Wells Fargo & Company Lowers Regency Centers (NASDAQ:REG) Price Target to $80.00

Regency Centers (NASDAQ:REG) had its target price trimmed by Wells Fargo & Company from $81.00 to $80.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently commented on REG. Robert W. Baird raised their price objective on Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. BTIG Research boosted their price target on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Mizuho raised their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, KeyCorp began coverage on shares of Regency Centers in a research note on Friday, October 25th. They set an “overweight” rating and a $80.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Regency Centers currently has a consensus rating of “Moderate Buy” and an average price target of $78.08.

Regency Centers Stock Performance

NASDAQ:REG opened at $71.84 on Wednesday. The firm’s 50-day moving average is $73.09 and its 200-day moving average is $71.89. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. Regency Centers has a 52-week low of $56.51 and a 52-week high of $76.53.

Regency Centers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 16th were paid a $0.705 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a yield of 3.93%. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is currently 132.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REG. Trustmark National Bank Trust Department acquired a new position in shares of Regency Centers during the third quarter valued at $719,000. HighTower Advisors LLC boosted its stake in shares of Regency Centers by 47.3% in the 3rd quarter. HighTower Advisors LLC now owns 29,342 shares of the company’s stock valued at $2,121,000 after purchasing an additional 9,424 shares during the last quarter. Royal London Asset Management Ltd. grew its position in shares of Regency Centers by 9.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company’s stock worth $7,615,000 after buying an additional 8,959 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Regency Centers during the third quarter worth approximately $953,000. Finally, Van ECK Associates Corp lifted its holdings in Regency Centers by 11.2% in the third quarter. Van ECK Associates Corp now owns 77,755 shares of the company’s stock valued at $5,616,000 after buying an additional 7,802 shares during the period. 96.07% of the stock is 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.