Regency Centers (NASDAQ:REG) Stock Price Down 2% – Here’s What Happened

Regency Centers Co. (NASDAQ:REG) shares were down 2% during trading on Thursday . The company traded as low as $68.55 and last traded at $68.25. Approximately 163,606 shares traded hands during trading, a decline of 85% from the average daily volume of 1,070,889 shares. The stock had previously closed at $69.66.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore ISI cut their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Mizuho raised their target price 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. Finally, Wells Fargo & Company cut their target price on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and a consensus target price of $78.00.

Regency Centers Trading Down 1.7 %

The company has a market cap of $12.42 billion, a P/E ratio of 32.35, a PEG 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. The stock’s 50 day moving average is $72.77 and its 200-day moving average is $72.73.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating 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%. Research analysts anticipate that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

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

Insider Activity

In related news, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the sale, the chief executive officer now owns 139,923 shares of the company’s stock, valued at $10,250,758.98. The trade was a 15.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael J. Mas sold 20,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the transaction, the chief financial officer now directly owns 54,020 shares in the company, valued at approximately $3,975,872. This represents a 27.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock valued at $6,977,500 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its stake in shares of Regency Centers by 104.1% in the 4th quarter. Sanctuary Advisors LLC now owns 20,038 shares of the company’s stock worth $1,442,000 after purchasing an additional 10,221 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Regency Centers in the fourth quarter worth about $1,499,000. Pacer Advisors Inc. lifted its position in shares of Regency Centers by 196.1% during the 4th quarter. Pacer Advisors Inc. now owns 36,245 shares of the company’s stock valued at $2,680,000 after buying an additional 24,003 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Regency Centers by 47.3% during the 3rd quarter. HighTower Advisors LLC now owns 29,342 shares of the company’s stock valued at $2,121,000 after acquiring an additional 9,424 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Regency Centers in the 3rd quarter worth approximately $953,000. 96.07% of the stock is currently 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.