Regency Centers (NASDAQ:REG) Price Target Raised to $77.00 at JPMorgan Chase & Co.

Regency Centers (NASDAQ:REG) had its target price hoisted by JPMorgan Chase & Co. from $71.00 to $77.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on REG. Scotiabank dropped their price target on Regency Centers from $68.00 to $65.00 and set a sector perform rating on the stock in a research report on Thursday, May 16th. Mizuho raised Regency Centers from a neutral rating to an outperform rating and upped their price target for the company from $61.00 to $67.00 in a research report on Tuesday, July 9th. Finally, Truist Financial dropped their price target on Regency Centers from $72.00 to $70.00 and set a buy rating on the stock in a research report on Monday, May 20th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $71.17.

Regency Centers Stock Up 0.7 %

Shares of NASDAQ REG traded up $0.52 during midday trading on Thursday, hitting $70.41. 785,757 shares of the stock traded hands, compared to its average volume of 1,153,695. The company has a market cap of $13.01 billion, a PE ratio of 34.35, a P/E/G ratio of 5.13 and a beta of 1.21. Regency Centers has a one year low of $56.29 and a one year high of $71.30. The business has a 50 day moving average price of $63.93 and a two-hundred day moving average price of $61.55. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.37.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.48). Regency Centers had a return on equity of 5.58% and a net margin of 27.60%. The company had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. During the same quarter last year, the company posted $1.03 EPS. On average, equities analysts predict that Regency Centers will post 4.21 EPS for the current year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Thursday, September 12th. Regency Centers’s payout ratio is presently 130.73%.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chairman now owns 307,199 shares in the company, valued at approximately $21,503,930. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regency Centers

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in shares of Regency Centers by 6,591.3% in the fourth quarter. International Assets Investment Management LLC now owns 16,862 shares of the company’s stock worth $1,130,000 after purchasing an additional 16,610 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Regency Centers by 10.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 102,316 shares of the company’s stock worth $6,894,000 after purchasing an additional 9,548 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Regency Centers by 13.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,340 shares of the company’s stock worth $2,100,000 after purchasing an additional 3,693 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Regency Centers in the fourth quarter worth $255,000. Finally, NewEdge Wealth LLC purchased a new position in shares of Regency Centers in the fourth quarter worth $275,000. 96.07% of the stock is owned by institutional investors.

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.