Regency Centers (NASDAQ:REG) Shares Down 1.1% – Here’s Why

Regency Centers Co. (NASDAQ:REG) shares fell 1.1% on Wednesday . The stock traded as low as $71.98 and last traded at $72.22. 139,629 shares traded hands during trading, a decline of 86% from the average session volume of 1,006,696 shares. The stock had previously closed at $73.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on REG shares. Evercore ISI cut 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 report on Tuesday, December 24th. BTIG Research raised their target price on Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lowered their price target on Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Mizuho lifted their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Three investment 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 stock. Based on data from MarketBeat.com, Regency Centers presently has an average rating of “Moderate Buy” and an average price target of $78.08.

Regency Centers Stock Performance

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 $13.09 billion, a P/E ratio of 34.04, a PEG ratio of 3.75 and a beta of 1.23. The business has a 50-day moving average price of $72.92 and a 200 day moving average price of $73.04.

Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, topping the consensus estimate 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 forecast that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.705 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a yield of 3.91%. Regency Centers’s dividend payout ratio (DPR) is 133.02%.

Insiders Place Their Bets

In other Regency Centers news, CFO Michael J. Mas sold 20,000 shares of the firm’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 transaction, the chief financial officer now directly owns 54,020 shares of the company’s stock, valued at approximately $3,975,872. This trade represents a 27.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa Palmer sold 25,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the sale, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at $10,250,758.98. The trade was a 15.16 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regency Centers

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Regency Centers in the 4th quarter worth $1,262,425,000. State Street Corp increased its position in Regency Centers by 1.1% in the third quarter. State Street Corp now owns 11,768,052 shares of the company’s stock worth $857,892,000 after buying an additional 131,300 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Regency Centers by 0.5% in the fourth quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock worth $823,711,000 after buying an additional 51,424 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Regency Centers by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock valued at $771,859,000 after buying an additional 171,047 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Regency Centers by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock valued at $678,873,000 after acquiring an additional 366,427 shares during the period. Institutional investors own 96.07% of the company’s stock.

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.