Regency Centers Co. (NASDAQ:REG) Short Interest Update

Regency Centers Co. (NASDAQ:REG) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 4,920,000 shares, a growth of 23.0% from the November 30th total of 4,000,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 4.7 days.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. KeyCorp assumed coverage on Regency Centers in a research note on Friday, October 25th. They issued an “overweight” rating and a $80.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut Regency Centers from a “buy” rating to a “hold” rating and boosted their target price for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. Compass Point raised their price target on shares of Regency Centers from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI cut their price objective on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.42.

Regency Centers Price Performance

Shares of Regency Centers stock traded up $0.52 during trading hours on Tuesday, hitting $73.93. The company’s stock had a trading volume of 1,020,327 shares, compared to its average volume of 1,106,071. The company has a market cap of $13.42 billion, a PE ratio of 34.71, a PEG ratio of 4.16 and a beta of 1.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50 day moving average price of $73.86 and a two-hundred day moving average price of $70.51. Regency Centers has a 12-month low of $56.51 and a 12-month high of $76.53.

Regency Centers (NASDAQ:REG) last posted its earnings results on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.50). The company had revenue of $360.27 million for the quarter, compared to analysts’ expectations of $355.17 million. Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. During the same period in the previous year, the business posted $1.02 earnings per share. Analysts expect that Regency Centers will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be paid a $0.705 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.82 annualized dividend and a dividend yield of 3.81%. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio is currently 132.39%.

Institutional Trading of Regency Centers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REG. JPMorgan Chase & Co. grew its stake in Regency Centers by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock worth $801,056,000 after acquiring an additional 435,932 shares in the last quarter. Franklin Resources Inc. boosted its position in Regency Centers by 6.3% during the third quarter. Franklin Resources Inc. now owns 278,647 shares of the company’s stock valued at $19,703,000 after purchasing an additional 16,617 shares in the last quarter. Tidal Investments LLC raised its holdings in Regency Centers by 17.8% in the third quarter. Tidal Investments LLC now owns 7,417 shares of the company’s stock worth $536,000 after purchasing an additional 1,120 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Regency Centers during the third quarter valued at about $782,000. Finally, Sanctuary Advisors LLC raised its stake in shares of Regency Centers by 26.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 9,817 shares of the company’s stock worth $729,000 after acquiring an additional 2,042 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.