Regency Centers (NASDAQ:REG) Upgraded by Evercore ISI to “Strong-Buy” Rating

Evercore ISI upgraded shares of Regency Centers (NASDAQ:REG) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday, Zacks.com reports.

A number of other brokerages have also commented on REG. Truist Financial increased their price target on Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered shares of Regency Centers from a “buy” rating to a “hold” rating and raised their target price for the company from $70.00 to $75.00 in a report on Thursday, September 26th. Scotiabank upped their price target on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Raymond James boosted their target price on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.55.

Regency Centers Trading Up 0.4 %

Shares of REG opened at $72.70 on Tuesday. Regency Centers has a 1 year low of $56.51 and a 1 year high of $75.26. The company has a 50 day simple moving average of $72.13 and a two-hundred day simple moving average of $66.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $13.19 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 4.42 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). The company had revenue of $360.27 million during the quarter, compared to the consensus estimate of $355.17 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same quarter in the prior year, the firm posted $1.02 earnings per share. On average, equities analysts expect that Regency Centers will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares in the company, valued at approximately $21,503,930. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the transaction, the chairman now owns 307,199 shares in the company, valued at $21,503,930. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael R. Herman sold 1,000 shares of Regency Centers 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 sale, the vice president now owns 13,010 shares of the company’s stock, valued at $905,105.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regency Centers

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Regency Centers by 3.3% in the 2nd 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 last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Regency Centers by 4.3% in the third quarter. Azzad Asset Management Inc. ADV now owns 4,543 shares of the company’s stock valued at $328,000 after purchasing an additional 189 shares during the last quarter. Tectonic Advisors LLC grew its position in Regency Centers by 3.0% during the 3rd quarter. Tectonic Advisors LLC now owns 6,941 shares of the company’s stock worth $501,000 after purchasing an additional 203 shares during the period. Greenleaf Trust raised its stake in shares of Regency Centers by 5.5% during the 3rd quarter. Greenleaf Trust now owns 4,563 shares of the company’s stock valued at $330,000 after buying an additional 238 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Regency Centers by 7.6% in the 2nd quarter. V Square Quantitative Management LLC now owns 3,829 shares of the company’s stock valued at $238,000 after buying an additional 269 shares during the period. Hedge funds and other 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.