Regency Centers (NASDAQ:REG) Downgraded to “Inline” at Evercore ISI

Regency Centers (NASDAQ:REG) was downgraded by equities researchers at Evercore ISI from an “outperform” rating to an “inline” rating in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $75.00 price target on the stock, up from their previous price target of $72.00. Evercore ISI’s price target would suggest a potential upside of 0.43% from the stock’s previous close.

REG has been the subject of a number of other reports. Scotiabank upped their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Truist Financial upped their price target on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Raymond James raised their price objective on 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. boosted their price objective on Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Compass Point increased their target price on Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Regency Centers currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.55.

Regency Centers Stock Performance

NASDAQ REG opened at $74.68 on Monday. The company has a market capitalization of $13.55 billion, a P/E ratio of 36.43, a P/E/G ratio of 4.63 and a beta of 1.21. Regency Centers has a 12-month low of $56.29 and a 12-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 firm has a 50-day moving average price of $69.14 and a two-hundred day moving average price of $63.35.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data 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). Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. The business had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. During the same quarter in the prior year, the company earned $1.03 earnings per share. Analysts anticipate that Regency Centers will post 4.23 earnings per share for the current year.

Insider Transactions at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction 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 sale, the chairman now directly owns 307,199 shares in the company, valued at $21,503,930. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, VP Michael R. Herman sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the transaction, the vice president now owns 13,010 shares in the company, valued at approximately $905,105.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $21,503,930. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Regency Centers

Institutional investors have recently made changes to their positions in the stock. PGGM Investments raised its stake in Regency Centers by 2,586.9% during the 2nd quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock worth $103,912,000 after buying an additional 1,608,431 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Regency Centers by 16.5% during the first quarter. Principal Financial Group Inc. now owns 8,565,897 shares of the company’s stock valued at $518,751,000 after acquiring an additional 1,210,906 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Regency Centers by 10.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock worth $547,995,000 after purchasing an additional 873,062 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Regency Centers by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock worth $1,749,520,000 after purchasing an additional 830,572 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Regency Centers by 67.0% in the 1st quarter. Russell Investments Group Ltd. now owns 987,147 shares of the company’s stock valued at $59,768,000 after purchasing an additional 395,901 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.