th. Regency Centers’s payout ratio is 133.02%.

Insider Transactions at Regency Centers

In related news, CEO Lisa Palmer sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the sale, the chief executive officer now directly owns 139,923 shares in the company, valued at approximately $10,250,758.98. This represents a 15.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of Regency Centers stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 $8,102,125.24. This represents a 31.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock worth $6,977,500 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Regency Centers during the fourth quarter worth $1,262,425,000. State Street Corp raised its position in Regency Centers by 1.1% in the third quarter. State Street Corp now owns 11,768,052 shares of the company’s stock worth $857,892,000 after acquiring an additional 131,300 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Regency Centers by 0.5% in the fourth quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock valued at $823,711,000 after acquiring an additional 51,424 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Regency Centers by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock worth $771,859,000 after purchasing an additional 171,047 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Regency Centers by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock worth $678,873,000 after purchasing an additional 366,427 shares during the period. 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.