Regency Centers (NASDAQ:REG) Upgraded by Evercore ISI to “Strong-Buy” Rating

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

Other analysts have also recently issued research reports about the stock. Scotiabank raised their target price on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. 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 report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered Regency Centers from a “buy” rating to a “hold” rating and increased their target price for the company from $70.00 to $75.00 in a report on Thursday, September 26th. Raymond James raised their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, KeyCorp initiated 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 on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Regency Centers currently has an average rating of “Buy” and an average target price of $76.55.

Regency Centers Trading Up 0.4 %

Shares of REG stock opened at $72.70 on Tuesday. Regency Centers has a fifty-two week low of $56.51 and a fifty-two week high of $75.26. The company has a 50 day moving average price of $72.13 and a 200 day moving average price of $66.01. The stock has a market capitalization of $13.19 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 4.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Regency Centers (NASDAQ:REG) last released its 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). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The company had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same quarter last year, the business posted $1.02 earnings per share. Equities research analysts predict that Regency Centers will post 4.24 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Regency Centers

A number of hedge funds and other institutional investors have recently modified their holdings of REG. Vanguard Group Inc. grew its holdings in shares of Regency Centers by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock worth $1,749,520,000 after acquiring an additional 830,572 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Regency Centers by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after purchasing an additional 873,062 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Regency Centers by 4.2% in the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock valued at $555,009,000 after buying an additional 357,091 shares in the last quarter. Boston Partners raised its stake in shares of Regency Centers by 4.1% during the 1st quarter. Boston Partners now owns 4,192,951 shares of the company’s stock worth $253,902,000 after buying an additional 166,354 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Regency Centers by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,641,921 shares of the company’s stock worth $164,327,000 after buying an additional 117,368 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.