Key Points
- Chairman Martin Stein, Jr. sold 274,615 shares of Regency Centers on May 4 at an average price of $78.40, a transaction totaling about $21.53 million, according to an SEC filing.
- Institutional ownership is very high (96.07%), with large recent buys including Norges Bank’s new stake (~$1.18 billion) and Principal Financial Group boosting its position to roughly 10.0 million shares (~$757 million).
- Analysts are broadly constructive with a consensus rating of "Moderate Buy" and a $81.00 target price, and several firms have raised their price targets into the low-to-mid $80s.
Regency Centers Corporation (NASDAQ:REG - Get Free Report) Chairman Martin Stein, Jr. sold 274,615 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Regency Centers Price Performance
REG stock opened at $78.89 on Wednesday. The firm has a market cap of $14.44 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.38 and a beta of 0.82. The company has a quick ratio of 1.05, a current ratio of 2.06 and a debt-to-equity ratio of 0.72. The company's fifty day simple moving average is $77.88 and its 200 day simple moving average is $73.37. Regency Centers Corporation has a 12-month low of $66.86 and a 12-month high of $81.66.
Institutional Investors Weigh In On Regency Centers
Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Regency Centers during the 4th quarter valued at $1,183,667,000. Massachusetts Financial Services Co. MA purchased a new position in Regency Centers during the 3rd quarter valued at $107,144,000. Principal Financial Group Inc. increased its position in shares of Regency Centers by 10.3% during the first quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company's stock valued at $756,967,000 after buying an additional 931,272 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Regency Centers in the 4th quarter worth about $56,480,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Regency Centers by 75.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company's stock worth $124,680,000 after purchasing an additional 775,609 shares in the last quarter. Institutional investors own 96.07% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Citigroup raised their price objective on shares of Regency Centers from $76.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday. Truist Financial lifted their target price on Regency Centers from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Wells Fargo & Company upped their price objective on Regency Centers from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Barclays raised their target price on Regency Centers from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Finally, Scotiabank boosted their price target on shares of Regency Centers from $76.00 to $82.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Regency Centers has a consensus rating of "Moderate Buy" and a consensus target price of $81.00.
Check Out Our Latest Analysis on Regency Centers
Regency Centers Company Profile
(
Get Free Report)
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.
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