Brokerages Set Regency Centers Corporation (NASDAQ:REG) Price Target at $80.14

Regency Centers Corporation (NASDAQ:REG) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $80.3571.

REG has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Regency Centers from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Royal Bank Of Canada upgraded Regency Centers to a “sector perform” rating in a research note on Friday, January 9th. Robert W. Baird set a $84.00 target price on Regency Centers in a research note on Tuesday, February 10th. Citigroup upped their target price on Regency Centers from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Finally, UBS Group set a $76.00 target price on Regency Centers in a research note on Wednesday, January 14th.

Insiders Place Their Bets

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 129,490 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $78.33, for a total value of $10,142,951.70. Following the transaction, the chairman directly owned 195,892 shares in the company, valued at $15,344,220.36. This represents a 39.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 177,490 shares of company stock valued at $13,839,932. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regency Centers

Several institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Regency Centers during the 4th quarter valued at about $1,183,667,000. State Street Corp grew its position in Regency Centers by 1.4% during the 4th quarter. State Street Corp now owns 12,572,876 shares of the company’s stock worth $877,261,000 after acquiring an additional 168,884 shares during the last quarter. Geode Capital Management LLC grew its position in Regency Centers by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company’s stock worth $338,110,000 after acquiring an additional 67,739 shares during the last quarter. Invesco Ltd. grew its position in Regency Centers by 7.2% during the 4th quarter. Invesco Ltd. now owns 4,261,437 shares of the company’s stock worth $294,167,000 after acquiring an additional 287,397 shares during the last quarter. Finally, Boston Partners grew its position in Regency Centers by 2.1% during the 3rd quarter. Boston Partners now owns 3,540,137 shares of the company’s stock worth $258,062,000 after acquiring an additional 72,584 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Regency Centers Stock Performance

Shares of REG opened at $80.74 on Tuesday. The stock’s 50-day simple moving average is $77.51 and its 200 day simple moving average is $73.01. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 3.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. Regency Centers has a 52-week low of $66.86 and a 52-week high of $81.66.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th were paid a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, March 11th. Regency Centers’s dividend payout ratio is currently 107.86%.

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.