Regency Centers (NASDAQ:REG) Shares Down 1.1% - Here's What Happened

Regency Centers Co. (NASDAQ:REG - Get Free Report)'s share price fell 1.1% during mid-day trading on Friday . The company traded as low as $67.01 and last traded at $67.66. 185,287 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,066,023 shares. The stock had previously closed at $68.42.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on REG shares. Mizuho increased their target price 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. Wells Fargo & Company lowered their price objective on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Finally, Evercore ISI decreased their target price on Regency Centers from $78.00 to $77.00 and set an "in-line" rating for the company in a research report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Regency Centers presently has an average rating of "Moderate Buy" and a consensus price target of $78.00.

Regency Centers Stock Performance

The business has a 50-day simple moving average of $72.60 and a 200-day simple moving average of $72.69. The firm has a market capitalization of $12.77 billion, a PE ratio of 33.19, a P/E/G ratio of 3.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95.

Regency Centers (NASDAQ:REG - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. Equities research analysts expect that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Wednesday, March 12th. Regency Centers's payout ratio is currently 133.02%.

Insider Buying and Selling at Regency Centers

In related news, CFO Michael J. Mas sold 20,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the transaction, the chief financial officer now owns 54,020 shares of the company's stock, valued at approximately $3,975,872. This represents a 27.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of Regency Centers stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the sale, the chairman now directly owns 110,263 shares in the company, valued at $8,102,125.24. This represents a 31.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,000 shares of company stock worth $6,977,500. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Regency Centers

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Regency Centers in the 4th quarter worth $1,262,425,000. Invesco Ltd. raised its stake in Regency Centers by 121.2% during the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company's stock worth $397,333,000 after purchasing an additional 2,944,854 shares during the period. Northern Trust Corp boosted its holdings in Regency Centers by 64.1% in the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company's stock valued at $205,645,000 after purchasing an additional 1,086,797 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Regency Centers by 51.7% during the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company's stock valued at $159,363,000 after buying an additional 734,210 shares during the period. Finally, California Public Employees Retirement System increased its stake in Regency Centers by 137.2% during the fourth quarter. California Public Employees Retirement System now owns 776,521 shares of the company's stock worth $57,408,000 after acquiring an additional 449,110 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company's stock.

Regency Centers Company Profile

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.