Regency Centers Corp (REG) Receives $71.33 Average Target Price from Analysts
Regency Centers Corp (NYSE:REG) has been given an average rating of “Buy” by the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $69.67.
A number of brokerages have recently commented on REG. SunTrust Banks set a $67.00 price target on Regency Centers and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Co reaffirmed an “outperform” rating and set a $65.00 target price (down from $76.00) on shares of Regency Centers in a research report on Friday. Jefferies Group set a $64.00 target price on Regency Centers and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Zacks Investment Research lowered Regency Centers from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a research report on Monday, February 12th.
Shares of Regency Centers (REG) traded up $0.60 on Tuesday, hitting $58.93. The stock had a trading volume of 1,334,802 shares, compared to its average volume of 1,356,111. Regency Centers has a one year low of $54.87 and a one year high of $70.64. The company has a market cap of $10,064.89, a PE ratio of 67.74, a price-to-earnings-growth ratio of 2.21 and a beta of 0.49. The company has a quick ratio of 0.63, a current ratio of 0.94 and a debt-to-equity ratio of 0.53.
Regency Centers declared that its board has authorized a stock buyback program on Thursday, February 8th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were given a $0.555 dividend. The ex-dividend date was Friday, February 16th. This is a positive change from Regency Centers’s previous quarterly dividend of $0.38. This represents a $2.22 annualized dividend and a dividend yield of 3.77%. Regency Centers’s dividend payout ratio (DPR) is 255.17%.
In other news, VP James D. Thompson sold 14,983 shares of Regency Centers stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $68.45, for a total value of $1,025,586.35. Following the completion of the transaction, the vice president now directly owns 48,976 shares of the company’s stock, valued at approximately $3,352,407.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO J Christian Leavitt sold 2,000 shares of Regency Centers stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $67.61, for a total value of $135,220.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,314 shares of the company’s stock, valued at $967,769.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,365,155 shares of company stock valued at $140,381,212. Corporate insiders own 12.66% of the company’s stock.
Several hedge funds have recently bought and sold shares of REG. Xact Kapitalforvaltning AB grew its stake in shares of Regency Centers by 2.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 75,555 shares of the real estate investment trust’s stock valued at $5,227,000 after buying an additional 1,856 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Regency Centers in the 4th quarter valued at about $3,167,000. Gotham Asset Management LLC grew its stake in shares of Regency Centers by 11.3% in the 4th quarter. Gotham Asset Management LLC now owns 22,519 shares of the real estate investment trust’s stock valued at $1,558,000 after buying an additional 2,289 shares during the period. Macquarie Group Ltd. grew its stake in shares of Regency Centers by 9.5% in the 4th quarter. Macquarie Group Ltd. now owns 468,067 shares of the real estate investment trust’s stock valued at $29,725,000 after buying an additional 40,732 shares during the period. Finally, Verition Fund Management LLC grew its stake in shares of Regency Centers by 104.3% in the 4th quarter. Verition Fund Management LLC now owns 11,571 shares of the real estate investment trust’s stock valued at $800,000 after buying an additional 5,906 shares during the period. 91.74% of the stock is owned by hedge funds and other institutional investors.
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Regency Centers 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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