Regency Centers (NASDAQ:REG) Earns Overweight Rating from Analysts at KeyCorp

Research analysts at KeyCorp initiated coverage on shares of Regency Centers (NASDAQ:REG) in a report released on Friday, Briefing.com reports. The firm set an “overweight” rating and a $80.00 price target on the stock. KeyCorp’s price target would indicate a potential upside of 11.11% from the company’s previous close.

A number of other brokerages have also recently commented on REG. Raymond James upped their target price on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Mizuho lifted their target price on Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Scotiabank upped their price target on Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Compass Point raised their price objective on Regency Centers from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.55.

Regency Centers Stock Performance

Shares of REG stock opened at $72.00 on Friday. Regency Centers has a 12 month low of $56.51 and a 12 month high of $75.26. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $13.07 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 4.48 and a beta of 1.21. The company’s fifty day moving average price is $72.00 and its 200-day moving average price is $65.60.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.48). The company had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, equities analysts expect that Regency Centers will post 4.24 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Herman sold 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total value of $69,570.00. Following the transaction, the vice president now owns 13,010 shares of the company’s stock, valued at approximately $905,105.70. This represents a 0.00 % decrease in their ownership of the stock. 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 large investors have recently made changes to their positions in the company. PGGM Investments lifted its position in Regency Centers by 2,586.9% in the second quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after acquiring an additional 1,608,431 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Regency Centers by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock worth $547,995,000 after buying an additional 873,062 shares during the last quarter. Vanguard Group Inc. lifted its stake in Regency Centers by 3.0% in the first quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock valued at $1,749,520,000 after buying an additional 830,572 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Regency Centers by 67.0% during the first quarter. Russell Investments Group Ltd. now owns 987,147 shares of the company’s stock worth $59,768,000 after acquiring an additional 395,901 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Regency Centers by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock valued at $555,009,000 after purchasing an additional 357,091 shares during the last quarter. 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.