Regency Centers (NYSE:REG) Upgraded at Scotiabank

Scotiabank upgraded shares of Regency Centers (NYSE:REG) from a sector perform rating to a sector outperform rating in a research report released on Friday morning, The Fly reports. The firm currently has $72.00 target price on the real estate investment trust’s stock, up from their previous target price of $68.00.

Several other research analysts also recently weighed in on REG. BMO Capital Markets set a $64.00 price target on Regency Centers and gave the stock a hold rating in a research note on Friday, August 2nd. Citigroup set a $76.00 price target on Regency Centers and gave the stock a buy rating in a research note on Monday, May 20th. Finally, Compass Point initiated coverage on Regency Centers in a research note on Thursday. They set a neutral rating and a $67.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $69.12.

Shares of REG stock traded up $0.15 on Friday, hitting $65.19. 914,400 shares of the stock were exchanged, compared to its average volume of 857,553. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $10.92 billion, a PE ratio of 17.67, a P/E/G ratio of 2.50 and a beta of 0.37. Regency Centers has a one year low of $55.50 and a one year high of $70.26. The firm’s 50 day moving average is $66.49 and its two-hundred day moving average is $66.51.

Regency Centers (NYSE:REG) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.01). The firm had revenue of $268.43 million for the quarter, compared to the consensus estimate of $271.87 million. Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. During the same quarter in the previous year, the company posted $0.28 EPS. On average, sell-side analysts expect that Regency Centers will post 3.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, August 12th will be issued a dividend of $0.585 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.34 dividend on an annualized basis and a yield of 3.59%. Regency Centers’s dividend payout ratio (DPR) is 63.41%.

In other Regency Centers news, insider H Craig Ramey sold 1,210 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $65.29, for a total value of $79,000.90. Following the sale, the insider now owns 15,766 shares of the company’s stock, valued at approximately $1,029,362.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Dan M. Chandler III sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $65.15, for a total value of $228,025.00. Following the completion of the sale, the vice president now directly owns 15,457 shares in the company, valued at approximately $1,007,023.55. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Prudential PLC grew its position in Regency Centers by 20.4% during the 2nd quarter. Prudential PLC now owns 165,250 shares of the real estate investment trust’s stock worth $11,029,000 after acquiring an additional 28,050 shares during the last quarter. Royal Bank of Canada grew its position in Regency Centers by 13.7% during the 2nd quarter. Royal Bank of Canada now owns 85,188 shares of the real estate investment trust’s stock worth $5,684,000 after acquiring an additional 10,282 shares during the last quarter. UBS Group AG grew its position in Regency Centers by 32.8% during the 2nd quarter. UBS Group AG now owns 230,622 shares of the real estate investment trust’s stock worth $15,392,000 after acquiring an additional 56,952 shares during the last quarter. HM Payson & Co. bought a new position in Regency Centers during the 2nd quarter worth approximately $48,000. Finally, Amundi Pioneer Asset Management Inc. grew its position in Regency Centers by 13.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 251,348 shares of the real estate investment trust’s stock worth $16,774,000 after acquiring an additional 30,297 shares during the last quarter. 93.87% of the stock is currently owned by hedge funds and other institutional investors.

About Regency Centers

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.

Read More: Discount Rate

The Fly

Analyst Recommendations for Regency Centers (NYSE:REG)

Receive News & Ratings for Regency Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regency Centers and related companies with MarketBeat.com's FREE daily email newsletter.