Regency Centers (NASDAQ:REG) Shares Up 2% – Time to Buy?

Regency Centers Co. (NASDAQ:REG) rose 2% on Thursday . The stock traded as high as $71.76 and last traded at $71.61. Approximately 98,551 shares changed hands during trading, a decline of 91% from the average daily volume of 1,056,067 shares. The stock had previously closed at $70.21.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on REG. Mizuho raised their target price on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Finally, Evercore ISI reduced their price target on shares of 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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Regency Centers presently has an average rating of “Moderate Buy” and an average target price of $78.00.

Regency Centers Price Performance

The company has a fifty day simple moving average of $72.48 and a 200 day simple moving average of $72.65. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of 33.94, a P/E/G ratio of 3.75 and a beta of 1.03.

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

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.705 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a yield of 3.92%. Regency Centers’s payout ratio is currently 133.02%.

Insiders Place Their Bets

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total value of $3,674,000.00. Following the completion of the sale, the chairman now owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. This trade represents a 31.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Mas sold 20,000 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 54,020 shares in the company, valued at approximately $3,975,872. This represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,000 shares of company stock worth $6,977,500. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

A number of institutional investors and hedge funds have recently bought and sold shares of REG. State of Wyoming grew its position in Regency Centers by 11.3% in the 4th quarter. State of Wyoming now owns 1,543 shares of the company’s stock worth $114,000 after purchasing an additional 157 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Regency Centers by 3.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,845 shares of the company’s stock valued at $356,000 after acquiring an additional 164 shares during the last quarter. Greenleaf Trust lifted its holdings in Regency Centers by 3.8% during the fourth quarter. Greenleaf Trust now owns 4,735 shares of the company’s stock worth $350,000 after acquiring an additional 172 shares during the period. Farther Finance Advisors LLC boosted its position in Regency Centers by 27.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,003 shares of the company’s stock worth $74,000 after purchasing an additional 219 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Regency Centers by 7.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,395 shares of the company’s stock valued at $251,000 after purchasing an additional 244 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other 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.