Regency Centers (NASDAQ:REG) Reaches New 12-Month High – Still a Buy?

Regency Centers Corporation (NASDAQ:REG)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $78.21 and last traded at $77.6030, with a volume of 249831 shares traded. The stock had previously closed at $76.85.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Jefferies Financial Group set a $79.00 price objective on shares of Regency Centers in a research note on Monday, December 15th. Truist Financial decreased their price target on Regency Centers from $81.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Scotiabank dropped their price target on Regency Centers from $78.00 to $76.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Weiss Ratings upgraded Regency Centers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Finally, Barclays upgraded Regency Centers from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $83.00 to $82.00 in a report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.79.

Regency Centers Stock Performance

The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 3.31 and a beta of 0.94. 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 firm has a fifty day simple moving average of $71.55 and a 200-day simple moving average of $71.20.

Regency Centers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be issued a $0.755 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $3.02 annualized dividend and a yield of 3.9%. Regency Centers’s dividend payout ratio (DPR) is currently 107.86%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC bought a new stake in Regency Centers during the 3rd quarter worth about $1,083,000. Inspire Investing LLC increased its position in shares of Regency Centers by 441.4% in the third quarter. Inspire Investing LLC now owns 21,736 shares of the company’s stock valued at $1,585,000 after acquiring an additional 17,721 shares during the last quarter. Pacific Heights Asset Management LLC raised its holdings in Regency Centers by 50.0% during the third quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock worth $16,402,000 after acquiring an additional 75,000 shares in the last quarter. Geode Capital Management LLC boosted its position in Regency Centers by 1.4% during the second quarter. Geode Capital Management LLC now owns 4,786,646 shares of the company’s stock valued at $339,669,000 after purchasing an additional 65,719 shares during the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in Regency Centers in the third quarter valued at approximately $1,031,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.