Jefferies Group set a $62.00 price target on Regency Centers (NYSE:REG) in a report released on Friday. The brokerage currently has a hold rating on the real estate investment trust’s stock. Jefferies Group also issued estimates for Regency Centers’ Q1 2018 earnings at $0.85 EPS and FY2018 earnings at $3.73 EPS.
A number of other brokerages have also commented on REG. BMO Capital Markets set a $68.00 target price on Regency Centers and gave the company a hold rating in a research report on Thursday, January 11th. Boenning Scattergood reaffirmed a hold rating on shares of Regency Centers in a research report on Tuesday, January 16th. BTIG Research raised Regency Centers from a neutral rating to a buy rating and set a $72.00 target price for the company in a research report on Monday, January 29th. TheStreet lowered Regency Centers from a b- rating to a c rating in a research report on Thursday, February 8th. Finally, Zacks Investment Research lowered Regency Centers from a hold rating to a sell rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $68.89.
Shares of NYSE:REG opened at $58.53 on Friday. The stock has a market capitalization of $9,972.69, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.94. Regency Centers has a 1 year low of $54.87 and a 1 year high of $70.64.
Regency Centers (NYSE:REG) last announced its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.42). The business had revenue of $257.95 million during the quarter, compared to analyst estimates of $257.60 million. Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. During the same period in the prior year, the firm earned $0.86 earnings per share. equities research analysts forecast that Regency Centers will post 3.8 EPS for the current fiscal year.
Regency Centers announced that its Board of Directors has approved a share repurchase program on Thursday, February 8th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In other Regency Centers news, insider H Craig Ramey sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $59.11, for a total transaction of $82,754.00. Following the completion of the sale, the insider now directly owns 18,337 shares of the company’s stock, valued at approximately $1,083,900.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Chaim Katzman sold 257,076 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $64.33, for a total value of $16,537,699.08. The disclosure for this sale can be found here. Insiders have sold a total of 2,095,240 shares of company stock valued at $122,811,931 over the last three months. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of REG. Cbre Clarion Securities LLC increased its holdings in Regency Centers by 24.3% during the 4th quarter. Cbre Clarion Securities LLC now owns 5,093,711 shares of the real estate investment trust’s stock worth $352,383,000 after purchasing an additional 997,435 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Regency Centers by 41.1% in the fourth quarter. Deutsche Bank AG now owns 1,924,306 shares of the real estate investment trust’s stock valued at $133,118,000 after acquiring an additional 560,348 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Regency Centers by 95.5% in the fourth quarter. Alliancebernstein L.P. now owns 654,923 shares of the real estate investment trust’s stock valued at $45,308,000 after acquiring an additional 319,918 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Regency Centers by 50.0% in the fourth quarter. American Century Companies Inc. now owns 923,620 shares of the real estate investment trust’s stock valued at $63,896,000 after acquiring an additional 307,671 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Regency Centers by 1.4% in the fourth quarter. BlackRock Inc. now owns 15,413,941 shares of the real estate investment trust’s stock valued at $1,066,338,000 after acquiring an additional 214,023 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.
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Regency Centers Company Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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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