Regency Centers (NASDAQ:REG) Trading Up 1.3% – Still a Buy?

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

Wall Street Analyst Weigh In

REG has been the subject of several analyst reports. Evercore ISI reduced their price objective on shares of 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. Wells Fargo & Company lowered their price objective on Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. BTIG Research boosted their target price on Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Mizuho increased their price target on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Three investment 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 data from MarketBeat.com, Regency Centers has a consensus rating of “Moderate Buy” and a consensus price target of $78.08.

Regency Centers Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. The company’s 50 day moving average is $72.97 and its 200 day moving average is $73.00. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. On average, research analysts forecast that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.705 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.90%. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Activity at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now directly owns 110,263 shares in the company, valued at approximately $8,102,125.24. This represents a 31.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. The trade was a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,000 shares of company stock worth $6,977,500. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Regency Centers

Several institutional investors and hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA raised its holdings in Regency Centers by 4.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company’s stock worth $244,000 after purchasing an additional 141 shares during the last quarter. State of Wyoming grew its position in shares of Regency Centers by 11.3% during the 4th quarter. State of Wyoming now owns 1,543 shares of the company’s stock worth $114,000 after buying an additional 157 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Regency Centers by 4.3% in the third quarter. Coldstream Capital Management Inc. now owns 3,950 shares of the company’s stock valued at $286,000 after buying an additional 163 shares during the period. Smartleaf Asset Management LLC boosted its stake in Regency Centers by 3.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,845 shares of the company’s stock valued at $356,000 after acquiring an additional 164 shares during the last quarter. Finally, Greenleaf Trust raised its position in shares of Regency Centers by 3.8% during the 4th quarter. Greenleaf Trust now owns 4,735 shares of the company’s stock valued at $350,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds 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.