Regency Centers (NASDAQ:REG) Shares Down 0.7% – Here’s What Happened

Regency Centers Co. (NASDAQ:REG) dropped 0.7% during mid-day trading on Friday . The stock traded as low as $70.76 and last traded at $71.54. Approximately 430,871 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,001,258 shares. The stock had previously closed at $72.04.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on REG shares. BTIG Research lifted their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Evercore ISI cut their price target on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Mizuho increased their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their target price on Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Trading Down 0.9 %

The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The firm has a market cap of $12.95 billion, a PE ratio of 33.65, a PEG ratio of 3.75 and a beta of 1.23. The firm has a fifty day simple moving average of $72.92 and a two-hundred day simple moving average of $73.01.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. Equities analysts forecast that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers’s dividend payout ratio is presently 133.02%.

Insider Activity at Regency Centers

In other news, CFO Michael J. Mas sold 20,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following the sale, the chief financial officer now directly owns 54,020 shares of the company’s stock, valued at approximately $3,975,872. This represents a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of Regency Centers stock in a transaction on Tuesday, March 11th. The stock was 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 of the company’s stock, valued at approximately $8,102,125.24. The trade was a 31.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock valued at $6,977,500 in the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Regency Centers

Several large investors have recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in Regency Centers during the fourth quarter valued at approximately $26,000. National Pension Service bought a new stake in Regency Centers during the fourth quarter valued at about $27,000. TD Waterhouse Canada Inc. grew its holdings in Regency Centers by 48,700.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company’s stock valued at $36,000 after purchasing an additional 487 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of Regency Centers in the fourth quarter worth about $39,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Regency Centers during the 4th quarter valued at about $53,000. 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.