Regency Centers (NASDAQ:REG) Price Target Cut to $77.00 by Analysts at Evercore ISI

Regency Centers (NASDAQ:REG) had its price objective cut by Evercore ISI from $78.00 to $77.00 in a report published on Tuesday morning,Benzinga reports. They currently have an in-line rating on the stock.

Several other analysts have also commented on REG. BTIG Research increased their price target on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Compass Point increased their target price on shares of Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. KeyCorp began coverage on Regency Centers in a research report on Friday, October 25th. They set an “overweight” rating and a $80.00 price target on the stock. Wells Fargo & Company increased their price objective on Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Scotiabank upped their target price on Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.42.

Regency Centers Price Performance

NASDAQ REG opened at $74.61 on Tuesday. The company has a market cap of $13.54 billion, a PE ratio of 35.03, a P/E/G ratio of 4.16 and a beta of 1.22. Regency Centers has a 52-week low of $56.51 and a 52-week high of $76.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50 day moving average price is $73.76 and its 200-day moving average price is $70.11.

Regency Centers (NASDAQ:REG) last announced its earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.50). The company had revenue of $360.27 million for the quarter, compared to the consensus estimate of $355.17 million. Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. During the same period last year, the business posted $1.02 EPS. Sell-side analysts forecast that Regency Centers will post 4.28 EPS for the current fiscal year.

Regency Centers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be given a $0.705 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a yield of 3.78%. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio is currently 132.39%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in Regency Centers by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 1,504,945 shares of the company’s stock valued at $93,608,000 after acquiring an additional 23,062 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Regency Centers during the 2nd quarter valued at approximately $60,000. Principal Financial Group Inc. lifted its stake in shares of Regency Centers by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock valued at $555,009,000 after purchasing an additional 357,091 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in Regency Centers during the second quarter worth $271,000. Finally, Intact Investment Management Inc. grew its position in Regency Centers by 225.3% during the second quarter. Intact Investment Management Inc. now owns 81,650 shares of the company’s stock valued at $5,079,000 after buying an additional 56,550 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.