Robert W. Baird restated their buy rating on shares of Regency Centers Corporation (NYSE:REG) in a research report report published on Thursday morning. Robert W. Baird currently has a $72.00 price objective on the real estate investment trust’s stock.
Several other research firms also recently commented on REG. BidaskClub upgraded Regency Centers Corporation from a hold rating to a buy rating in a research report on Tuesday, August 1st. Citigroup Inc. set a $70.00 target price on Regency Centers Corporation and gave the stock a hold rating in a research report on Monday, August 14th. Barclays PLC reiterated an equal weight rating and issued a $73.00 price objective (up previously from $72.00) on shares of Regency Centers Corporation in a research report on Monday, July 10th. Royal Bank Of Canada upgraded Regency Centers Corporation from an outperform rating to a top pick rating and lifted their price objective for the company from $72.00 to $75.00 in a research report on Thursday, August 17th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $74.00 price objective on shares of Regency Centers Corporation in a research report on Monday, July 17th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Regency Centers Corporation currently has an average rating of Buy and a consensus price target of $74.30.
Regency Centers Corporation (NYSE REG) traded up 0.75% during trading on Thursday, reaching $65.75. 766,083 shares of the company were exchanged. The stock has a market capitalization of $11.16 billion, a PE ratio of 109.22 and a beta of 0.56. Regency Centers Corporation has a 52-week low of $58.63 and a 52-week high of $82.44. The firm’s 50 day moving average is $65.02 and its 200 day moving average is $64.90.
Regency Centers Corporation (NYSE:REG) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.03. The business had revenue of $240.42 million during the quarter, compared to the consensus estimate of $248.50 million. Regency Centers Corporation had a return on equity of 2.20% and a net margin of 13.19%. During the same quarter last year, the company earned $0.81 EPS. Analysts expect that Regency Centers Corporation will post $0.92 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be given a $0.53 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.12 annualized dividend and a yield of 3.22%. Regency Centers Corporation’s payout ratio is 353.34%.
In other news, Director Mary Lou Fiala sold 7,775 shares of Regency Centers Corporation stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $65.74, for a total value of $511,128.50. Following the completion of the sale, the director now directly owns 17,145 shares of the company’s stock, valued at approximately $1,127,112.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider H Craig Ramey sold 1,048 shares of Regency Centers Corporation stock in a transaction on Friday, June 9th. The shares were sold at an average price of $62.17, for a total value of $65,154.16. Following the completion of the sale, the insider now directly owns 15,769 shares of the company’s stock, valued at $980,358.73. The disclosure for this sale can be found here. 12.66% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Regency Centers Corporation by 4,387.0% in the first quarter. BlackRock Inc. now owns 14,817,817 shares of the real estate investment trust’s stock valued at $983,755,000 after buying an additional 14,487,580 shares during the period. Vanguard Group Inc. boosted its stake in Regency Centers Corporation by 59.5% in the first quarter. Vanguard Group Inc. now owns 25,851,494 shares of the real estate investment trust’s stock valued at $1,716,282,000 after buying an additional 9,643,138 shares during the period. State Street Corp boosted its stake in Regency Centers Corporation by 61.9% in the first quarter. State Street Corp now owns 8,575,865 shares of the real estate investment trust’s stock valued at $569,344,000 after buying an additional 3,280,070 shares during the period. Daiwa Securities Group Inc. boosted its stake in Regency Centers Corporation by 109.7% in the second quarter. Daiwa Securities Group Inc. now owns 5,350,352 shares of the real estate investment trust’s stock valued at $335,146,000 after buying an additional 2,799,040 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Regency Centers Corporation by 82.4% in the first quarter. Principal Financial Group Inc. now owns 4,940,581 shares of the real estate investment trust’s stock valued at $328,071,000 after buying an additional 2,231,928 shares during the period. 88.89% of the stock is owned by institutional investors.
About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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