Truist Financial Lowers Regency Centers (NASDAQ:REG) Price Target to $70.00

Regency Centers (NASDAQ:REG) had its target price cut by Truist Financial from $72.00 to $70.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on REG. Evercore ISI upgraded Regency Centers from an in-line rating to an outperform rating and lifted their price target for the company from $69.00 to $71.00 in a report on Monday, January 22nd. Wells Fargo & Company initiated coverage on Regency Centers in a report on Thursday, February 1st. They issued an overweight rating and a $70.00 price target for the company. Scotiabank lowered their price target on Regency Centers from $68.00 to $65.00 and set a sector perform rating for the company in a report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Regency Centers in a report on Tuesday, January 30th. They set a buy rating and a $74.00 target price for the company. Finally, Mizuho assumed coverage on Regency Centers in a report on Thursday, April 18th. They set a neutral rating and a $60.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Regency Centers currently has a consensus rating of Moderate Buy and a consensus price target of $70.09.

Regency Centers Trading Down 1.7 %

Shares of REG stock opened at $59.27 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 4.40 and a beta of 1.16. The firm has a 50-day moving average price of $59.33 and a 200 day moving average price of $61.71. Regency Centers has a twelve month low of $54.72 and a twelve month high of $68.47.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 4.52%. The ex-dividend date is Wednesday, June 12th. Regency Centers’s dividend payout ratio (DPR) is presently 130.73%.

Hedge Funds Weigh In On Regency Centers

A number of institutional investors have recently made changes to their positions in REG. Norges Bank acquired a new position in shares of Regency Centers in the 4th quarter valued at approximately $1,140,242,000. Invesco Ltd. raised its position in shares of Regency Centers by 115.7% during the 3rd quarter. Invesco Ltd. now owns 4,852,979 shares of the company’s stock valued at $288,461,000 after acquiring an additional 2,603,320 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Regency Centers by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 28,378,732 shares of the company’s stock valued at $1,686,832,000 after acquiring an additional 1,645,784 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Regency Centers by 16.5% during the 1st quarter. Principal Financial Group Inc. now owns 8,565,897 shares of the company’s stock valued at $518,751,000 after acquiring an additional 1,210,906 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Regency Centers by 22.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,492 shares of the company’s stock valued at $317,914,000 after acquiring an additional 964,488 shares in 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.