Regency Centers (NASDAQ:REG) Stock Price Down 0.3% – Here’s What Happened

Regency Centers Co. (NASDAQ:REG) shares dropped 0.3% during mid-day trading on Friday . The stock traded as low as $71.90 and last traded at $72.16. Approximately 59,281 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 999,072 shares. The stock had previously closed at $72.39.

Wall Street Analyst Weigh In

REG has been the subject of several research analyst reports. Mizuho upped their price target on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Evercore ISI reduced their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.00.

Regency Centers Stock Up 0.7 %

The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $73.12 and a two-hundred day moving average price of $72.96. The company has a market capitalization of $13.22 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. As a group, sell-side analysts expect that Regency Centers Co. will post 4.54 earnings per share for the current year.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.705 per share. The ex-dividend date is Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a yield of 3.87%. Regency Centers’s dividend payout ratio (DPR) is 133.02%.

Insider Transactions at Regency Centers

In other Regency Centers news, CFO Michael J. Mas sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the completion of the sale, the chief financial officer now owns 54,020 shares in the company, valued at $3,975,872. The trade was a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the transaction, the chairman now owns 110,263 shares in the company, valued at approximately $8,102,125.24. The trade was a 31.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,000 shares of company stock valued at $6,977,500. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

Several institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Regency Centers in the fourth quarter worth $1,262,425,000. Invesco Ltd. increased its holdings in shares of Regency Centers by 121.2% in the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock worth $397,333,000 after acquiring an additional 2,944,854 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Regency Centers by 1,138.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock valued at $149,932,000 after purchasing an additional 1,908,153 shares during the last quarter. Northern Trust Corp boosted its stake in Regency Centers by 64.1% during the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock valued at $205,645,000 after purchasing an additional 1,086,797 shares during the period. Finally, Prudential Financial Inc. grew its position in Regency Centers by 51.7% in the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock worth $159,363,000 after purchasing an additional 734,210 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

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.