Regency Centers (NASDAQ:REG) Price Target Raised to $82.00 at Scotiabank

Regency Centers (NASDAQ:REG) had its target price boosted by Scotiabank from $76.00 to $82.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other brokerages have also weighed in on REG. KeyCorp reiterated a “sector weight” rating on shares of Regency Centers in a research report on Thursday, December 4th. Robert W. Baird set a $84.00 target price on Regency Centers in a report on Tuesday, February 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Regency Centers in a research note on Monday, January 5th. Citigroup boosted their price objective on shares of Regency Centers from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Finally, UBS Group set a $76.00 price objective on shares of Regency Centers in a report on Wednesday, January 14th. One research 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.14.

Regency Centers Stock Performance

Regency Centers stock opened at $74.58 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average of $75.26 and a 200-day moving average of $72.05. The firm has a market cap of $13.64 billion, a P/E ratio of 26.64, a P/E/G ratio of 3.21 and a beta of 0.91. Regency Centers has a 1-year low of $63.44 and a 1-year high of $79.89.

Regency Centers Dividend Announcement

The business 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 $0.755 dividend. This represents a $3.02 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, March 11th. Regency Centers’s payout ratio is currently 107.86%.

Insider Transactions at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 129,490 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $78.33, for a total transaction of $10,142,951.70. Following the sale, the chairman directly owned 195,892 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. In the last quarter, insiders have sold 177,490 shares of company stock valued at $13,839,932. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in REG. AQR Capital Management LLC increased its holdings in shares of Regency Centers by 15.4% in the 1st quarter. AQR Capital Management LLC now owns 64,337 shares of the company’s stock worth $4,701,000 after purchasing an additional 8,563 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Regency Centers by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,894 shares of the company’s stock valued at $1,099,000 after purchasing an additional 557 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Regency Centers by 9.6% during the first quarter. Empowered Funds LLC now owns 5,856 shares of the company’s stock valued at $432,000 after buying an additional 511 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Regency Centers by 81.5% during the first quarter. Jane Street Group LLC now owns 8,247 shares of the company’s stock valued at $608,000 after buying an additional 3,702 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in Regency Centers by 47.6% in the 1st quarter. Intech Investment Management LLC now owns 20,011 shares of the company’s stock worth $1,476,000 after buying an additional 6,451 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Regency Centers Company Profile

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.