Evercore ISI Upgrades Regency Centers (NASDAQ:REG) to Strong-Buy

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

Other equities research analysts have also recently issued reports about the stock. Compass Point upped their price target on shares of Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. 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 report on Monday, August 26th. Wells Fargo & Company upped their price target on shares of Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upped 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. Finally, Mizuho upped their price objective on shares of Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Regency Centers presently has an average rating of “Buy” and a consensus target price of $76.67.

Regency Centers Trading Down 0.0 %

Shares of NASDAQ:REG opened at $71.42 on Tuesday. The stock has a market capitalization of $12.96 billion, a PE ratio of 33.53, a P/E/G ratio of 4.52 and a beta of 1.21. Regency Centers has a 1 year low of $56.51 and a 1 year high of $75.26. The firm has a fifty day moving average price of $72.14 and a 200 day moving average price of $66.14. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Regency Centers (NASDAQ:REG) last released 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). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The firm had revenue of $360.27 million for the quarter, compared to the consensus estimate of $355.17 million. During the same quarter last year, the company earned $1.02 earnings per share. Analysts expect that Regency Centers will post 4.24 EPS for the current fiscal year.

Insider Transactions at Regency Centers

In related news, VP Michael R. Herman sold 1,000 shares of the firm’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 in the company, valued at $905,105.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Regency Centers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Regency Centers by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock worth $1,749,520,000 after buying an additional 830,572 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Regency Centers by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock worth $547,995,000 after buying an additional 873,062 shares during the period. Principal Financial Group Inc. lifted its position in shares of Regency Centers by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock worth $555,009,000 after buying an additional 357,091 shares during the period. Boston Partners increased its holdings in Regency Centers by 4.1% during the 1st quarter. Boston Partners now owns 4,192,951 shares of the company’s stock valued at $253,902,000 after purchasing an additional 166,354 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Regency Centers by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,641,921 shares of the company’s stock valued at $164,327,000 after purchasing an additional 117,368 shares in the last quarter. 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.