Scotiabank Forecasts Strong Price Appreciation for Regency Centers (NASDAQ:REG) Stock

Regency Centers (NASDAQ:REG) had its price target increased by equities researchers at Scotiabank from $76.00 to $82.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 9.12% from the stock’s current price.

A number of other research firms have also recently weighed in on REG. Barclays lifted their price target on Regency Centers from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Truist Financial increased their price objective on Regency Centers from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Mizuho reaffirmed a “neutral” rating and set a $74.00 target price (down from $77.00) on shares of Regency Centers in a research note on Friday, January 9th. Citigroup boosted their price target on Regency Centers from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Finally, Robert W. Baird set a $84.00 price target on Regency Centers in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Regency Centers presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.14.

Regency Centers Stock Performance

NASDAQ:REG traded up $0.50 during mid-day trading on Tuesday, hitting $75.15. The stock had a trading volume of 151,207 shares, compared to its average volume of 1,363,962. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $75.17 and a 200-day simple moving average of $72.05. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 3.22 and a beta of 0.91. Regency Centers has a 52 week low of $63.44 and a 52 week high of $79.89.

Insider Activity at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 129,490 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $78.33, for a total transaction of $10,142,951.70. Following the sale, the chairman owned 195,892 shares of the company’s stock, valued at $15,344,220.36. The trade was a 39.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 177,490 shares of company stock worth $13,839,932 in the last quarter. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regency Centers

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Havemeyer Place LP acquired a new position in shares of Regency Centers during the 4th quarter valued at $26,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock valued at $30,000 after buying an additional 157 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Regency Centers in the second quarter valued at $31,000. Hantz Financial Services Inc. boosted its stake in Regency Centers by 388.9% during the fourth quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $30,000 after buying an additional 350 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Regency Centers during the third quarter valued at about $33,000. 96.07% of the stock is owned by institutional investors.

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.