Shares of Regency Centers Co. (NYSE:REG) have earned an average rating of “Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $68.50.
Several research analysts have weighed in on REG shares. Wells Fargo reaffirmed an “outperform” rating and set a $65.00 price target (down previously from $76.00) on shares of Regency Centers in a research report on Friday, March 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a research report on Monday, February 12th. Robert W. Baird reaffirmed a “buy” rating and set a $68.00 price target on shares of Regency Centers in a research report on Wednesday, March 21st. Deutsche Bank lowered their price target on Regency Centers from $73.00 to $72.00 and set a “hold” rating on the stock in a research report on Monday, March 19th. Finally, TheStreet downgraded Regency Centers from a “b-” rating to a “c” rating in a research note on Thursday, February 8th.
NYSE:REG opened at $56.12 on Wednesday. The company has a market cap of $9,752.37, a price-to-earnings ratio of 15.43, a P/E/G ratio of 2.14 and a beta of 0.47. Regency Centers has a twelve month low of $54.87 and a twelve month high of $70.64. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53.
Regency Centers (NYSE:REG) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.42). The company had revenue of $257.95 million for the quarter, compared to analyst estimates of $257.60 million. Regency Centers had a return on equity of 2.71% and a net margin of 18.16%. During the same period last year, the firm earned $0.86 EPS. research analysts forecast that Regency Centers will post 3.8 EPS for the current fiscal year.
Regency Centers declared that its Board of Directors has approved a stock buyback program on Thursday, February 8th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other Regency Centers news, Director Bryce Blair bought 1,739 shares of Regency Centers stock in a transaction dated Monday, March 19th. The stock was bought at an average cost of $57.50 per share, for a total transaction of $99,992.50. Following the purchase, the director now owns 10,842 shares of the company’s stock, valued at approximately $623,415. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Chaim Katzman sold 257,076 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were 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 2,077,640 shares of company stock valued at $121,684,475 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB boosted its stake in Regency Centers by 2.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 75,555 shares of the real estate investment trust’s stock valued at $5,227,000 after purchasing an additional 1,856 shares during the period. MetLife Investment Advisors LLC bought a new stake in Regency Centers in the 4th quarter valued at $3,167,000. Gotham Asset Management LLC boosted its stake in Regency Centers by 11.3% in the 4th quarter. Gotham Asset Management LLC now owns 22,519 shares of the real estate investment trust’s stock valued at $1,558,000 after purchasing an additional 2,289 shares during the period. Macquarie Group Ltd. boosted its stake in Regency Centers by 9.5% in the 4th quarter. Macquarie Group Ltd. now owns 468,067 shares of the real estate investment trust’s stock valued at $29,725,000 after purchasing an additional 40,732 shares during the period. Finally, Verition Fund Management LLC boosted its stake in Regency Centers by 104.3% in the 4th quarter. Verition Fund Management LLC now owns 11,571 shares of the real estate investment trust’s stock valued at $800,000 after purchasing an additional 5,906 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.
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About Regency Centers
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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