Key Points
- Insider sale: Regency Centers insider Terah Devereaux sold 1,240 shares on June 12 at an average price of $80.14, totaling about $99,374. After the transaction, Devereaux still owned 17,990 shares.
- Stock performance and dividend: REG shares were down about 1.3% and traded near $79.26, close to their 52-week high of $81.66. The company also announced a quarterly dividend of $0.755 per share, implying a 3.8% annualized yield.
- Wall Street view: Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $82.27. Recent updates included target increases from UBS and Scotiabank, while Deutsche Bank downgraded the stock to Hold.
Regency Centers Corporation (NASDAQ:REG - Get Free Report) insider Terah Devereaux sold 1,240 shares of Regency Centers stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.14, for a total transaction of $99,373.60. Following the completion of the sale, the insider owned 17,990 shares in the company, valued at approximately $1,441,718.60. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Regency Centers Stock Down 1.3%
Shares of REG stock opened at $79.26 on Tuesday. The company's fifty day simple moving average is $78.46 and its two-hundred day simple moving average is $74.89. Regency Centers Corporation has a 52 week low of $66.86 and a 52 week high of $81.66. The stock has a market cap of $14.51 billion, a P/E ratio of 27.33, a PEG ratio of 3.40 and a beta of 0.81. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72.
Regency Centers Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be given a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, June 12th. Regency Centers's payout ratio is currently 104.14%.
Hedge Funds Weigh In On Regency Centers
Institutional investors and hedge funds have recently modified their holdings of the stock. Havemeyer Place LP bought a new position in shares of Regency Centers during the 4th quarter valued at approximately $26,000. Hantz Financial Services Inc. lifted its position in Regency Centers by 388.9% in the fourth quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock worth $30,000 after buying an additional 350 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in Regency Centers by 63.1% during the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after buying an additional 157 shares during the period. CYBER HORNET ETFs LLC purchased a new position in Regency Centers during the second quarter worth $31,000. Finally, MUFG Securities EMEA plc bought a new position in Regency Centers during the second quarter valued at $34,000. Hedge funds and other institutional investors own 96.07% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. UBS Group raised their price target on Regency Centers from $75.00 to $81.00 and gave the company a "neutral" rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft downgraded Regency Centers from a "buy" rating to a "hold" rating and set a $85.00 target price for the company. in a research report on Friday, May 29th. Scotiabank raised their target price on shares of Regency Centers from $76.00 to $82.00 and gave the company a "sector perform" rating in a report on Tuesday, March 24th. Weiss Ratings restated a "buy (b)" rating on shares of Regency Centers in a research report on Friday, May 29th. Finally, BTIG Research reiterated a "buy" rating and set a $85.00 price objective on shares of Regency Centers in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $82.27.
View Our Latest Stock Report on REG
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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