Regency Centers (NASDAQ:REG) Stock Price Down 0.7% – Here’s What Happened

Shares of Regency Centers Co. (NASDAQ:REG) were down 0.7% on Friday . The company traded as low as $70.76 and last traded at $71.54. Approximately 430,871 shares changed hands during trading, a decline of 57% from the average daily volume of 1,001,258 shares. The stock had previously closed at $72.04.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on REG shares. Wells Fargo & Company lowered their price objective on Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. BTIG Research lifted their price objective on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Evercore ISI lowered their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Finally, Mizuho boosted their price target on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Three 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’s stock. According to data from MarketBeat.com, Regency Centers presently has a consensus rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Trading Down 0.7 %

The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $72.97 and a 200-day simple moving average of $73.00. The firm has a market cap of $12.97 billion, a P/E ratio of 33.73, a P/E/G ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. On average, equities research analysts expect that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s payout ratio is currently 133.02%.

Insider Activity at Regency Centers

In other Regency Centers news, CFO Michael J. Mas sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the sale, the chief financial officer now directly owns 54,020 shares in the company, valued at approximately $3,975,872. This represents a 27.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total value of $3,674,000.00. Following the completion of the sale, the chairman now owns 110,263 shares of the company’s stock, valued at $8,102,125.24. This represents a 31.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock worth $6,977,500 in the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regency Centers

Several hedge funds have recently made changes to their positions in REG. Heck Capital Advisors LLC purchased a new stake in shares of Regency Centers during the 4th quarter worth $26,000. National Pension Service purchased a new stake in shares of Regency Centers during the 4th quarter worth $27,000. TD Waterhouse Canada Inc. lifted its stake in shares of Regency Centers by 48,700.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company’s stock worth $36,000 after purchasing an additional 487 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Regency Centers during the 4th quarter worth $39,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Regency Centers during the 4th quarter worth $54,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.