Regency Centers (NASDAQ:REG) Shares Up 1.1% – Still a Buy?

Regency Centers Co. (NASDAQ:REG)’s stock price shot up 1.1% during trading on Wednesday . The company traded as high as $74.19 and last traded at $74.38. 207,023 shares changed hands during trading, a decline of 80% from the average session volume of 1,050,568 shares. The stock had previously closed at $73.57.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Mizuho upped 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. Evercore ISI dropped their price target on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Regency Centers presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Regency Centers Stock Down 3.5 %

The company’s 50-day simple moving average is $73.29 and its 200 day simple moving average is $72.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The firm has a market cap of $13.09 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results 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 net margin of 27.54% and a return on equity of 5.91%. Research analysts anticipate that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, March 12th. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Buying and Selling at Regency Centers

In related news, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $10,250,758.98. This represents a 15.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the 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 transaction, the chairman now directly owns 110,263 shares in the company, valued at $8,102,125.24. The trade was a 31.20 % 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 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

Several hedge funds have recently modified their holdings of REG. Norges Bank bought a new position in shares of Regency Centers during the 4th quarter worth approximately $1,262,425,000. State Street Corp increased its position in shares of Regency Centers by 1.1% during the third quarter. State Street Corp now owns 11,768,052 shares of the company’s stock worth $857,892,000 after purchasing an additional 131,300 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Regency Centers by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock valued at $823,711,000 after purchasing an additional 51,424 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Regency Centers by 1.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock worth $771,859,000 after purchasing an additional 171,047 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Regency Centers by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock worth $678,873,000 after buying an additional 366,427 shares during 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.