Regency Centers (NASDAQ:REG) Reaches New 12-Month High – Should You Buy?

Regency Centers Corporation (NASDAQ:REG)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $81.93 and last traded at $81.81, with a volume of 2578710 shares traded. The stock had previously closed at $80.25.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of analyst reports. BTIG Research restated a “buy” rating and set a $85.00 price objective on shares of Regency Centers in a research note on Friday, June 12th. Morgan Stanley increased their price target on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Regency Centers in a research report on Friday, May 29th. Evercore set a $80.00 price objective on Regency Centers in a research report on Friday, May 1st. Finally, Scotiabank lifted their target price on Regency Centers from $76.00 to $82.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $82.27.

Regency Centers Stock Performance

The business’s fifty day moving average price is $78.52 and its 200-day moving average price is $75.34. The stock has a market cap of $14.98 billion, a PE ratio of 28.21, a P/E/G ratio of 3.39 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14.

Regency Centers Dividend Announcement

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

Insider Buying and Selling

In other news, insider Terah L. Devereaux sold 1,240 shares of Regency Centers stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the transaction, the insider directly owned 17,990 shares of the company’s stock, valued at $1,441,718.60. The trade was a 6.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $78.40, for a total value of $21,529,816.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 283,782 shares of company stock valued at $22,255,898. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regency Centers

Large investors have recently made changes to their positions in the business. Pensionfund Sabic bought a new position in shares of Regency Centers in the fourth quarter worth about $1,339,000. Azzad Asset Management Inc. ADV increased its holdings in shares of Regency Centers by 68.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company’s stock valued at $3,697,000 after acquiring an additional 21,799 shares during the period. M&T Bank Corp raised its holdings in Regency Centers by 168.6% in the fourth quarter. M&T Bank Corp now owns 25,931 shares of the company’s stock worth $1,791,000 after purchasing an additional 16,277 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Regency Centers by 3.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 311,562 shares of the company’s stock valued at $21,507,000 after acquiring an additional 10,745 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its position in Regency Centers by 5.7% during the 3rd quarter. Centersquare Investment Management LLC now owns 351,963 shares of the company’s stock valued at $25,658,000 after buying an additional 18,997 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.