Truist Financial Increases Regency Centers (NASDAQ:REG) Price Target to $84.00

Regency Centers (NASDAQ:REG) had its price target upped by research analysts at Truist Financial from $77.00 to $84.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 6.33% from the company’s previous close.

REG has been the subject of a number of other research reports. Citigroup upped their price target on shares of Regency Centers from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Jefferies Financial Group set a $79.00 price objective on shares of Regency Centers in a report on Monday, December 15th. Robert W. Baird set a $84.00 target price on Regency Centers in a report on Tuesday, February 10th. Barclays raised shares of Regency Centers from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $83.00 to $82.00 in a research note on Tuesday, November 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 target price on shares of Regency Centers in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.29.

Regency Centers Stock Up 0.7%

NASDAQ REG opened at $79.00 on Monday. The company has a 50 day moving average of $72.56 and a 200-day moving average of $71.41. The company has a market cap of $14.45 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 3.40 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. Regency Centers has a 1-year low of $63.44 and a 1-year high of $79.08.

Insider Transactions at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $76.30, for a total transaction of $763,000.00. Following the completion of the sale, the chairman directly owned 272,133 shares of the company’s stock, valued at approximately $20,763,747.90. The trade was a 3.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Regency Centers in the 4th quarter worth about $1,183,667,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Regency Centers in the 3rd quarter worth approximately $107,144,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of Regency Centers in the fourth quarter valued at approximately $56,480,000. Goldman Sachs Group Inc. increased its position in shares of Regency Centers by 75.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company’s stock valued at $124,680,000 after acquiring an additional 775,609 shares during the last quarter. Finally, Amundi increased its position in shares of Regency Centers by 91.4% during the second quarter. Amundi now owns 1,530,276 shares of the company’s stock valued at $108,344,000 after acquiring an additional 730,730 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Company Profile

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.