Regency Centers (NASDAQ:REG) Shares Up 0.7% – Should You Buy?

Regency Centers Co. (NASDAQ:REG) shares shot up 0.7% during mid-day trading on Thursday . The stock traded as high as $73.32 and last traded at $73.33. 91,015 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,001,140 shares. The stock had previously closed at $72.83.

Wall Street Analyst Weigh In

Several research analysts have weighed in on REG shares. Wells Fargo & Company decreased their price objective on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday. Evercore ISI decreased their price target on 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. Finally, Mizuho boosted their price objective on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Regency Centers Stock Performance

The company has a market capitalization of $13.22 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 3.75 and a beta of 1.23. The stock has a 50 day simple moving average of $73.12 and a 200 day simple moving average of $72.98. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66.

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

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.705 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 annualized dividend and a dividend yield of 3.87%. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Buying and Selling

In other Regency Centers news, 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 transaction of $1,831,500.00. Following the sale, the chief executive officer now directly owns 139,923 shares in the company, valued at approximately $10,250,758.98. The trade was a 15.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 directly owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. This represents a 31.20 % decrease in their ownership of the stock. 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 in the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REG. Norges Bank bought a new position in Regency Centers during the 4th quarter valued at $1,262,425,000. Invesco Ltd. boosted its stake in Regency Centers by 121.2% during the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock valued at $397,333,000 after buying an additional 2,944,854 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Regency Centers by 1,138.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock worth $149,932,000 after acquiring an additional 1,908,153 shares during the period. Northern Trust Corp grew its holdings in Regency Centers by 64.1% during the fourth quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock worth $205,645,000 after acquiring an additional 1,086,797 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Regency Centers by 51.7% in the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock valued at $159,363,000 after acquiring an additional 734,210 shares during the last quarter. Institutional investors 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.