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

Regency Centers Corporation (NASDAQ:REG) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $81.93 and last traded at $81.81, with a volume of 2578710 shares changing hands. The stock had previously closed at $80.25.

Analyst Ratings Changes

REG has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Barclays increased their price objective on shares of Regency Centers from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Wells Fargo & Company boosted their target price on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a research report on Friday, May 29th. Finally, Evercore set a $80.00 target price on Regency Centers in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $82.27.

Regency Centers Price Performance

The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $78.52 and a 200-day moving average of $75.34. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 3.39 and a beta of 0.81.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be given a dividend of $0.755 per share. The ex-dividend date is Friday, June 12th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.7%. Regency Centers’s payout ratio is 104.14%.

Insider Buying and Selling at Regency Centers

In other news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total value of $626,708.62. Following the completion of the sale, the insider directly owned 33,069 shares of the company’s stock, valued at approximately $2,614,435.14. This represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terah L. Devereaux sold 1,240 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the sale, the insider owned 17,990 shares of the company’s stock, valued at approximately $1,441,718.60. This represents a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 283,782 shares of company stock worth $22,255,898. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Regency Centers

Hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Investing LLC increased its stake in Regency Centers by 0.6% in the 1st quarter. Inspire Investing LLC now owns 22,480 shares of the company’s stock valued at $1,701,000 after buying an additional 141 shares during the period. Norinchukin Bank The raised its holdings in Regency Centers by 0.8% during the third quarter. Norinchukin Bank The now owns 17,730 shares of the company’s stock worth $1,293,000 after purchasing an additional 147 shares in the last quarter. Telos Capital Management Inc. raised its holdings in Regency Centers by 2.9% during the fourth quarter. Telos Capital Management Inc. now owns 5,378 shares of the company’s stock worth $371,000 after purchasing an additional 153 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in 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 purchasing an additional 157 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Regency Centers by 12.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,437 shares of the company’s stock valued at $102,000 after purchasing an additional 162 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.