Regency Centers (NASDAQ:REG) Reaches New 52-Week High After Analyst Upgrade

Regency Centers Corporation (NASDAQ:REG)’s share price reached a new 52-week high during mid-day trading on Friday after Jefferies Financial Group upgraded the stock to a strong-buy rating. The company traded as high as $81.93 and last traded at $81.81, with a volume of 2578710 shares traded. The stock had previously closed at $80.25.

Several other research analysts have also issued reports on the stock. Truist Financial increased their target price on shares of Regency Centers from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Wells Fargo & Company upped their price objective on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Evercore set a $80.00 price objective on shares of Regency Centers in a research report on Friday, May 1st. Citigroup raised their target price on Regency Centers from $76.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Morgan Stanley boosted their target price on Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.27.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of Regency Centers stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total transaction of $626,708.62. Following the transaction, the insider owned 33,069 shares of the company’s stock, valued at $2,614,435.14. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terah L. Devereaux sold 1,240 shares of Regency Centers stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.14, for a total value of $99,373.60. Following the sale, the insider owned 17,990 shares in the company, valued at $1,441,718.60. This trade represents a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 283,782 shares of company stock worth $22,255,898. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pensionfund Sabic bought a new position in Regency Centers during the fourth quarter worth about $1,339,000. Azzad Asset Management Inc. ADV increased its stake in shares of Regency Centers by 68.6% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company’s stock worth $3,697,000 after purchasing an additional 21,799 shares in the last quarter. M&T Bank Corp raised its position in shares of Regency Centers by 168.6% in the fourth quarter. M&T Bank Corp now owns 25,931 shares of the company’s stock valued at $1,791,000 after purchasing an additional 16,277 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Regency Centers by 3.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 311,562 shares of the company’s stock valued at $21,507,000 after purchasing an additional 10,745 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Regency Centers by 2.8% during the 4th quarter. Legal & General Group Plc now owns 1,705,024 shares of the company’s stock valued at $117,698,000 after buying an additional 46,438 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

Regency Centers Stock Performance

The company’s fifty day moving average is $78.56 and its 200 day moving average is $75.38. The company has a market capitalization of $14.98 billion, a P/E ratio of 28.21, a P/E/G ratio of 3.47 and a beta of 0.81. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be given a dividend of $0.755 per share. The ex-dividend date is Friday, June 12th. This represents a $3.02 annualized dividend and a dividend yield of 3.7%. Regency Centers’s dividend payout ratio is currently 104.14%.

About Regency Centers

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.