Regency Centers (NASDAQ:REG) Reaches New 1-Year High – Here’s What Happened

Shares of Regency Centers Co. (NASDAQ:REG) reached a new 52-week high on Wednesday . The stock traded as high as $75.92 and last traded at $75.75, with a volume of 22766 shares. The stock had previously closed at $75.00.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on REG. Evercore ISI raised shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank upped their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Truist Financial upped their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a “buy” rating to a “hold” rating and upped their price objective for the stock from $70.00 to $75.00 in a report on Thursday, September 26th. Finally, Raymond James upped their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $76.92.

Regency Centers Trading Up 1.2 %

The company has a fifty day simple moving average of $72.37 and a 200-day simple moving average of $68.04. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 4.08 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.50). Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. The company had revenue of $360.27 million for the quarter, compared to analyst estimates of $355.17 million. During the same quarter in the previous year, the firm posted $1.02 EPS. On average, research analysts forecast that Regency Centers Co. will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is 125.82%.

Hedge Funds Weigh In On Regency Centers

Several institutional investors and hedge funds have recently bought and sold shares of the business. Glenmede Trust Co. NA grew its stake in Regency Centers by 4.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company’s stock valued at $244,000 after acquiring an additional 141 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Regency Centers by 3.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,744 shares of the company’s stock valued at $295,000 after buying an additional 152 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Regency Centers by 4.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,950 shares of the company’s stock valued at $286,000 after buying an additional 163 shares in the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Regency Centers by 4.3% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 4,543 shares of the company’s stock valued at $328,000 after buying an additional 189 shares in the last quarter. Finally, Tectonic Advisors LLC grew its stake in shares of Regency Centers by 3.0% in the 3rd quarter. Tectonic Advisors LLC now owns 6,941 shares of the company’s stock valued at $501,000 after buying an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

About Regency Centers

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.