Regency Centers (NASDAQ:REG) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Regency Centers (NASDAQ:REG - Free Report) from a sell rating to a hold rating in a report published on Friday.

REG has been the topic of a number of other research reports. Truist Financial lifted their price target on Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Wells Fargo & Company dropped their target price on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Finally, Scotiabank cut their price target on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Regency Centers presently has an average rating of "Moderate Buy" and an average price target of $78.08.

Regency Centers Price Performance

Shares of REG remained flat at $70.54 during mid-day trading on Friday. 1,302,167 shares of the stock traded hands, compared to its average volume of 1,058,185. Regency Centers has a 12 month low of $61.34 and a 12 month high of $78.18. The company has a market cap of $12.81 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 3.44 and a beta of 1.01. The company has a fifty day moving average of $71.77 and a 200-day moving average of $72.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01.

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.01. The company had revenue of $370.35 million for the quarter, compared to analysts' expectations of $364.64 million. Regency Centers had a return on equity of 5.98% and a net margin of 27.21%. During the same quarter in the prior year, the company earned $1.08 earnings per share. As a group, equities analysts anticipate that Regency Centers will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be given a $0.705 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $2.82 dividend on an annualized basis and a yield of 4.00%. Regency Centers's payout ratio is 133.02%.

Insider Buying and Selling at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total value of $301,205.52. Following the transaction, the insider now owns 33,069 shares in the company, valued at approximately $2,395,518.36. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently bought and sold shares of the business. Ieq Capital LLC lifted its position in shares of Regency Centers by 41.2% in the fourth quarter. Ieq Capital LLC now owns 4,876 shares of the company's stock worth $360,000 after buying an additional 1,423 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Regency Centers by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,467,980 shares of the company's stock valued at $108,528,000 after acquiring an additional 45,514 shares in the last quarter. National Pension Service acquired a new stake in Regency Centers in the 4th quarter worth approximately $27,000. Proficio Capital Partners LLC lifted its holdings in Regency Centers by 8,012.2% in the 4th quarter. Proficio Capital Partners LLC now owns 271,841 shares of the company's stock worth $20,097,000 after purchasing an additional 268,490 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in Regency Centers by 8.6% during the fourth quarter. QRG Capital Management Inc. now owns 78,967 shares of the company's stock worth $5,838,000 after purchasing an additional 6,240 shares during the period. 96.07% of the stock is currently owned by 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.