Regency Centers (NASDAQ:REG) Hits New 12-Month High at $71.69

Regency Centers Co. (NASDAQ:REG) shares hit a new 52-week high on Friday . The company traded as high as $71.69 and last traded at $71.65, with a volume of 94306 shares trading hands. The stock had previously closed at $70.74.

Analysts Set New Price Targets

REG has been the topic of a number of research reports. Raymond James lifted their target price on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Truist Financial lifted their target price on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Scotiabank cut their target price on shares of Regency Centers from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 16th. JPMorgan Chase & Co. lifted their price target on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Mizuho lifted their price target on shares of Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Regency Centers presently has an average rating of “Moderate Buy” and an average target price of $72.73.

Regency Centers Price Performance

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $13.10 billion, a PE ratio of 34.51, a PEG ratio of 4.35 and a beta of 1.21. The firm’s fifty day simple moving average is $65.55 and its 200-day simple moving average is $61.99.

Regency Centers (NASDAQ:REG) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.48). The firm had revenue of $357.25 million during the quarter, compared to analysts’ expectations of $361.56 million. Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. During the same period last year, the firm posted $1.03 earnings per share. On average, research analysts forecast that Regency Centers Co. will post 4.23 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.67 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.68 annualized dividend and a dividend yield of 3.78%. Regency Centers’s payout ratio is 130.73%.

Insider Activity

In related news, VP Michael R. Herman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the completion of the sale, the vice president now directly owns 13,010 shares in the company, valued at $905,105.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares in the company, valued at $21,503,930. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the completion of the transaction, the vice president now owns 13,010 shares of the company’s stock, valued at $905,105.70. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regency Centers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in shares of Regency Centers by 3.3% in the second quarter. Assenagon Asset Management S.A. now owns 4,744 shares of the company’s stock valued at $295,000 after acquiring an additional 152 shares during the period. Signaturefd LLC raised its stake in shares of Regency Centers by 11.1% in the fourth quarter. Signaturefd LLC now owns 1,625 shares of the company’s stock valued at $109,000 after acquiring an additional 162 shares during the period. New Mexico Educational Retirement Board raised its stake in shares of Regency Centers by 2.5% in the first quarter. New Mexico Educational Retirement Board now owns 8,250 shares of the company’s stock valued at $500,000 after acquiring an additional 200 shares during the period. Naviter Wealth LLC raised its stake in shares of Regency Centers by 2.0% in the first quarter. Naviter Wealth LLC now owns 10,901 shares of the company’s stock valued at $667,000 after acquiring an additional 218 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in shares of Regency Centers by 7.6% in the second quarter. V Square Quantitative Management LLC now owns 3,829 shares of the company’s stock valued at $238,000 after acquiring an additional 269 shares during the period. Institutional investors own 96.07% of the company’s stock.

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.