Regency Centers (NASDAQ:REG) Stock Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• Regency Centers shares moved above their 50-day moving average, reaching $74.42 and last trading at $74.28, though still below the 200-day average of $76.52.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $83.00, despite recent target reductions from Mizuho and UBS; ratings include two Strong Buys, eight Buys, and eight Holds.
• The company exceeded quarterly earnings expectations with $1.21 EPS versus a $0.59 estimate and pays a $0.755 quarterly dividend, equivalent to a 4.1% yield, although its 102.37% payout ratio is elevated.

Regency Centers Corporation (NASDAQ:REG - Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $73.84 and traded as high as $74.42. Regency Centers shares last traded at $74.28, with a volume of 1,201,896 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on REG. Mizuho cut their target price on shares of Regency Centers from $82.00 to $76.00 and set a "neutral" rating on the stock in a report on Thursday, September 24th. The Goldman Sachs Group set a $83.00 price target on shares of Regency Centers in a research report on Thursday, September 24th. UBS Group decreased their price target on shares of Regency Centers from $85.00 to $77.00 and set a "neutral" rating for the company in a research note on Friday, October 9th. Argus set a $85.00 price objective on shares of Regency Centers in a research report on Monday, August 10th. Finally, Barclays dropped their price objective on shares of Regency Centers from $92.00 to $85.00 and set an "overweight" rating on the stock in a research note on Monday, September 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Regency Centers currently has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Regency Centers Trading Up 0.8%

The stock has a fifty day simple moving average of $73.84 and a two-hundred day simple moving average of $76.52. The company has a market cap of $13.60 billion, a PE ratio of 25.18 and a beta of 0.80.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.62. The business had revenue of $413.51 million for the quarter, compared to analysts' expectations of $411.07 million. During the same period last year, the company posted $1.16 earnings per share. As a group, equities research analysts anticipate that Regency Centers Corporation will post 4.86 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a dividend of $0.7550 per share. This represents a $3.02 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, September 11th. Regency Centers's dividend payout ratio is currently 102.37%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Regency Centers in the second quarter valued at $1,597,868,000. Deutsche Bank AG acquired a new position in shares of Regency Centers during the 2nd quarter worth $170,282,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Regency Centers by 18,982.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,953,088 shares of the company's stock worth $155,739,000 after purchasing an additional 1,942,853 shares during the period. Legal & General Group Plc purchased a new position in shares of Regency Centers in the 2nd quarter valued at about $109,394,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Regency Centers in the 2nd quarter valued at about $108,196,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

Regency Centers Company Profile

Regency Centers Corporation is a real estate investment trust that owns, operates, develops and redevelops grocery-anchored shopping centers in the United States. Its properties are designed to serve everyday consumer needs and typically include supermarkets, restaurants, service providers, retailers and other commercial tenants.

The company focuses primarily on high-quality shopping centers located in established and growing communities, often in affluent or densely populated trade areas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.