Regency Centers (NASDAQ:REG) Rating Increased to Strong-Buy at KeyCorp

KeyCorp upgraded shares of Regency Centers (NASDAQ:REG) to a strong-buy rating in a report released on Thursday, Zacks.com reports.

A number of other brokerages have also recently issued reports on REG. Truist Financial boosted their target price on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a report on Friday, August 16th. Scotiabank increased their price objective on Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Evercore ISI lowered Regency Centers from an “outperform” rating to an “inline” rating and lifted their target price for the company from $72.00 to $75.00 in a report on Monday, September 16th. Compass Point increased their price target on shares of Regency Centers from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Regency Centers has a consensus rating of “Moderate Buy” and an average price target of $76.55.

Regency Centers Stock Performance

NASDAQ:REG opened at $71.01 on Thursday. Regency Centers has a 1 year low of $56.51 and a 1 year high of $75.26. 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 business has a fifty day simple moving average of $72.03 and a two-hundred day simple moving average of $65.77. The company has a market capitalization of $13.12 billion, a P/E ratio of 34.64, a P/E/G ratio of 4.48 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The firm had revenue of $357.25 million during the quarter, compared to the consensus estimate of $361.56 million. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, analysts expect that Regency Centers will post 4.24 earnings per share for the current year.

Regency Centers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Thursday, September 12th. Regency Centers’s dividend payout ratio (DPR) is presently 130.73%.

Insider Activity at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’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 transaction, the chairman now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at $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 is available through this link. Also, VP Michael R. Herman sold 1,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the transaction, the vice president now owns 13,010 shares in the company, valued at approximately $905,105.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently modified their holdings of REG. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Regency Centers by 18.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 312,155 shares of the company’s stock worth $18,904,000 after buying an additional 49,188 shares during the period. FORA Capital LLC lifted its stake in shares of Regency Centers by 493.7% in the 1st quarter. FORA Capital LLC now owns 25,061 shares of the company’s stock valued at $1,518,000 after purchasing an additional 20,840 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Regency Centers by 10.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after purchasing an additional 873,062 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Regency Centers by 14.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 116,726 shares of the company’s stock worth $6,998,000 after purchasing an additional 14,410 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its stake in Regency Centers by 5.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 309,182 shares of the company’s stock worth $18,725,000 after purchasing an additional 15,621 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.