Regency Centers (NASDAQ:REG) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Regency Centers (NASDAQ:REG) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Several other research firms also recently commented on REG. UBS Group boosted their target price on shares of Regency Centers from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. BTIG Research reaffirmed a “buy” rating and issued a $85.00 price target on shares of Regency Centers in a research report on Friday, June 12th. Deutsche Bank Aktiengesellschaft downgraded Regency Centers from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a research note on Friday, May 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Regency Centers in a report on Friday, May 29th. Finally, Evercore set a $81.00 price objective on Regency Centers in a report on Tuesday, July 7th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.06.

Regency Centers Stock Performance

Shares of REG stock opened at $82.15 on Thursday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $79.35 and a two-hundred day simple moving average of $77.11. Regency Centers has a 12 month low of $66.86 and a 12 month high of $83.66. The firm has a market capitalization of $15.04 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 3.48 and a beta of 0.80.

Regency Centers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, June 12th. Regency Centers’s dividend payout ratio (DPR) is presently 104.14%.

Insider Buying and Selling

In related news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Terah L. Devereaux sold 1,240 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the completion of the sale, the insider directly owned 17,990 shares of the company’s stock, valued at $1,441,718.60. The trade was a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 283,782 shares of company stock worth $22,255,898. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Regency Centers

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Regency Centers by 15.4% during the first quarter. AQR Capital Management LLC now owns 64,337 shares of the company’s stock worth $4,701,000 after acquiring an additional 8,563 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Regency Centers by 3.9% in the 1st 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 during the period. Empowered Funds LLC grew its stake in Regency Centers by 9.6% in the 1st quarter. Empowered Funds LLC now owns 5,856 shares of the company’s stock valued at $432,000 after purchasing an additional 511 shares during the period. Jane Street Group LLC increased its position in shares of Regency Centers by 81.5% during the 1st quarter. Jane Street Group LLC now owns 8,247 shares of the company’s stock valued at $608,000 after purchasing an additional 3,702 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Regency Centers by 47.6% during the 1st quarter. Intech Investment Management LLC now owns 20,011 shares of the company’s stock valued at $1,476,000 after purchasing an additional 6,451 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

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.