Wells Fargo & Company Upgrades Regency Centers (NASDAQ:REG) to “Strong-Buy”

Regency Centers (NASDAQ:REG) was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

REG has been the subject of a number of other reports. Barclays increased their target price on shares of Regency Centers from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regency Centers in a report on Friday, May 29th. BTIG Research reissued a “buy” rating and set a $85.00 target price on shares of Regency Centers in a research note on Friday, June 12th. Morgan Stanley upped their target price on Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Finally, Citigroup lifted their price target on shares of Regency Centers from $76.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and a consensus target price of $83.06.

Regency Centers Trading Up 1.2%

Shares of REG opened at $82.15 on Thursday. The stock has a market capitalization of $15.04 billion, a P/E ratio of 28.33, a PEG ratio of 3.44 and a beta of 0.80. Regency Centers has a twelve month low of $66.86 and a twelve month high of $83.66. 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 fifty day simple moving average of $79.35 and a two-hundred day simple moving average of $77.11.

Insider Activity

In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the transaction, the insider owned 33,069 shares in the company, valued at approximately $2,614,435.14. The trade was a 19.34% decrease in their position. 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. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regency Centers

A number of institutional investors have recently made changes to their positions in REG. Havemeyer Place LP purchased a new position in Regency Centers in the 4th quarter worth approximately $26,000. Brown Brothers Harriman & Co. lifted its position in Regency Centers by 63.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock valued at $30,000 after acquiring an additional 157 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Regency Centers during the 2nd quarter valued at $31,000. Hantz Financial Services Inc. boosted its stake in Regency Centers by 388.9% during the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $30,000 after purchasing an additional 350 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings 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 in the last quarter. Hedge funds and other institutional investors 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.