Regency Centers (NASDAQ:REG) Hits New 1-Year High – Should You Buy?

Regency Centers Co. (NASDAQ:REG)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $76.56 and last traded at $76.56, with a volume of 29472 shares. The stock had previously closed at $75.56.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. BTIG Research raised their target price on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised their target price on shares of Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho raised their price target on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, Evercore ISI reduced their price target on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Stock Up 1.5 %

The business’s 50 day moving average is $72.75 and its 200 day moving average is $72.78. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 3.75 and a beta of 1.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. Sell-side analysts anticipate that Regency Centers Co. will post 4.54 earnings per share for the current year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s dividend payout ratio (DPR) is 133.02%.

Insider Activity

In related news, CEO Lisa Palmer sold 25,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the sale, the chief executive officer now owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. The trade was a 15.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael J. Mas sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the completion of the sale, the chief financial officer now directly owns 54,020 shares of the company’s stock, valued at approximately $3,975,872. The trade was a 27.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently modified their holdings of the business. Glenmede Trust Co. NA grew its holdings in shares of Regency Centers by 4.4% during the third quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company’s stock worth $244,000 after buying an additional 141 shares in the last quarter. State of Wyoming boosted its position in shares of Regency Centers by 11.3% during the 4th quarter. State of Wyoming now owns 1,543 shares of the company’s stock valued at $114,000 after acquiring an additional 157 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Regency Centers by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,950 shares of the company’s stock valued at $286,000 after acquiring an additional 163 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Regency Centers by 3.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,845 shares of the company’s stock valued at $356,000 after acquiring an additional 164 shares during the last quarter. Finally, Greenleaf Trust boosted its position in shares of Regency Centers by 3.8% during the 4th quarter. Greenleaf Trust now owns 4,735 shares of the company’s stock valued at $350,000 after acquiring an additional 172 shares during the last quarter. 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.