Regency Centers (NASDAQ:REG) Upgraded by KeyCorp to “Strong-Buy”

KeyCorp upgraded shares of Regency Centers (NASDAQ:REG) to a strong-buy rating in a research report released on Thursday, Zacks.com reports.

Several other brokerages have also recently weighed in on REG. Truist Financial boosted their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Evercore ISI cut Regency Centers from an “outperform” rating to an “inline” rating and increased their price target for the company from $72.00 to $75.00 in a research note on Monday, September 16th. Raymond James lifted their price objective on Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Scotiabank increased their target price on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Mizuho boosted their price target on shares of Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Regency Centers currently has an average rating of “Moderate Buy” and an average price target of $76.55.

Regency Centers Trading Down 1.4 %

NASDAQ REG opened at $71.01 on Thursday. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 4.48 and a beta of 1.21. Regency Centers has a twelve month low of $56.51 and a twelve month high of $75.26. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average is $72.03 and its 200 day moving average is $65.68.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The firm had revenue of $357.25 million for the quarter, compared to analyst estimates of $361.56 million. During the same period in the previous year, the business posted $1.03 earnings per share. As a group, sell-side analysts expect that Regency Centers will post 4.24 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, September 12th. Regency Centers’s payout ratio is 130.73%.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was 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 directly owns 307,199 shares in the company, valued at $21,503,930. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the completion of the transaction, the vice president now directly owns 13,010 shares in the company, valued at $905,105.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now owns 307,199 shares in the company, valued at $21,503,930. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REG. Fidelis Capital Partners LLC bought a new position in Regency Centers during the 1st quarter valued at $27,000. Quest Partners LLC raised its holdings in shares of Regency Centers by 25,250.0% in the second quarter. Quest Partners LLC now owns 507 shares of the company’s stock valued at $32,000 after purchasing an additional 505 shares during the last quarter. Family Firm Inc. bought a new position in shares of Regency Centers during the second quarter valued at about $44,000. Blue Trust Inc. boosted its holdings in Regency Centers by 582.1% during the second quarter. Blue Trust Inc. now owns 839 shares of the company’s stock worth $51,000 after purchasing an additional 716 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Regency Centers in the 1st quarter worth about $52,000. 96.07% of the stock is owned by institutional investors.

Regency Centers Company Profile

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.