Regency Centers Co. (NASDAQ:REG – Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 3,330,000 shares, a drop of 17.2% from the July 31st total of 4,020,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is currently 3.2 days.
Analysts Set New Price Targets
Several research analysts recently issued reports on REG shares. Bank of America cut their price objective on Regency Centers from $79.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. Barclays upped their price target on shares of Regency Centers from $70.00 to $71.00 in a research report on Friday, May 19th. Truist Financial decreased their price objective on shares of Regency Centers from $73.00 to $71.00 in a research report on Monday, May 15th. Finally, StockNews.com started coverage on shares of Regency Centers in a research note on Wednesday, August 23rd. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.89.
Regency Centers Stock Performance
Shares of REG opened at $61.19 on Monday. The company’s 50 day moving average price is $62.99 and its 200 day moving average price is $60.52. Regency Centers has a 52 week low of $51.97 and a 52 week high of $68.56. The company has a market capitalization of $10.46 billion, a PE ratio of 28.59, a PEG ratio of 3.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.78 and a current ratio of 0.78.
Regency Centers (NASDAQ:REG – Get Free Report) last posted its earnings results on Friday, August 4th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.51). The business had revenue of $314.25 million during the quarter, compared to the consensus estimate of $313.32 million. Regency Centers had a return on equity of 5.75% and a net margin of 29.33%. During the same period in the prior year, the firm earned $1.00 earnings per share. Research analysts expect that Regency Centers will post 4.14 EPS for the current fiscal year.
Regency Centers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Wednesday, September 13th. Regency Centers’s payout ratio is 121.50%.
Insider Buying and Selling
In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 125,000 shares of Regency Centers stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $66.51, for a total value of $8,313,750.00. Following the sale, the chairman now owns 343,399 shares of the company’s stock, valued at approximately $22,839,467.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Martin E. Stein, Jr. sold 125,000 shares of Regency Centers stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $66.51, for a total transaction of $8,313,750.00. Following the completion of the sale, the chairman now directly owns 343,399 shares in the company, valued at approximately $22,839,467.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas Andrew Wibbenmeyer sold 900 shares of Regency Centers stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $66.39, for a total transaction of $59,751.00. Following the sale, the executive vice president now owns 18,749 shares of the company’s stock, valued at $1,244,746.11. 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 added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in Regency Centers by 46.2% in the 1st quarter. HighTower Advisors LLC now owns 18,448 shares of the company’s stock valued at $1,309,000 after acquiring an additional 5,833 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Regency Centers during the 1st quarter worth approximately $243,000. MetLife Investment Management LLC grew its position in shares of Regency Centers by 24.0% during the 1st quarter. MetLife Investment Management LLC now owns 42,220 shares of the company’s stock worth $3,012,000 after buying an additional 8,175 shares during the period. Panagora Asset Management Inc. grew its position in shares of Regency Centers by 125.3% during the 1st quarter. Panagora Asset Management Inc. now owns 10,723 shares of the company’s stock worth $765,000 after buying an additional 5,964 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Regency Centers by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,618 shares of the company’s stock worth $1,471,000 after buying an additional 1,277 shares during the period. 90.59% of the stock is owned by 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.