Regency Centers (NASDAQ:REG – Get a Free Report) The price target was raised by analysts at Raymond James from $67.00 to $75.00 in a note to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target suggests a potential upside of 7.50% from the company’s last closing price.
REG has been the subject of several other reports. JPMorgan Chase & Co. raised their price target on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Scotiabank decreased their price target on shares of Regency Centers from $68.00 to $65.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Truist Financial raised their price target on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Friday. Finally, Mizuho upgraded Regency Centers from a “neutral” rating to an “outperform” rating and increased their price target on the stock from $61.00 to $67.00 in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and eleven have given the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $72.33.
Read our latest stock analysis on Regency Centers
Price development at Regency Centers
REG stock opened at $69.77 on Friday. Regency Centers has a 1-year low of $56.29 and a 1-year high of $71.30. The company has a market cap of $12.89 billion, a P/E ratio of 34.03, a PEG ratio of 5.10 and a beta of 1.21. 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 company’s 50-day moving average is $64.77 and its 200-day moving average is $61.77.
Regency Centers (NASDAQ:REG – Get Free Report) released its last earnings results on Thursday, August 1. The company reported earnings per share of $0.54 for the quarter, missing the consensus estimate of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The company had revenue of $357.25 million for the quarter, compared to analyst estimates of $361.56 million. During the same period last year, the company generated earnings per share of $1.03. Analysts expect Regency Centers to report earnings per share of $4.22 for the current fiscal year.
Insider transactions in Regency Centers
In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock on Friday, August 2. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the Chairman now owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.
Institutional trading with Regency Centers
Hedge funds have recently changed their holdings in the company. Norges Bank acquired a new stake in Regency Centers in the fourth quarter valued at $1,140,242,000. PGGM Investments increased its holdings in shares of Regency Centers by 2,586.9% in the second quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after buying an additional 1,608,431 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Regency Centers by 16.5% in the first quarter. Principal Financial Group Inc. now owns 8,565,897 shares of the company’s stock valued at $518,751,000 after buying an additional 1,210,906 shares during the same period. Price T Rowe Associates Inc. MD increased its holdings in Regency Centers by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after purchasing an additional 873,062 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Regency Centers by 3.0% in the first quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock valued at $1,749,520,000 after purchasing an additional 830,572 shares during the same period. 96.07% of the shares are owned by institutional investors and hedge funds.
About Regency Centers
(Get free report)
Regency Centers is a preeminent national owner, operator and developer of suburban shopping centers with attractive demographics. Our portfolio includes thriving properties with high-productivity grocery stores, restaurants, service providers and best-in-class retailers that connect with their neighborhoods, communities and customers.
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