Brokerages Set Regency Centers Corporation (NASDAQ:REG) Price Target at $82.62

Regency Centers Corporation (NASDAQ:REG) has earned an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $82.6875.

REG has been the subject of several research reports. BTIG Research reiterated a “buy” rating and issued a $85.00 target price on shares of Regency Centers in a report on Friday, June 12th. Jefferies Financial Group raised Regency Centers to a “strong-buy” rating in a research report on Friday, June 26th. Evercore set a $81.00 price target on shares of Regency Centers in a research report on Tuesday. Citigroup lifted their price objective on shares of Regency Centers from $76.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $88.00 target price on shares of Regency Centers in a research note on Monday, June 29th.

Regency Centers Price Performance

NASDAQ:REG opened at $80.74 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a 50 day moving average price of $78.59 and a 200 day moving average price of $76.06. The stock has a market cap of $14.78 billion, a PE ratio of 27.84, a P/E/G ratio of 3.38 and a beta of 0.80. Regency Centers has a one year low of $66.86 and a one year high of $81.93.

Regency Centers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, June 12th. Regency Centers’s dividend payout ratio (DPR) is currently 104.14%.

Insiders Place Their Bets

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the transaction, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. This represents a 19.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 283,782 shares of company stock valued at $22,255,898. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Regency Centers by 5.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,311 shares of the company’s stock valued at $423,000 after purchasing an additional 270 shares during the last quarter. Somerset Trust Co lifted its stake in shares of Regency Centers by 5.5% during the second quarter. Somerset Trust Co now owns 3,422 shares of the company’s stock valued at $273,000 after buying an additional 177 shares during the period. Versant Capital Management Inc grew its stake in Regency Centers by 32.6% in the 2nd quarter. Versant Capital Management Inc now owns 3,966 shares of the company’s stock worth $316,000 after acquiring an additional 976 shares during the period. CX Institutional raised its holdings in Regency Centers by 11.3% in the 2nd quarter. CX Institutional now owns 3,436 shares of the company’s stock valued at $274,000 after acquiring an additional 348 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Regency Centers by 43.9% during the first quarter. Parallel Advisors LLC now owns 4,258 shares of the company’s stock worth $322,000 after purchasing an additional 1,300 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.