KeyCorp Begins Coverage on Regency Centers (NASDAQ:REG)

KeyCorp started coverage on shares of Regency Centers (NASDAQ:REG) in a research report released on Friday, Marketbeat reports. The firm issued an overweight rating and a $80.00 price objective on the stock.

A number of other equities analysts have also commented on the stock. Scotiabank raised their price objective 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. Deutsche Bank Aktiengesellschaft lowered shares of Regency Centers from a “buy” rating to a “hold” rating and lifted their target price for the company from $70.00 to $75.00 in a research report on Thursday, September 26th. Raymond James lifted their target price on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Truist Financial lifted their price target on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.55.

Regency Centers Stock Performance

NASDAQ REG traded down $0.99 during trading hours on Friday, reaching $71.01. 512,403 shares of the company were exchanged, compared to its average volume of 1,084,822. Regency Centers has a 1 year low of $56.51 and a 1 year high of $75.26. The business’s 50 day simple moving average is $72.03 and its 200-day simple moving average is $65.68. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $13.12 billion, a P/E ratio of 34.64, a P/E/G ratio of 4.48 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). The business had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. During the same quarter in the prior year, the business earned $1.03 EPS. On average, equities research analysts expect that Regency Centers will post 4.24 earnings per share for the current year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, September 12th. Regency Centers’s payout ratio is 130.73%.

Insider Buying and Selling

In related news, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the transaction, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 transaction of $1,750,000.00. Following the sale, the chairman now owns 307,199 shares in the company, valued at approximately $21,503,930. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the sale, the vice president now owns 13,010 shares in the company, valued at approximately $905,105.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Trading of Regency Centers

Hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Regency Centers by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 312,155 shares of the company’s stock valued at $18,904,000 after buying an additional 49,188 shares in the last quarter. FORA Capital LLC boosted its stake in Regency Centers by 493.7% in the 1st quarter. FORA Capital LLC now owns 25,061 shares of the company’s stock worth $1,518,000 after purchasing an additional 20,840 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Regency Centers by 10.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock worth $547,995,000 after purchasing an additional 873,062 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Regency Centers by 14.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 116,726 shares of the company’s stock worth $6,998,000 after purchasing an additional 14,410 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Regency Centers by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 309,182 shares of the company’s stock worth $18,725,000 after purchasing an additional 15,621 shares in the last quarter. Institutional investors 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.