Regency Centers (NASDAQ:REG) Trading 1.3% Higher – Here’s What Happened

Shares of Regency Centers Co. (NASDAQ:REG) were up 1.3% during mid-day trading on Monday . The stock traded as high as $72.52 and last traded at $72.46. Approximately 214,922 shares were traded during trading, a decline of 79% from the average daily volume of 1,001,942 shares. The stock had previously closed at $71.50.

Analyst Upgrades and Downgrades

REG has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Mizuho lifted their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their target price on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, BTIG Research upped their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.08.

Regency Centers Stock Down 0.4 %

The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $73.03 and its 200-day moving average price is $73.00. The company has a market cap of $13.09 billion, a P/E ratio of 34.05, a PEG ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. As a group, research analysts forecast that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.705 per share. The ex-dividend date is Wednesday, March 12th. This represents a $2.82 annualized dividend and a yield of 3.91%. Regency Centers’s payout ratio is 133.02%.

Insider Activity

In other news, CFO Michael J. Mas sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the sale, the chief financial officer now owns 54,020 shares in the company, valued at $3,975,872. This represents a 27.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the sale, the chief executive officer now owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. This represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,000 shares of company stock worth $6,977,500 over the last three months. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regency Centers

Several institutional investors and hedge funds have recently added to or reduced their stakes in REG. Norges Bank bought a new position in shares of Regency Centers in the fourth quarter valued at approximately $1,262,425,000. Invesco Ltd. increased 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 purchasing an additional 2,944,854 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $149,932,000 after purchasing an additional 1,908,153 shares during the period. Northern Trust Corp raised its stake in shares of Regency Centers by 64.1% during the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock worth $205,645,000 after purchasing an additional 1,086,797 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Regency Centers by 51.7% in the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock worth $159,363,000 after buying an additional 734,210 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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.