Regency Centers (NASDAQ:REG) Shares Down 0.8% – Here’s What Happened

Regency Centers Co. (NASDAQ:REG) was down 0.8% during trading on Wednesday . The stock traded as low as $70.90 and last traded at $70.87. Approximately 82,219 shares were traded during trading, a decline of 92% from the average daily volume of 1,000,249 shares. The stock had previously closed at $71.42.

Analyst Ratings Changes

A number of brokerages recently issued reports on REG. Mizuho upped their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. BTIG Research upped their price objective on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Evercore ISI decreased their price target on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Three 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.08.

Regency Centers Stock Performance

The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 3.75 and a beta of 1.23. The firm has a 50 day moving average price of $72.92 and a 200-day moving average price of $73.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95.

Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.705 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.94%. Regency Centers’s dividend payout ratio (DPR) is presently 133.02%.

Insiders Place Their Bets

In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the sale, the chairman now owns 110,263 shares in the company, valued at approximately $8,102,125.24. This represents a 31.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lisa Palmer sold 25,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the transaction, the chief executive officer now owns 139,923 shares in the company, 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. Insiders have sold a total of 95,000 shares of company stock valued at $6,977,500 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

Several hedge funds have recently modified their holdings of REG. Norges Bank acquired a new stake in shares of Regency Centers in the fourth quarter valued at about $1,262,425,000. State Street Corp increased its holdings in Regency Centers by 1.1% in the third quarter. State Street Corp now owns 11,768,052 shares of the company’s stock valued at $857,892,000 after buying an additional 131,300 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Regency Centers by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock valued at $823,711,000 after acquiring an additional 51,424 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Regency Centers by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock valued at $771,859,000 after acquiring an additional 171,047 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Regency Centers by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock worth $678,873,000 after acquiring an additional 366,427 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Company Profile

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.