Regency Centers (NASDAQ:REG) Given New $77.00 Price Target at Evercore ISI

Regency Centers (NASDAQ:REG) had its price target reduced by Evercore ISI from $78.00 to $77.00 in a report issued on Tuesday,Benzinga reports. They currently have an in-line rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a “buy” rating to a “hold” rating and raised their target price for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. Robert W. Baird raised their price objective on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Compass Point raised their price target on Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, BTIG Research upped their price objective on Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Regency Centers currently has a consensus rating of “Moderate Buy” and an average price target of $77.42.

Regency Centers Price Performance

NASDAQ REG opened at $74.50 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The company has a market cap of $13.52 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 4.16 and a beta of 1.22. Regency Centers has a 52 week low of $56.51 and a 52 week high of $76.53. The firm’s 50-day simple moving average is $73.60 and its two-hundred day simple moving average is $69.96.

Regency Centers (NASDAQ:REG) last issued its earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The business had revenue of $360.27 million for the quarter, compared to the consensus estimate of $355.17 million. During the same period in the previous year, the firm earned $1.02 EPS. Research analysts predict that Regency Centers will post 4.28 earnings per share for the current year.

Regency Centers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be paid a $0.705 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.82 annualized dividend and a dividend yield of 3.79%. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is currently 132.39%.

Institutional Trading of Regency Centers

A number of institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its position in Regency Centers by 170.1% in the second quarter. Thrivent Financial for Lutherans now owns 80,107 shares of the company’s stock worth $4,983,000 after acquiring an additional 50,444 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Regency Centers by 60.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,618 shares of the company’s stock valued at $2,091,000 after purchasing an additional 12,682 shares in the last quarter. HighTower Advisors LLC grew its holdings in Regency Centers by 47.3% during the third quarter. HighTower Advisors LLC now owns 29,342 shares of the company’s stock valued at $2,121,000 after purchasing an additional 9,424 shares during the period. Trustmark National Bank Trust Department purchased a new stake in Regency Centers in the third quarter worth about $719,000. Finally, Royal London Asset Management Ltd. raised its stake in shares of Regency Centers by 9.3% in the third quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company’s stock worth $7,615,000 after buying an additional 8,959 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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.