Regency Centers (NASDAQ:REG) Shares Down 0.7% – What’s Next?

Regency Centers Co. (NASDAQ:REG)’s stock price dropped 0.7% during trading on Wednesday . The company traded as low as $63.44 and last traded at $65.03. Approximately 482,803 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 1,070,545 shares. The stock had previously closed at $65.48.

Analysts Set New Price Targets

A number of analysts have weighed in on REG shares. Evercore ISI lowered their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Mizuho upped their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Three 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.00.

Regency Centers Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $12.60 billion, a PE ratio of 32.74, a PEG ratio of 3.75 and a beta of 1.03. The business has a 50 day simple moving average of $72.70 and a 200 day simple moving average of $72.70.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. Equities research analysts predict that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.705 per share. The ex-dividend date was Wednesday, March 12th. This represents a $2.82 annualized dividend and a dividend yield of 4.06%. Regency Centers’s payout ratio is currently 133.02%.

Insider Buying and Selling

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total value of $3,674,000.00. Following the sale, the chairman now directly owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. This represents a 31.20 % 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. Also, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total value of $1,831,500.00. Following the sale, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. This represents a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,000 shares of company stock worth $6,977,500 in the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

A number of hedge funds have recently modified their holdings of REG. HighTower Advisors LLC lifted its holdings in Regency Centers by 47.3% in the third quarter. HighTower Advisors LLC now owns 29,342 shares of the company’s stock valued at $2,121,000 after acquiring an additional 9,424 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Regency Centers by 25.0% in the 3rd quarter. Quantinno Capital Management LP now owns 16,760 shares of the company’s stock valued at $1,211,000 after purchasing an additional 3,352 shares during the period. MML Investors Services LLC boosted its holdings in Regency Centers by 14.7% during the third quarter. MML Investors Services LLC now owns 9,817 shares of the company’s stock worth $709,000 after buying an additional 1,258 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Regency Centers during the third quarter valued at $953,000. Finally, M&T Bank Corp increased its holdings in Regency Centers by 2.2% in the third quarter. M&T Bank Corp now owns 27,796 shares of the company’s stock valued at $2,008,000 after buying an additional 595 shares in the last quarter. 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.