Regency Centers (NASDAQ:REG) Shares Down 0.8% – Here’s Why

Shares of Regency Centers Co. (NASDAQ:REG) traded down 0.8% on Wednesday . The stock traded as low as $70.90 and last traded at $70.87. 82,219 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,000,249 shares. The stock had previously closed at $71.42.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Mizuho upped their target price on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. BTIG Research upped their target price on Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Wells Fargo & Company decreased their price objective on Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Evercore ISI decreased their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Three 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 stock. According to MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and an average price target of $78.08.

Regency Centers Stock Performance

The business has a 50 day simple moving average of $72.84 and a 200 day simple moving average of $73.02. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $12.93 billion, a PE ratio of 33.64, a PEG ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. Equities research analysts predict that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers’s dividend payout ratio is presently 133.02%.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total value of $3,674,000.00. Following the transaction, the chairman now directly owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. This represents a 31.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the transaction, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. This represents a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,000 shares of company stock valued at $6,977,500. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Heck Capital Advisors LLC acquired a new stake in Regency Centers during the fourth quarter worth about $26,000. National Pension Service acquired a new stake in Regency Centers during the fourth quarter worth about $27,000. TD Waterhouse Canada Inc. grew its holdings in Regency Centers by 48,700.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company’s stock worth $36,000 after acquiring an additional 487 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in Regency Centers during the fourth quarter worth about $39,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Regency Centers during the fourth quarter worth approximately $54,000. 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.