Regency Centers (NASDAQ:REG) Downgraded by Evercore ISI

Evercore ISI cut shares of Regency Centers (NASDAQ:REG) from an outperform rating to an inline rating in a research note published on Monday morning, Marketbeat.com reports. They currently have $75.00 target price on the stock, up from their previous target price of $72.00.

Several other research analysts have also recently commented on REG. Mizuho boosted their target price on Regency Centers from $67.00 to $73.00 and gave the stock an outperform rating in a research note on Monday, August 19th. Raymond James boosted their target price on Regency Centers from $67.00 to $75.00 and gave the stock an outperform rating in a research note on Friday, August 16th. Scotiabank boosted their target price on Regency Centers from $65.00 to $75.00 and gave the stock a sector perform rating in a research note on Monday, August 26th. Wells Fargo & Company upped their price objective on Regency Centers from $69.00 to $79.00 and gave the stock an overweight rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upped their price objective on Regency Centers from $71.00 to $77.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $75.55.

Regency Centers Price Performance

REG stock opened at $73.36 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $13.31 billion, a PE ratio of 35.79, a P/E/G ratio of 4.63 and a beta of 1.21. Regency Centers has a 12-month low of $56.29 and a 12-month high of $75.26. The business’s fifty day moving average price is $69.86 and its 200 day moving average price is $63.59.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $361.56 million. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, sell-side analysts anticipate that Regency Centers will post 4.23 EPS for the current year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.67 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.65%. Regency Centers’s dividend payout ratio (DPR) is presently 130.73%.

Insider Activity at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’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 completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’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 completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the company’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 completion of the sale, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

Several institutional investors and hedge funds have recently added to or reduced their stakes in REG. PGGM Investments raised its stake in Regency Centers by 2,586.9% during the 2nd quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after acquiring an additional 1,608,431 shares during the last quarter. Principal Financial Group Inc. raised its stake in Regency Centers by 16.5% during the 1st quarter. Principal Financial Group Inc. now owns 8,565,897 shares of the company’s stock valued at $518,751,000 after acquiring an additional 1,210,906 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $547,995,000 after acquiring an additional 873,062 shares during the last quarter. Vanguard Group Inc. raised its stake in Regency Centers by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock valued at $1,749,520,000 after acquiring an additional 830,572 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Regency Centers by 67.0% during the 1st quarter. Russell Investments Group Ltd. now owns 987,147 shares of the company’s stock valued at $59,768,000 after acquiring an additional 395,901 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.