Regency Centers Corporation (NASDAQ:REG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Regency Centers Corporation (NASDAQ:REG) has been assigned an average rating of “Moderate Buy” from the twenty research firms that are currently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $82.9375.

REG has been the topic of several research reports. Jefferies Financial Group upgraded Regency Centers to a “strong-buy” rating in a report on Friday, June 26th. Barclays lifted their target price on shares of Regency Centers from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Scotiabank boosted their target price on shares of Regency Centers from $76.00 to $82.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 24th. Morgan Stanley upped their price target on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regency Centers in a research note on Friday, May 29th.

Insider Activity at Regency Centers

In related news, insider Terah L. Devereaux sold 1,240 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the completion of the transaction, the insider directly owned 17,990 shares of the company’s stock, valued at $1,441,718.60. This trade represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of Regency Centers stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. The disclosure for this sale is available in the SEC filing. Insiders sold 283,782 shares of company stock worth $22,255,898 over the last three months. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

A number of hedge funds and other institutional investors have recently made changes to their positions in REG. Legacy Wealth Asset Management LLC boosted its holdings in Regency Centers by 31.6% in the second quarter. Legacy Wealth Asset Management LLC now owns 3,642 shares of the company’s stock valued at $290,000 after acquiring an additional 874 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Regency Centers by 541.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 481 shares of the company’s stock worth $38,000 after purchasing an additional 406 shares during the period. Czech National Bank lifted its position in shares of Regency Centers by 4.6% in the 2nd quarter. Czech National Bank now owns 46,905 shares of the company’s stock worth $3,740,000 after purchasing an additional 2,074 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Regency Centers by 344.0% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 22,155 shares of the company’s stock valued at $1,769,000 after purchasing an additional 17,165 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Regency Centers by 5.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,311 shares of the company’s stock valued at $423,000 after purchasing an additional 270 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Trading Down 0.4%

Shares of REG stock opened at $79.44 on Friday. Regency Centers has a twelve month low of $66.86 and a twelve month high of $81.93. The stock’s fifty day simple moving average is $78.56 and its 200 day simple moving average is $76.22. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $14.55 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.38 and a beta of 0.80.

Regency Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a $0.755 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.02 annualized dividend and a dividend yield of 3.8%. Regency Centers’s payout ratio is currently 104.14%.

Regency Centers Company Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.