Regency Centers (NASDAQ:REG) Sets New 1-Year High – Should You Buy?

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore set a $81.00 price objective on Regency Centers in a research report on Tuesday, July 7th. Raymond James Financial restated an “outperform” rating and set a $88.00 target price on shares of Regency Centers in a research note on Monday, June 29th. Citigroup raised their price target on shares of Regency Centers from $76.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Scotiabank lifted their price target on shares of Regency Centers from $76.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. Finally, BTIG Research reissued a “buy” rating and set a $85.00 price objective on shares of Regency Centers in a report on Friday, June 12th. Two 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.94.

Regency Centers Stock Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market capitalization of $15.01 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.41 and a beta of 0.80. The business’s fifty day simple moving average is $78.66 and its 200-day simple moving average is $76.52.

Regency Centers Announces Dividend

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

Insider Activity

In related news, insider Terah L. Devereaux sold 1,240 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $80.14, for a total value of $99,373.60. Following the completion of the sale, the insider owned 17,990 shares in the company, valued at approximately $1,441,718.60. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total transaction of $626,708.62. Following the transaction, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. This trade represents a 19.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 283,782 shares of company stock valued at $22,255,898. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regency Centers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Havemeyer Place LP purchased a new stake in Regency Centers during the fourth quarter worth $26,000. Hantz Financial Services Inc. increased its holdings in Regency Centers by 388.9% in the fourth quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $30,000 after buying an additional 350 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock worth $30,000 after acquiring an additional 157 shares during the period. CYBER HORNET ETFs LLC acquired a new position in shares of Regency Centers in the second quarter worth about $31,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Regency Centers during the 2nd quarter worth about $34,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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.