Brokerages Set Regency Centers Co. (NASDAQ:REG) PT at $70.00

Shares of Regency Centers Co. (NASDAQ:REG) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $70.09.

A number of research firms have recently issued reports on REG. Scotiabank cut their price objective on Regency Centers from $68.00 to $65.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft started coverage on Regency Centers in a research note on Tuesday, January 30th. They issued a “buy” rating and a $74.00 price target on the stock. Truist Financial dropped their price objective on shares of Regency Centers from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. Mizuho raised their target price on shares of Regency Centers from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company started coverage on shares of Regency Centers in a research note on Thursday, February 1st. They set an “overweight” rating and a $70.00 target price for the company.

Hedge Funds Weigh In On Regency Centers

A number of hedge funds have recently bought and sold shares of REG. Commonwealth Equity Services LLC increased its holdings in Regency Centers by 9.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,518 shares of the company’s stock valued at $387,000 after buying an additional 558 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Regency Centers in the 3rd quarter valued at about $374,000. Allspring Global Investments Holdings LLC increased its holdings in Regency Centers by 5.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,691 shares of the company’s stock valued at $933,000 after buying an additional 760 shares during the period. Yousif Capital Management LLC increased its holdings in Regency Centers by 2.9% in the 3rd quarter. Yousif Capital Management LLC now owns 29,981 shares of the company’s stock valued at $1,782,000 after buying an additional 836 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Regency Centers by 23.9% in the 3rd quarter. Fifth Third Bancorp now owns 2,317 shares of the company’s stock valued at $138,000 after buying an additional 447 shares during the period. 96.07% of the stock is owned by institutional investors.

Regency Centers Stock Down 1.7 %

Shares of REG stock opened at $59.27 on Tuesday. Regency Centers has a 52-week low of $54.72 and a 52-week high of $68.47. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 4.40 and a beta of 1.16. The firm’s 50-day moving average is $59.33 and its 200-day moving average is $61.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.37.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 12th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Wednesday, June 12th. Regency Centers’s dividend payout ratio is 130.73%.

Regency Centers Company Profile

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.