Regency Centers (NASDAQ:REG) Hits New 52-Week High – What’s Next?

Regency Centers Co. (NASDAQ:REG) hit a new 52-week high on Friday . The company traded as high as $76.56 and last traded at $76.56, with a volume of 29472 shares. The stock had previously closed at $75.56.

Analysts Set New Price Targets

A number of brokerages have weighed in on REG. BTIG Research boosted their target price on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Robert W. Baird boosted their target price on shares of Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price target on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Mizuho boosted their price target on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, Evercore ISI dropped their price target on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Regency Centers currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.08.

Regency Centers Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The stock has a market cap of $13.91 billion, a P/E ratio of 36.18, a P/E/G ratio of 3.75 and a beta of 1.22. The company’s 50 day simple moving average is $72.69 and its 200 day simple moving average is $72.72.

Regency Centers (NASDAQ:REG) last issued its earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. As a group, equities analysts forecast that Regency Centers Co. will post 4.54 earnings per share for the current year.

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers’s dividend payout ratio (DPR) is presently 133.02%.

Insider Activity

In other news, CFO Michael J. Mas sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the transaction, the chief financial officer now owns 54,020 shares in the company, valued at $3,975,872. This represents a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the transaction, the chief executive officer now owns 139,923 shares of the company’s stock, valued at $10,250,758.98. This trade represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC acquired a new position in Regency Centers during the fourth quarter worth $26,000. National Pension Service acquired a new position in Regency Centers during the fourth quarter worth $27,000. TD Waterhouse Canada Inc. boosted its holdings in Regency Centers by 48,700.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company’s stock worth $36,000 after purchasing an additional 487 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Regency Centers during the fourth quarter worth $39,000. Finally, Ameriflex Group Inc. acquired a new position in Regency Centers during the fourth quarter worth $53,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

About Regency Centers

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.