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

Regency Centers (NASDAQ:REG) had its price target hoisted by Wells Fargo & Company from $69.00 to $79.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Mizuho upped their price target on Regency Centers from $67.00 to $73.00 and gave the stock an outperform rating in a research report on Monday, August 19th. Raymond James increased their target price on shares of Regency Centers from $67.00 to $75.00 and gave the stock an outperform rating in a report on Friday, August 16th. Scotiabank raised their target price on shares of Regency Centers from $65.00 to $75.00 and gave the company a sector perform rating in a research report on Monday, August 26th. Truist Financial boosted their price target on shares of Regency Centers from $70.00 to $78.00 and gave the stock a buy rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their price objective on Regency Centers from $71.00 to $77.00 and gave the company an overweight rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Regency Centers currently has an average rating of Moderate Buy and an average target price of $74.55.

Regency Centers Trading Up 1.4 %

REG opened at $72.69 on Wednesday. The stock has a market capitalization of $13.43 billion, a P/E ratio of 35.46, a P/E/G ratio of 4.35 and a beta of 1.21. 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 $72.89. The firm’s fifty day simple moving average is $66.76 and its 200 day simple moving average is $62.43.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results 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). The firm had revenue of $357.25 million during the quarter, compared to analyst estimates of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same period in the prior year, the business earned $1.03 EPS. As a group, research analysts anticipate that Regency Centers will post 4.23 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.67 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.68 annualized dividend and a yield of 3.69%. Regency Centers’s dividend payout ratio is 130.73%.

Insider Activity

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at $21,503,930. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Michael R. Herman sold 1,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the transaction, the vice president now owns 13,010 shares in the company, valued at $905,105.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were 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 owns 307,199 shares of the company’s stock, valued at $21,503,930. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

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

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.