Evercore ISI Upgrades Regency Centers (NASDAQ:REG) to “Strong-Buy”

Regency Centers (NASDAQ:REGGet Free Report) was upgraded by stock analysts at Evercore ISI from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

REG has been the subject of a number of other reports. Raymond James raised their target price on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on shares of Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company boosted their target price on shares of Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a “buy” rating to a “hold” rating and increased their price target for the company from $70.00 to $75.00 in a report on Thursday, September 26th. Finally, Truist Financial boosted their price objective on Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $76.55.

Read Our Latest Stock Report on Regency Centers

Regency Centers Trading Up 0.4 %

Regency Centers stock opened at $72.70 on Tuesday. Regency Centers has a 1 year low of $56.51 and a 1 year high of $75.26. The firm’s 50 day moving average price is $72.13 and its 200-day moving average price is $66.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $13.19 billion, a P/E ratio of 34.13, a PEG ratio of 4.42 and a beta of 1.21.

Regency Centers (NASDAQ:REGGet Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). The company had revenue of $360.27 million during the quarter, compared to the consensus estimate of $355.17 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same quarter in the prior year, the firm posted $1.02 earnings per share. On average, equities analysts predict that Regency Centers will post 4.24 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the transaction, the chairman now directly owns 307,199 shares in the company, valued at approximately $21,503,930. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the completion of the transaction, the vice president now directly owns 13,010 shares in the company, valued at $905,105.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

A number of large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of Regency Centers by 3.3% in the second quarter. Assenagon Asset Management S.A. now owns 4,744 shares of the company’s stock valued at $295,000 after acquiring an additional 152 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its stake in shares of Regency Centers by 4.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 4,543 shares of the company’s stock valued at $328,000 after purchasing an additional 189 shares in the last quarter. Tectonic Advisors LLC boosted its position in Regency Centers by 3.0% during the 3rd quarter. Tectonic Advisors LLC now owns 6,941 shares of the company’s stock valued at $501,000 after acquiring an additional 203 shares in the last quarter. Greenleaf Trust raised its position in shares of Regency Centers by 5.5% in the 3rd quarter. Greenleaf Trust now owns 4,563 shares of the company’s stock worth $330,000 after acquiring an additional 238 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of Regency Centers by 7.6% during the 2nd quarter. V Square Quantitative Management LLC now owns 3,829 shares of the company’s stock worth $238,000 after purchasing an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

About Regency Centers

(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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