Regency Centers (NYSE:REG) has been assigned a $71.00 price target by Morgan Stanley in a research report issued on Thursday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Morgan Stanley’s target price would indicate a potential upside of 15.00% from the stock’s current price.
A number of other analysts have also recently weighed in on REG. ValuEngine raised Regency Centers from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $65.00 price objective on shares of Regency Centers in a research report on Tuesday, September 25th. Citigroup increased their price objective on Regency Centers from $66.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, August 17th. Deutsche Bank raised Regency Centers from a “hold” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $72.00 in a research report on Tuesday, August 28th. Finally, TheStreet raised Regency Centers from a “c+” rating to a “b-” rating in a research report on Friday, July 27th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Regency Centers currently has a consensus rating of “Buy” and an average target price of $69.36.
Regency Centers stock opened at $61.74 on Thursday. Regency Centers has a twelve month low of $54.87 and a twelve month high of $70.64. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 2.43 and a beta of 0.41.
Regency Centers (NYSE:REG) last posted its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Regency Centers had a return on equity of 3.83% and a net margin of 22.90%. The company had revenue of $274.53 million for the quarter, compared to analyst estimates of $269.18 million. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, research analysts forecast that Regency Centers will post 3.79 EPS for the current year.
In other news, insider H Craig Ramey sold 1,365 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $63.27, for a total transaction of $86,363.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Andrew Wibbenmeyer sold 2,095 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $65.81, for a total value of $137,871.95. Following the transaction, the insider now directly owns 2,086 shares of the company’s stock, valued at $137,279.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,260 shares of company stock valued at $532,456. Company insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REG. Millennium Management LLC increased its stake in Regency Centers by 120.3% in the 2nd quarter. Millennium Management LLC now owns 2,487,328 shares of the real estate investment trust’s stock valued at $154,413,000 after purchasing an additional 1,358,035 shares in the last quarter. Centersquare Investment Management LLC increased its stake in Regency Centers by 53.0% in the 2nd quarter. Centersquare Investment Management LLC now owns 3,258,097 shares of the real estate investment trust’s stock valued at $202,263,000 after purchasing an additional 1,129,162 shares in the last quarter. Morgan Stanley increased its stake in Regency Centers by 25.3% in the 2nd quarter. Morgan Stanley now owns 3,207,953 shares of the real estate investment trust’s stock valued at $199,149,000 after purchasing an additional 648,680 shares in the last quarter. Laurion Capital Management LP purchased a new position in Regency Centers in the 2nd quarter valued at approximately $38,119,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Regency Centers by 1,661.1% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 221,900 shares of the real estate investment trust’s stock valued at $13,776,000 after purchasing an additional 209,300 shares in the last quarter. 93.43% of the stock is owned by hedge funds and other institutional investors.
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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