Regency Centers (NASDAQ:REG) Raised to “Strong-Buy” at KeyCorp

KeyCorp upgraded shares of Regency Centers (NASDAQ:REG) to a strong-buy rating in a research note published on Thursday morning, Zacks.com reports.

Other equities analysts have also issued research reports about the company. Compass Point lifted their price target on Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft downgraded Regency Centers from a “buy” rating to a “hold” rating and raised their price objective for the company from $70.00 to $75.00 in a report on Thursday, September 26th. Wells Fargo & Company upped their target price on Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Scotiabank boosted their price target on Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Raymond James raised their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.55.

Regency Centers Stock Performance

Shares of NASDAQ REG opened at $71.01 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of 34.64, a P/E/G ratio of 4.48 and a beta of 1.21. The stock’s fifty day moving average price is $72.03 and its two-hundred day moving average price is $65.72. Regency Centers has a one year low of $56.51 and a one year high of $75.26.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The business had revenue of $357.25 million during the quarter, compared to the consensus estimate of $361.56 million. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities analysts forecast that Regency Centers will post 4.24 EPS for the current year.

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, September 12th. Regency Centers’s payout ratio is currently 130.73%.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total value of $69,570.00. Following the sale, the vice president now directly owns 13,010 shares in the company, valued at $905,105.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction 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 transaction, the chairman now owns 307,199 shares of the company’s stock, valued at $21,503,930. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC bought a new stake in shares of Regency Centers during the first quarter valued at about $27,000. Quest Partners LLC increased its holdings in Regency Centers by 25,250.0% during the 2nd quarter. Quest Partners LLC now owns 507 shares of the company’s stock worth $32,000 after acquiring an additional 505 shares during the period. Family Firm Inc. purchased a new stake in Regency Centers in the 2nd quarter worth approximately $44,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Regency Centers by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Regency Centers by 582.1% during the 2nd quarter. Blue Trust Inc. now owns 839 shares of the company’s stock valued at $51,000 after purchasing an additional 716 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Company Profile

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.