Regency Centers Corporation (REG) Lowered to “Hold” at Jefferies Group LLC
Jefferies Group LLC lowered shares of Regency Centers Corporation (NYSE:REG) from a buy rating to a hold rating in a research report sent to investors on Friday. Jefferies Group LLC currently has $67.00 price target on the real estate investment trust’s stock, down from their prior price target of $74.00. Jefferies Group also issued estimates for Regency Centers Corporation’s Q4 2017 earnings at $0.92 EPS.
REG has been the subject of several other reports. Citigroup Inc. restated a neutral rating and set a $67.00 price target (down from $70.00) on shares of Regency Centers Corporation in a research note on Monday, July 10th. Royal Bank Of Canada restated a buy rating and set a $70.00 price target on shares of Regency Centers Corporation in a research note on Monday, June 19th. Robert W. Baird restated a buy rating and set a $72.00 price target on shares of Regency Centers Corporation in a research note on Thursday, August 24th. Boenning Scattergood lowered Regency Centers Corporation from a neutral rating to an under perform rating and set a $62.50 price target for the company. in a research note on Tuesday. Finally, BidaskClub upgraded Regency Centers Corporation from a sell rating to a hold rating in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $71.54.
Shares of Regency Centers Corporation (NYSE:REG) traded down 0.72% during trading on Friday, reaching $65.00. The company had a trading volume of 1,715,375 shares. The firm has a 50-day moving average of $65.31 and a 200 day moving average of $64.30. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 107.97 and a beta of 0.56. Regency Centers Corporation has a 52 week low of $58.63 and a 52 week high of $79.96.
Regency Centers Corporation (NYSE:REG) last announced its quarterly 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 company had revenue of $240.42 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $0.81 earnings per share. On average, equities research analysts forecast that Regency Centers Corporation will post $0.89 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Monday, August 14th. Regency Centers Corporation’s dividend payout ratio is presently 353.34%.
In other Regency Centers Corporation news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $64.30, for a total transaction of $67,885,239.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Lou Fiala sold 7,775 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 17,145 shares in the company, valued at approximately $1,127,112.30. The disclosure for this sale can be found here. Company insiders own 12.66% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in REG. IHT Wealth Management LLC bought a new position in Regency Centers Corporation during the 2nd quarter worth approximately $124,000. Perigon Wealth Management LLC lifted its holdings in shares of Regency Centers Corporation by 93.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,025 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Regency Centers Corporation in the 1st quarter worth approximately $176,000. Global X Management Co. LLC bought a new stake in shares of Regency Centers Corporation in the 2nd quarter worth approximately $179,000. Finally, Advisor Group Inc. lifted its holdings in shares of Regency Centers Corporation by 15.6% in the 2nd quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 404 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors.
Regency Centers Corporation Company Profile
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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