Wells Fargo & Company Cuts Regency Centers (NASDAQ:REG) Price Target to $80.00

Regency Centers (NASDAQ:REG) had its target price decreased by Wells Fargo & Company from $81.00 to $80.00 in a research report sent to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research firms also recently issued reports on REG. Evercore ISI cut their price objective 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. KeyCorp initiated coverage on shares of Regency Centers in a research report on Friday, October 25th. They issued an “overweight” rating and a $80.00 price target for the company. BTIG Research lifted 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. JPMorgan Chase & Co. raised their target price on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Mizuho upped their price target on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Regency Centers currently has an average rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Stock Performance

REG opened at $71.84 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The firm has a market cap of $13.04 billion, a PE ratio of 33.73, a P/E/G ratio of 3.69 and a beta of 1.22. The business has a fifty day simple moving average of $73.09 and a 200-day simple moving average of $71.89. Regency Centers has a fifty-two week low of $56.51 and a fifty-two week high of $76.53.

Regency Centers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 16th were paid a $0.705 dividend. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 dividend on an annualized basis and a yield of 3.93%. Regency Centers’s payout ratio is 132.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of REG. Heck Capital Advisors LLC bought a new position in Regency Centers during the fourth quarter valued at about $26,000. Catalyst Capital Advisors LLC bought a new stake in Regency Centers during the fourth quarter worth approximately $54,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Regency Centers by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the company’s stock worth $58,000 after purchasing an additional 600 shares during the period. Venturi Wealth Management LLC raised its position in shares of Regency Centers by 4,400.0% in the fourth quarter. Venturi Wealth Management LLC now owns 855 shares of the company’s stock valued at $63,000 after purchasing an additional 836 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of Regency Centers by 84.8% in the third quarter. Quest Partners LLC now owns 937 shares of the company’s stock worth $68,000 after buying an additional 430 shares during the last quarter. 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.