Regency Centers Corporation (REG) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Regency Centers Corporation (NYSE:REG) from a hold rating to a buy rating in a report published on Tuesday, August 1st.

A number of other research analysts have also recently issued reports on the company. TheStreet cut Regency Centers Corporation from a b rating to a c rating in a report on Tuesday, May 9th. Jefferies Group LLC reissued a hold rating and set a $72.00 price objective on shares of Regency Centers Corporation in a report on Monday, April 24th. Barclays PLC cut their price objective on Regency Centers Corporation from $73.00 to $71.00 and set an equal weight rating for the company in a report on Tuesday, July 18th. Citigroup Inc. reissued a neutral rating and set a $67.00 price objective (down from $70.00) on shares of Regency Centers Corporation in a report on Monday, July 10th. Finally, Royal Bank Of Canada reissued a buy rating and set a $70.00 price objective on shares of Regency Centers Corporation in a report on Monday, June 19th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $74.70.

Shares of Regency Centers Corporation (NYSE:REG) opened at 64.68 on Tuesday. The firm has a market capitalization of $10.98 billion, a PE ratio of 107.44 and a beta of 0.56. Regency Centers Corporation has a 12-month low of $58.63 and a 12-month high of $82.44. The company has a 50-day moving average of $64.68 and a 200 day moving average of $65.05.

Regency Centers Corporation (NYSE:REG) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 EPS for the quarter, topping the consensus estimate of $0.90 by $0.03. The firm had revenue of $240.42 million during the quarter, compared to analysts’ expectations of $248.50 million. Regency Centers Corporation had a return on equity of 2.20% and a net margin of 13.19%. During the same period last year, the business earned $0.81 earnings per share. On average, analysts predict that Regency Centers Corporation will post $0.92 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th will be given a $0.53 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.12 dividend on an annualized basis and a yield of 3.28%. Regency Centers Corporation’s payout ratio is 353.34%.

In related news, insider H Craig Ramey sold 1,048 shares of Regency Centers Corporation stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $62.17, for a total value of $65,154.16. Following the completion of the sale, the insider now directly owns 15,769 shares in the company, valued at $980,358.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.66% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Regency Centers Corporation by 0.5% in the second quarter. Vanguard Group Inc. now owns 25,977,087 shares of the real estate investment trust’s stock worth $1,627,206,000 after buying an additional 125,593 shares during the last quarter. BlackRock Inc. raised its stake in shares of Regency Centers Corporation by 4,387.0% in the first quarter. BlackRock Inc. now owns 14,817,817 shares of the real estate investment trust’s stock worth $983,755,000 after buying an additional 14,487,580 shares during the last quarter. State Street Corp raised its stake in shares of Regency Centers Corporation by 61.9% in the first quarter. State Street Corp now owns 8,575,865 shares of the real estate investment trust’s stock worth $569,344,000 after buying an additional 3,280,070 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Regency Centers Corporation by 109.7% in the second quarter. Daiwa Securities Group Inc. now owns 5,350,352 shares of the real estate investment trust’s stock worth $335,146,000 after buying an additional 2,799,040 shares during the last quarter. Finally, APG Asset Management US Inc. raised its stake in shares of Regency Centers Corporation by 15.3% in the first quarter. APG Asset Management US Inc. now owns 5,163,000 shares of the real estate investment trust’s stock worth $342,772,000 after buying an additional 684,300 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

About Regency Centers Corporation

Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.

Analyst Recommendations for Regency Centers Corporation (NYSE:REG)

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