Regency Centers (NASDAQ:REG) Price Target Raised to $85.00 at Wells Fargo & Company

Regency Centers (NASDAQ:REG) had its price target increased by Wells Fargo & Company from $82.00 to $85.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on REG. Scotiabank cut their price objective on shares of Regency Centers from $78.00 to $76.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Royal Bank Of Canada raised shares of Regency Centers to a “sector perform” rating in a report on Friday, January 9th. KeyCorp restated a “sector weight” rating on shares of Regency Centers in a research report on Thursday, December 4th. Barclays raised their target price on shares of Regency Centers from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $76.00 price target (down from $81.00) on shares of Regency Centers in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.71.

Regency Centers Stock Up 0.4%

REG opened at $76.69 on Thursday. The stock has a market cap of $14.03 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 3.29 and a beta of 0.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s fifty day moving average is $74.98 and its 200 day moving average is $72.03. Regency Centers has a fifty-two week low of $63.44 and a fifty-two week high of $79.89.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.755 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.9%. Regency Centers’s dividend payout ratio is presently 107.86%.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 129,490 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $78.33, for a total transaction of $10,142,951.70. Following the completion of the sale, the chairman directly owned 195,892 shares in the company, valued at $15,344,220.36. This represents a 39.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 177,490 shares of company stock worth $13,839,932 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regency Centers

Institutional investors have recently bought and sold shares of the company. Norinchukin Bank The increased its position in shares of Regency Centers by 0.8% during the third quarter. Norinchukin Bank The now owns 17,730 shares of the company’s stock worth $1,293,000 after purchasing an additional 147 shares in the last quarter. Park Avenue Securities LLC grew its stake in Regency Centers by 5.2% during the 3rd quarter. Park Avenue Securities LLC now owns 3,040 shares of the company’s stock worth $222,000 after buying an additional 149 shares during the last quarter. Telos Capital Management Inc. grew its stake in Regency Centers by 2.9% during the 4th quarter. Telos Capital Management Inc. now owns 5,378 shares of the company’s stock worth $371,000 after buying an additional 153 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock worth $30,000 after acquiring an additional 157 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Regency Centers by 13.9% in the third quarter. Jones Financial Companies Lllp now owns 1,293 shares of the company’s stock worth $92,000 after acquiring an additional 158 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

About Regency Centers

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.