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

Key Points

• Regency Centers hit a new 52-week high at $79.92, and analysts have raised ratings and price targets—MarketBeat's consensus is a "Moderate Buy" with a $80.14 consensus price target.
• Dividend yield 3.8%: the company paid a $0.755 quarterly dividend (annualized $3.02) but the dividend payout ratio is elevated at 107.86%.
• Insider selling amid heavy institutional ownership: Chairman Martin E. Stein Jr. sold 38,000 shares this quarter (part of 177,490 insider shares sold), while institutional investors own about 96.07% of the stock.

Regency Centers Corporation (NASDAQ:REG - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $79.92 and last traded at $79.77, with a volume of 42022 shares. The stock had previously closed at $79.52.

Analysts Set New Price Targets

Several brokerages recently weighed in on REG. Weiss Ratings raised shares of Regency Centers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft raised shares of Regency Centers from a "hold" rating to a "buy" rating and set a $83.00 target price on the stock in a research note on Tuesday, January 20th. Robert W. Baird set a $84.00 target price on shares of Regency Centers in a research note on Tuesday, February 10th. Scotiabank upped their target price on shares of Regency Centers from $76.00 to $82.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 24th. Finally, Barclays upped their target price on shares of Regency Centers from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Regency Centers currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.14.

Regency Centers Stock Performance

The stock's 50-day simple moving average is $77.00 and its 200 day simple moving average is $72.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $14.57 billion, a PE ratio of 28.41, a P/E/G ratio of 3.43 and a beta of 0.90.

Regency Centers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th were given a $0.755 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.8%. Regency Centers's dividend payout ratio is currently 107.86%.

Insider Activity at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 38,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $77.21, for a total value of $2,933,980.00. Following the sale, the chairman directly owned 157,892 shares of the company's stock, valued at approximately $12,190,841.32. This represents a 19.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have sold 177,490 shares of company stock valued at $13,839,932. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently modified their holdings of REG. Havemeyer Place LP purchased a new stake in shares of Regency Centers in the 4th quarter valued at approximately $26,000. Hantz Financial Services Inc. grew its position in shares of Regency Centers by 388.9% in the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock valued at $30,000 after buying an additional 350 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Regency Centers by 63.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock valued at $30,000 after buying an additional 157 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Regency Centers in the 2nd quarter valued at $31,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Regency Centers in the 3rd quarter valued at $33,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

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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