Regency Centers (NASDAQ:REG) Shares Down 0.7% – Should You Sell?

Regency Centers Co. (NASDAQ:REG)’s share price was down 0.7% during trading on Wednesday . The stock traded as low as $63.44 and last traded at $65.03. Approximately 482,803 shares traded hands during trading, a decline of 55% from the average daily volume of 1,070,545 shares. The stock had previously closed at $65.48.

Analysts Set New Price Targets

REG has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Mizuho increased their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Finally, Evercore ISI cut their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Regency Centers Stock Up 4.6 %

The firm has a fifty day moving average price of $72.86 and a 200 day moving average price of $72.77. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 3.75 and a beta of 1.03. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

Regency Centers (NASDAQ:REG) last announced its earnings results on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. Sell-side analysts anticipate that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.705 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $2.82 annualized dividend and a dividend yield of 4.12%. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Buying and Selling at Regency Centers

In related news, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the transaction, the chief executive officer now directly owns 139,923 shares in the company, valued at approximately $10,250,758.98. This trade represents a 15.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael J. Mas sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,000 shares of company stock valued at $6,977,500. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Regency Centers

A number of large investors have recently made changes to their positions in REG. Norges Bank bought a new position in shares of Regency Centers in the 4th quarter valued at $1,262,425,000. Invesco Ltd. lifted its stake in shares of Regency Centers by 121.2% in the fourth 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. Northern Trust Corp increased its position in shares of Regency Centers by 64.1% during the fourth quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock worth $205,645,000 after buying an additional 1,086,797 shares during the period. Prudential Financial Inc. grew its holdings in Regency Centers by 51.7% during the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock worth $159,363,000 after acquiring an additional 734,210 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Regency Centers by 137.2% in the fourth quarter. California Public Employees Retirement System now owns 776,521 shares of the company’s stock worth $57,408,000 after purchasing an additional 449,110 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Regency Centers Company Profile

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.