Regency Centers Co. (NYSE:REG) has received an average recommendation of “Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $68.50.
Several research analysts have recently issued reports on the stock. BMO Capital Markets set a $68.00 target price on shares of Regency Centers and gave the company a “hold” rating in a research note on Thursday, January 11th. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a research note on Tuesday, January 16th. Jefferies Group set a $71.00 target price on shares of Regency Centers and gave the company a “hold” rating in a research note on Friday, January 12th. BTIG Research raised shares of Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Monday, January 29th. Finally, SunTrust Banks set a $67.00 target price on shares of Regency Centers and gave the company a “buy” rating in a research note on Friday, March 2nd.
Shares of NYSE REG traded up $0.07 during mid-day trading on Wednesday, hitting $56.19. The company’s stock had a trading volume of 127,879 shares, compared to its average volume of 1,132,660. The firm has a market capitalization of $9,584.99, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.11 and a beta of 0.47. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. Regency Centers has a one year low of $54.87 and a one year high of $70.64.
Regency Centers announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 8th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Bryce Blair bought 1,709 shares of the company’s stock in a transaction on Monday, March 5th. The shares were purchased at an average cost of $58.50 per share, for a total transaction of $99,976.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chaim Katzman sold 1,759,257 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $57.56, for a total transaction of $101,262,832.92. The disclosure for this sale can be found here. Insiders sold a total of 2,077,640 shares of company stock worth $121,684,475 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. ZWJ Investment Counsel Inc. acquired a new stake in Regency Centers during the 4th quarter worth approximately $201,000. Wetherby Asset Management Inc. acquired a new stake in Regency Centers during the 4th quarter worth approximately $213,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Regency Centers during the 4th quarter worth approximately $227,000. Parametrica Management Ltd acquired a new stake in Regency Centers during the 4th quarter worth approximately $229,000. Finally, Conning Inc. acquired a new stake in Regency Centers during the 4th quarter worth approximately $259,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.
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About Regency Centers
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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