Regency Centers (NYSE:REG) Upgraded to Sector Outperform at Scotiabank

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

A number of other research analysts also recently commented on the company. BMO Capital Markets set a $64.00 price target on Regency Centers and gave the company a hold rating in a research note on Friday, August 2nd. Citigroup set a $76.00 price target on Regency Centers and gave the company a buy rating in a research note on Monday, May 20th. Finally, Compass Point assumed coverage on Regency Centers in a research note on Thursday. They issued a neutral rating and a $67.00 price target for the company. One investment 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. The company presently has a consensus rating of Buy and a consensus price target of $69.12.

REG stock traded up $0.15 during midday trading on Friday, reaching $65.19. The company had a trading volume of 914,400 shares, compared to its average volume of 857,553. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. The stock has a 50 day moving average price of $66.49 and a 200-day moving average price of $66.51. Regency Centers has a 1-year low of $55.50 and a 1-year high of $70.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.87 and a quick ratio of 0.87.

Regency Centers (NYSE:REG) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.01). The company had revenue of $268.43 million during the quarter, compared to analyst estimates of $271.87 million. Regency Centers had a net margin of 23.19% and a return on equity of 3.86%. During the same period last year, the firm earned $0.28 EPS. As a group, research analysts anticipate that Regency Centers will post 3.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, August 12th will be given a $0.585 dividend. This represents a $2.34 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, August 9th. Regency Centers’s dividend payout ratio is presently 63.41%.

In other news, VP Dan M. Chandler III sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $65.15, for a total transaction of $228,025.00. Following the sale, the vice president now directly owns 15,457 shares in the company, valued at $1,007,023.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider H Craig Ramey sold 1,210 shares of the business’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 in the company, valued at $1,029,362.14. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in REG. Nuveen Asset Management LLC grew its holdings in shares of Regency Centers by 122.9% during the second quarter. Nuveen Asset Management LLC now owns 2,856,520 shares of the real estate investment trust’s stock worth $190,644,000 after purchasing an additional 1,575,165 shares during the last quarter. PGGM Investments grew its holdings in shares of Regency Centers by 54.0% during the second quarter. PGGM Investments now owns 4,070,645 shares of the real estate investment trust’s stock worth $271,675,000 after purchasing an additional 1,427,645 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Regency Centers by 5.7% during the second quarter. Vanguard Group Inc. now owns 26,661,698 shares of the real estate investment trust’s stock worth $1,779,402,000 after purchasing an additional 1,427,631 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Regency Centers by 12.7% during the second quarter. Invesco Ltd. now owns 4,092,710 shares of the real estate investment trust’s stock worth $273,146,000 after purchasing an additional 461,012 shares during the last quarter. Finally, Brookfield Asset Management Inc. grew its holdings in shares of Regency Centers by 23.0% during the second quarter. Brookfield Asset Management Inc. now owns 2,005,316 shares of the real estate investment trust’s stock worth $133,835,000 after purchasing an additional 374,516 shares during the last quarter. Institutional investors own 93.87% of the company’s stock.

Regency Centers Company Profile

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.

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