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Robert W. Baird Increases Regency Centers (NASDAQ:REG) Price Target to $80.00

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Key Points

  • Robert W. Baird has raised the target price for Regency Centers (NASDAQ:REG) from $78.00 to $80.00, indicating a potential upside of 9.09%.
  • The stock experienced a 2.2% increase during trading, reaching a price of $73.34, with recent quarterly earnings exceeding analyst expectations.
  • Analysts have mixed ratings for the stock, with one sell rating, four hold ratings, eight buy ratings, and one strong buy rating, leading to a consensus rating of "Moderate Buy".
  • Interested in Regency Centers? Here are five stocks we like better.

Regency Centers (NASDAQ:REG - Free Report) had its price objective increased by Robert W. Baird from $78.00 to $80.00 in a research note published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

REG has been the topic of a number of other research reports. Barclays initiated coverage on Regency Centers in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $77.00 price objective on the stock. Mizuho lowered their price objective on Regency Centers from $79.00 to $74.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Evercore ISI raised their price objective on Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a research note on Wednesday. Wall Street Zen lowered Regency Centers from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Finally, Truist Financial lifted their target price on Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Regency Centers currently has an average rating of "Moderate Buy" and an average price target of $77.92.

Read Our Latest Research Report on REG

Regency Centers Stock Down 1.2%

Shares of REG traded down $0.83 during midday trading on Wednesday, hitting $70.57. The company had a trading volume of 256,894 shares, compared to its average volume of 1,084,787. The company's 50-day simple moving average is $70.89 and its 200-day simple moving average is $71.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.13. The firm has a market capitalization of $12.81 billion, a P/E ratio of 32.95, a P/E/G ratio of 3.47 and a beta of 1.00. Regency Centers has a 1 year low of $63.44 and a 1 year high of $78.18.

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.04. The business had revenue of $369.85 million for the quarter, compared to analyst estimates of $366.35 million. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. As a group, sell-side analysts expect that Regency Centers will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th were given a $0.705 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 4.0%. Regency Centers's payout ratio is currently 131.78%.

Insider Activity

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total value of $301,205.52. Following the sale, the insider owned 33,069 shares of the company's stock, valued at approximately $2,395,518.36. The trade was a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Regency Centers

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its stake in Regency Centers by 42.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 505 shares of the company's stock worth $37,000 after buying an additional 150 shares in the last quarter. State of Wyoming lifted its position in Regency Centers by 11.3% during the fourth quarter. State of Wyoming now owns 1,543 shares of the company's stock valued at $114,000 after purchasing an additional 157 shares during the period. Crossmark Global Holdings Inc. grew its stake in Regency Centers by 1.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 9,627 shares of the company's stock valued at $710,000 after acquiring an additional 160 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Regency Centers by 4.1% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,260 shares of the company's stock valued at $314,000 after acquiring an additional 169 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Regency Centers by 4.6% in the 1st quarter. Proficio Capital Partners LLC now owns 3,847 shares of the company's stock valued at $284,000 after purchasing an additional 170 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Regency Centers Company Profile

(Get Free Report)

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.

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