Regency Centers Corp (REG) Receives $68.50 Consensus Target Price from Brokerages

Shares of Regency Centers Corp (NYSE:REG) have been assigned a consensus rating of “Buy” from the seventeen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $68.50.

REG has been the subject of several research reports. BMO Capital Markets set a $68.00 price objective on shares of Regency Centers and gave the company a “hold” rating in a report on Tuesday, May 1st. Zacks Investment Research raised shares of Regency Centers from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. Wells Fargo & Co reissued an “outperform” rating and set a $65.00 price objective (down previously from $76.00) on shares of Regency Centers in a report on Friday, March 2nd. Morgan Stanley initiated coverage on shares of Regency Centers in a report on Tuesday, March 27th. They set an “overweight” rating and a $65.00 price objective for the company. Finally, Robert W. Baird reissued a “buy” rating and set a $68.00 price objective on shares of Regency Centers in a report on Wednesday, March 21st.

In other news, insider H Craig Ramey sold 1,200 shares of the company’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $58.80, for a total transaction of $70,560.00. Following the sale, the insider now directly owns 17,137 shares in the company, valued at approximately $1,007,655.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bryce Blair bought 1,739 shares of the firm’s stock in a transaction dated Monday, March 19th. The shares were acquired at an average price of $57.50 per share, for a total transaction of $99,992.50. Following the completion of the transaction, the director now directly owns 10,842 shares in the company, valued at approximately $623,415. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.



Several hedge funds and other institutional investors have recently made changes to their positions in REG. APG Asset Management N.V. raised its position in shares of Regency Centers by 3.0% during the 4th quarter. APG Asset Management N.V. now owns 37,955 shares of the real estate investment trust’s stock valued at $2,187,000 after buying an additional 1,100 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in Regency Centers in the 4th quarter worth about $227,000. Mutual of America Capital Management LLC raised its position in Regency Centers by 11.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 36,032 shares of the real estate investment trust’s stock worth $2,493,000 after purchasing an additional 3,665 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Regency Centers by 40.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,288 shares of the real estate investment trust’s stock worth $5,001,000 after purchasing an additional 20,682 shares during the period. Finally, Aperio Group LLC raised its position in Regency Centers by 1.7% in the 4th quarter. Aperio Group LLC now owns 54,445 shares of the real estate investment trust’s stock worth $3,767,000 after purchasing an additional 934 shares during the period. Hedge funds and other institutional investors own 91.85% of the company’s stock.

Regency Centers stock traded up $0.80 during mid-day trading on Thursday, hitting $60.12. The stock had a trading volume of 62,424 shares, compared to its average volume of 1,217,434. The company has a market capitalization of $10.07 billion, a P/E ratio of 16.08, a P/E/G ratio of 2.22 and a beta of 0.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.19. Regency Centers has a one year low of $54.87 and a one year high of $70.64.

Regency Centers (NYSE:REG) last issued its earnings results on Monday, April 30th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.63). The firm had revenue of $269.54 million during the quarter, compared to the consensus estimate of $263.14 million. Regency Centers had a return on equity of 3.83% and a net margin of 23.85%. During the same period in the prior year, the company posted $0.90 EPS. analysts forecast that Regency Centers will post 3.79 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Wednesday, May 16th were given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Tuesday, May 15th. Regency Centers’s dividend payout ratio is 60.16%.

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.

Analyst Recommendations for Regency Centers (NYSE:REG)

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