Regency Centers (NASDAQ:REG) Shares Down 0.9% – Here’s What Happened

Regency Centers Co. (NASDAQ:REG)’s stock price dropped 0.9% during trading on Monday . The stock traded as low as $65.98 and last traded at $68.18. Approximately 465,357 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 1,061,115 shares. The stock had previously closed at $68.77.

Analyst Ratings Changes

REG has been the topic of several analyst reports. Wells Fargo & Company cut their target price on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Evercore ISI dropped their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Finally, Mizuho boosted their target price on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Regency Centers Price Performance

The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average is $73.12 and its 200 day moving average is $72.87. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 3.75 and a beta of 1.03.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data 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 predict that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Wednesday, March 12th. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were 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 directly owns 110,263 shares in the company, valued at approximately $8,102,125.24. This trade represents a 31.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total value of $1,831,500.00. Following the transaction, the chief executive officer now owns 139,923 shares of the company’s stock, valued at $10,250,758.98. The trade was a 15.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,000 shares of company stock valued at $6,977,500. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Regency Centers

A number of large investors have recently added to or reduced their stakes in REG. Norges Bank acquired a new stake in shares of Regency Centers during the 4th quarter worth about $1,262,425,000. Invesco Ltd. raised its holdings in Regency Centers by 121.2% in the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock valued at $397,333,000 after acquiring an additional 2,944,854 shares during the period. Northern Trust Corp lifted its position in Regency Centers by 64.1% during the fourth quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock worth $205,645,000 after acquiring an additional 1,086,797 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Regency Centers by 51.7% during the fourth quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock worth $159,363,000 after acquiring an additional 734,210 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Regency Centers by 137.2% in the fourth quarter. California Public Employees Retirement System now owns 776,521 shares of the company’s stock valued at $57,408,000 after purchasing an additional 449,110 shares during the last quarter. Institutional investors 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.