Regency Centers (NASDAQ:REG) Price Target Cut to $79.00 by Analysts at Wells Fargo & Company

Regency Centers (NASDAQ:REG) had its price objective reduced by equities researchers at Wells Fargo & Company from $80.00 to $79.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.45% from the stock’s previous close.

A number of other research firms also recently commented on REG. Mizuho boosted their target price on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. BTIG Research boosted their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI dropped their target price on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Regency Centers Stock Performance

Shares of REG opened at $72.18 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66. Regency Centers has a 52-week low of $56.51 and a 52-week high of $78.18. The company has a 50-day simple moving average of $73.03 and a 200-day simple moving average of $73.00. The company has a market capitalization of $13.09 billion, a PE ratio of 34.05, a P/E/G ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last issued its earnings results 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%. Equities research analysts predict that Regency Centers will post 4.54 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of Regency Centers stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total value of $3,674,000.00. Following the completion of the sale, the chairman now owns 110,263 shares of the company’s stock, valued at $8,102,125.24. The trade was a 31.20 % 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 stock in a transaction dated 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 transaction, the chief executive officer now owns 139,923 shares in the company, valued at $10,250,758.98. This trade represents a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock valued at $6,977,500 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

Several hedge funds have recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new position in Regency Centers during the fourth quarter worth approximately $26,000. National Pension Service purchased a new stake in shares of Regency Centers during the 4th quarter valued at $27,000. TD Waterhouse Canada Inc. increased its holdings in shares of Regency Centers by 48,700.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company’s stock worth $36,000 after buying an additional 487 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Regency Centers in the 4th quarter worth $39,000. Finally, Ameriflex Group Inc. acquired a new position in Regency Centers in the fourth quarter valued at $53,000. 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.