Regency Centers (NASDAQ:REG) Rating Increased 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 research note issued to investors on Friday.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company dropped their price objective on Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Truist Financial lifted their price objective on Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Scotiabank dropped their price objective on Regency Centers from $76.00 to $75.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.08.

Regency Centers Trading Up 1.0%

REG stock traded up $0.69 during midday trading on Friday, hitting $71.23. 1,526,737 shares of the company's stock were exchanged, compared to its average volume of 1,057,648. Regency Centers has a 1-year low of $61.34 and a 1-year high of $78.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $71.77 and a two-hundred day simple moving average of $72.21. The stock has a market capitalization of $12.93 billion, a PE ratio of 16.14, a P/E/G ratio of 3.44 and a beta of 1.02.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.01. Regency Centers had a return on equity of 5.98% and a net margin of 27.21%. The business had revenue of $370.35 million during the quarter, compared to analysts' expectations of $364.64 million. During the same period in the previous year, the firm posted $1.08 earnings per share. On average, sell-side analysts predict that Regency Centers will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, June 11th. Regency Centers's dividend payout ratio (DPR) is 133.02%.

Insider Transactions at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the company's 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 completion of the transaction, the insider directly owned 33,069 shares of the company's stock, valued at $2,395,518.36. This represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regency Centers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ieq Capital LLC lifted its holdings in shares of Regency Centers by 41.2% in the 4th quarter. Ieq Capital LLC now owns 4,876 shares of the company's stock valued at $360,000 after purchasing an additional 1,423 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 purchasing an additional 45,514 shares during the last quarter. National Pension Service purchased a new stake in shares of Regency Centers in the 4th quarter valued at about $27,000. Proficio Capital Partners LLC lifted its holdings in shares of Regency Centers by 8,012.2% in the 4th quarter. Proficio Capital Partners LLC now owns 271,841 shares of the company's stock valued at $20,097,000 after purchasing an additional 268,490 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Regency Centers by 8.6% in the 4th quarter. QRG Capital Management Inc. now owns 78,967 shares of the company's stock valued at $5,838,000 after purchasing an additional 6,240 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.