Regency Centers (NASDAQ:REG) Trading 0.7% Higher – Here’s Why

Regency Centers Co. (NASDAQ:REG)’s share price shot up 0.7% on Wednesday . The stock traded as high as $73.04 and last traded at $72.68. 58,811 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 1,002,353 shares. The stock had previously closed at $72.18.

Analyst Upgrades and Downgrades

A number of research analysts have commented on REG shares. Evercore ISI reduced their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Wells Fargo & Company reduced their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Mizuho boosted their target price on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Three 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. According to MarketBeat, Regency Centers presently has an average rating of “Moderate Buy” and an average price target of $78.00.

Regency Centers Stock Up 0.7 %

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 firm’s 50-day moving average price is $73.08 and its 200 day moving average price is $72.99. The firm has a market cap of $13.22 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23.

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

Regency Centers Announces Dividend

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

Insider Buying and Selling at Regency Centers

In related news, CFO Michael J. Mas sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the sale, the chief financial officer now owns 54,020 shares of the company’s stock, valued at $3,975,872. The trade was a 27.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the sale, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. This represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,000 shares of company stock valued at $6,977,500 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in Regency Centers during the fourth quarter valued at approximately $1,262,425,000. Invesco Ltd. lifted its position in shares of Regency Centers by 121.2% during the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock valued at $397,333,000 after acquiring an additional 2,944,854 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Regency Centers by 1,138.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock valued at $149,932,000 after acquiring an additional 1,908,153 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Regency Centers by 64.1% in the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock worth $205,645,000 after acquiring an additional 1,086,797 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Regency Centers by 51.7% during the fourth quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock worth $159,363,000 after purchasing an additional 734,210 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

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.