Regency Centers (NASDAQ:REG) Hits New 12-Month High – Here’s Why

Regency Centers Corporation (NASDAQ:REG)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $82.02 and last traded at $82.01, with a volume of 62187 shares. The stock had previously closed at $79.99.

Analyst Upgrades and Downgrades

REG has been the subject of several recent research reports. UBS Group increased their price target on Regency Centers from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of Regency Centers in a research report on Friday, May 29th. BTIG Research reiterated a “buy” rating and set a $85.00 price objective on shares of Regency Centers in a research report on Friday, June 12th. Barclays lifted their target price on shares of Regency Centers from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley lifted their price objective on Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Regency Centers presently has an average rating of “Moderate Buy” and an average target price of $82.94.

Regency Centers Price Performance

The business’s 50-day moving average is $78.85 and its two-hundred day moving average is $76.66. The company has a market capitalization of $15.14 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 3.49 and a beta of 0.80. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72.

Regency Centers Announces Dividend

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

Insider Activity at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terah L. Devereaux sold 1,240 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.14, for a total value of $99,373.60. Following the transaction, the insider owned 17,990 shares of the company’s stock, valued at approximately $1,441,718.60. The trade was a 6.45% 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 worth $22,255,898. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Regency Centers during the fourth quarter valued at about $1,183,667,000. State Street Corp lifted its holdings in Regency Centers by 1.4% in the fourth quarter. State Street Corp now owns 12,572,876 shares of the company’s stock worth $877,261,000 after buying an additional 168,884 shares during the period. Principal Financial Group Inc. boosted its position in Regency Centers by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company’s stock valued at $756,967,000 after acquiring an additional 931,272 shares in the last quarter. Geode Capital Management LLC grew its stake in Regency Centers by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company’s stock worth $338,110,000 after purchasing an additional 67,739 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Regency Centers by 7.2% in 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 in the last quarter. Institutional investors own 96.07% of the company’s stock.

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.