Regency Centers (NASDAQ:REG) Upgraded to Hold at Citigroup

Citigroup upgraded shares of Regency Centers (NASDAQ:REG) to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other brokerages also recently commented on REG. Morgan Stanley reissued an “overweight” rating and set a $85.00 target price on shares of Regency Centers in a research note on Monday, January 5th. Wells Fargo & Company lifted their price target on shares of Regency Centers from $81.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Mizuho reiterated a “neutral” rating and set a $74.00 price objective (down from $77.00) on shares of Regency Centers in a research report on Friday, January 9th. Royal Bank Of Canada upgraded shares of Regency Centers to a “sector perform” rating in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Regency Centers from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.79.

Regency Centers Trading Down 0.8%

Shares of REG opened at $76.47 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.20 and a current ratio of 1.05. Regency Centers has a 52-week low of $63.44 and a 52-week high of $78.18. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.86 and a beta of 0.94. The business’s fifty day moving average is $70.40 and its 200-day moving average is $70.99.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, March 11th. Regency Centers’s payout ratio is presently 107.86%.

Hedge Funds Weigh In On Regency Centers

A number of hedge funds have recently modified their holdings of REG. Norges Bank acquired a new stake in Regency Centers in the fourth quarter valued at $1,183,667,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Regency Centers in the third quarter valued at about $107,144,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of Regency Centers during the fourth quarter worth about $56,480,000. Goldman Sachs Group Inc. lifted its stake in shares of Regency Centers by 75.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company’s stock worth $124,680,000 after acquiring an additional 775,609 shares during the period. Finally, Amundi lifted its stake in shares of Regency Centers by 91.4% in the second quarter. Amundi now owns 1,530,276 shares of the company’s stock worth $108,344,000 after acquiring an additional 730,730 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.