Regency Centers (NASDAQ:REG) Upgraded by Wells Fargo & Company to “Strong-Buy” Rating

Regency Centers (NASDAQ:REG) was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. UBS Group raised their target price on Regency Centers from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Raymond James Financial restated an “outperform” rating and set a $88.00 price target on shares of Regency Centers in a research report on Monday, June 29th. Jefferies Financial Group raised shares of Regency Centers to a “strong-buy” rating in a report on Friday, June 26th. Barclays lifted their price objective on shares of Regency Centers from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Finally, Evercore set a $81.00 target price on shares of Regency Centers in a research note on Tuesday, July 7th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Regency Centers has a consensus rating of “Moderate Buy” and an average price target of $83.06.

Regency Centers Trading Up 1.2%

NASDAQ:REG opened at $82.15 on Thursday. The firm has a market capitalization of $15.04 billion, a P/E ratio of 28.33, a P/E/G ratio of 3.44 and a beta of 0.80. The business has a 50 day simple moving average of $79.35 and a 200 day simple moving average of $77.11. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. Regency Centers has a 12-month low of $66.86 and a 12-month high of $83.66.

Insiders Place Their Bets

In related news, Chairman Martin E. Stein, Jr. sold 274,615 shares of Regency Centers stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $78.40, for a total transaction of $21,529,816.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the sale, the insider directly owned 33,069 shares of the company’s stock, valued at $2,614,435.14. The trade was a 19.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 283,782 shares of company stock worth $22,255,898. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regency Centers

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Regency Centers in the 4th quarter worth approximately $1,183,667,000. State Street Corp increased its stake in shares of Regency Centers by 1.4% during the fourth quarter. State Street Corp now owns 12,572,876 shares of the company’s stock valued at $877,261,000 after acquiring an additional 168,884 shares during the period. Principal Financial Group Inc. increased its stake in shares of Regency Centers by 10.3% during the first quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company’s stock valued at $756,967,000 after acquiring an additional 931,272 shares during the period. Geode Capital Management LLC raised its holdings in Regency Centers by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company’s stock worth $338,110,000 after purchasing an additional 67,739 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Regency Centers by 7.2% during the fourth quarter. Invesco Ltd. now owns 4,261,437 shares of the company’s stock worth $294,167,000 after purchasing an additional 287,397 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.