Regency Centers (NASDAQ:REG) Hits New 12-Month High Following Analyst Upgrade

Regency Centers Co. (NASDAQ:REG)’s stock price reached a new 52-week high on Wednesday after BTIG Research raised their price target on the stock from $72.00 to $79.00. BTIG Research currently has a buy rating on the stock. Regency Centers traded as high as $75.92 and last traded at $75.75, with a volume of 22766 shares. The stock had previously closed at $75.00.

REG has been the topic of several other research reports. Scotiabank boosted their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Compass Point upped their price target on Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. KeyCorp initiated coverage on Regency Centers in a research report on Friday, October 25th. They set an “overweight” rating and a $80.00 price objective for the company. Wells Fargo & Company upped their target price on Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Evercore ISI upgraded shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $77.08.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently bought and sold shares of REG. DekaBank Deutsche Girozentrale grew its stake in shares of Regency Centers by 14.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 116,726 shares of the company’s stock valued at $6,998,000 after buying an additional 14,410 shares during the period. PGGM Investments boosted its holdings in Regency Centers by 2,586.9% in the second quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock worth $103,912,000 after acquiring an additional 1,608,431 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Regency Centers by 170.1% in the second quarter. Thrivent Financial for Lutherans now owns 80,107 shares of the company’s stock valued at $4,983,000 after acquiring an additional 50,444 shares during the period. Raymond James & Associates increased its holdings in shares of Regency Centers by 41.2% during the second quarter. Raymond James & Associates now owns 151,913 shares of the company’s stock valued at $9,449,000 after acquiring an additional 44,290 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Regency Centers by 60.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,618 shares of the company’s stock worth $2,091,000 after purchasing an additional 12,682 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Regency Centers Trading Up 1.2 %

The business has a fifty day moving average of $72.42 and a 200-day moving average of $68.09. 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 company has a market capitalization of $13.78 billion, a P/E ratio of 35.64, a PEG ratio of 4.08 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last released its quarterly earnings data on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). The business 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 27.78% and a return on equity of 5.85%. During the same period last year, the business posted $1.02 earnings per share. Analysts anticipate that Regency Centers Co. will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be issued a dividend of $0.705 per share. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Monday, December 16th. Regency Centers’s payout ratio is currently 132.39%.

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.