Regency Centers (NASDAQ:REG) Hits New 52-Week High - Here's What Happened

Key Points

• Regency Centers (NASDAQ: REG) hit a new 52-week high on Thursday, trading as high as $82.02 before closing near that level at $82.01.
• Recent analyst action has been broadly positive, including a Jefferies upgrade to strong-buy and higher price targets from Wells Fargo and Barclays. The stock currently carries a consensus Moderate Buy rating with an average target of $82.94.
• The company also paid a quarterly dividend of $0.755 per share, equal to an annualized yield of about 3.7%. Insiders have sold shares in recent months, while institutional investors continue to hold the vast majority of the stock.

Shares of Regency Centers Corporation (NASDAQ:REG - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $82.02 and last traded at $82.01, with a volume of 62187 shares. The stock had previously closed at $79.99.

Analyst Ratings Changes

REG has been the topic of several recent research reports. BTIG Research reaffirmed a "buy" rating and issued a $85.00 target price on shares of Regency Centers in a research note on Friday, June 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regency Centers in a research report on Friday, May 29th. Jefferies Financial Group upgraded shares of Regency Centers to a "strong-buy" rating in a report on Friday, June 26th. Wells Fargo & Company boosted their price target on Regency Centers from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Finally, Barclays boosted their price target on Regency Centers from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $82.94.

Regency Centers Price Performance

The company has a market cap of $15.01 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 3.41 and a beta of 0.80. The company has a 50 day moving average price of $78.66 and a 200-day moving average price of $76.52. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, June 12th. Regency Centers's dividend payout ratio (DPR) is currently 104.14%.

Insider Transactions at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terah L. Devereaux sold 1,240 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.14, for a total value of $99,373.60. Following the transaction, the insider owned 17,990 shares of the company's stock, valued at $1,441,718.60. The trade was a 6.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 283,782 shares of company stock worth $22,255,898 in the last 90 days. Insiders own 1.00% of the company's stock.

Institutional Trading of Regency Centers

Institutional investors have recently made changes to their positions in the stock. Havemeyer Place LP bought a new position in Regency Centers in the fourth quarter worth about $26,000. Hantz Financial Services Inc. lifted its position in Regency Centers by 388.9% during the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock valued at $30,000 after acquiring an additional 350 shares during the period. Brown Brothers Harriman & Co. grew its holdings in Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after purchasing an additional 157 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Regency Centers during the second quarter valued at approximately $31,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Regency Centers during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

Regency Centers Company Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company's portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.

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