Regency Centers (NASDAQ:REG) Trading 0.1% Higher – Still a Buy?

Regency Centers Co. (NASDAQ:REG)’s share price shot up 0.1% during trading on Thursday . The company traded as high as $72.50 and last traded at $72.18. 139,733 shares traded hands during trading, a decline of 86% from the average session volume of 1,000,584 shares. The stock had previously closed at $72.08.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on REG. Evercore ISI lowered their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Mizuho boosted their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their price target on Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, BTIG Research upped their price target on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Price Performance

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 $13.03 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. The company has a fifty day simple moving average of $72.88 and a two-hundred day simple moving average of $73.02.

Regency Centers (NASDAQ:REG) last posted its earnings results on Thursday, February 6th. The company reported $1.09 earnings per share 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%. On average, equities research analysts anticipate that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s payout ratio is currently 133.02%.

Insiders Place Their Bets

In related news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 110,263 shares in the company, valued at approximately $8,102,125.24. This trade represents a 31.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lisa Palmer sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the sale, the chief executive officer now owns 139,923 shares in the company, valued at approximately $10,250,758.98. The trade was a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,000 shares of company stock valued at $6,977,500. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

Hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC raised its holdings in shares of Regency Centers by 104.1% during the 4th quarter. Sanctuary Advisors LLC now owns 20,038 shares of the company’s stock valued at $1,442,000 after buying an additional 10,221 shares during the period. Pacer Advisors Inc. increased its holdings in Regency Centers by 196.1% during the 4th quarter. Pacer Advisors Inc. now owns 36,245 shares of the company’s stock worth $2,680,000 after purchasing an additional 24,003 shares during the last quarter. Trustmark National Bank Trust Department acquired a new position in shares of Regency Centers in the 3rd quarter valued at approximately $719,000. HighTower Advisors LLC raised its position in shares of Regency Centers by 47.3% in the 3rd quarter. HighTower Advisors LLC now owns 29,342 shares of the company’s stock valued at $2,121,000 after purchasing an additional 9,424 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its position in shares of Regency Centers by 9.3% during the third quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company’s stock worth $7,615,000 after buying an additional 8,959 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other 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.