Regency Centers (NASDAQ:REG) Stock Price Down 0.7% – Here’s What Happened

Regency Centers Co. (NASDAQ:REG) shares dropped 0.7% on Friday . The stock traded as low as $70.76 and last traded at $71.54. Approximately 430,871 shares changed hands during trading, a decline of 57% from the average daily volume of 1,001,258 shares. The stock had previously closed at $72.04.

Analysts Set New Price Targets

REG has been the subject of several analyst reports. Wells Fargo & Company dropped their price target on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. BTIG Research upped their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Mizuho upped their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Finally, Evercore ISI decreased their price objective on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Regency Centers has an average rating of “Moderate Buy” and a consensus price target of $78.08.

Regency Centers Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $72.97 and its 200-day moving average is $73.00. The company has a market capitalization of $12.97 billion, a P/E ratio of 33.73, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last issued its earnings results on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping 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 analysts anticipate that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Activity at Regency Centers

In other news, CEO Lisa Palmer sold 25,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. This trade represents a 15.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 110,263 shares in the company, valued at approximately $8,102,125.24. This represents a 31.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,000 shares of company stock valued at $6,977,500 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Regency Centers during the fourth quarter valued at approximately $1,262,425,000. State Street Corp boosted its stake in shares of Regency Centers by 1.1% during the 3rd quarter. State Street Corp now owns 11,768,052 shares of the company’s stock worth $857,892,000 after acquiring an additional 131,300 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Regency Centers by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock valued at $823,711,000 after acquiring an additional 51,424 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Regency Centers by 1.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock worth $771,859,000 after purchasing an additional 171,047 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Regency Centers by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock worth $678,873,000 after purchasing an additional 366,427 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.