Scotiabank Upgrades Regency Centers (NYSE:REG) to Sector Outperform

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

REG has been the topic of several other research reports. Compass Point initiated coverage on shares of Regency Centers in a research report on Thursday, August 15th. They set a neutral rating and a $67.00 price target on the stock. Citigroup set a $76.00 price target on shares of Regency Centers and gave the stock a buy rating in a research report on Monday, May 20th. Finally, BMO Capital Markets set a $64.00 target price on shares of Regency Centers and gave the company a hold rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Regency Centers has an average rating of Buy and a consensus price target of $69.12.

NYSE REG opened at $65.73 on Friday. 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 price-to-earnings ratio of 17.81, a P/E/G ratio of 2.50 and a beta of 0.37. The firm’s 50 day simple moving average is $66.39 and its 200 day simple moving average is $66.49. Regency Centers has a 1 year low of $55.50 and a 1 year high of $70.26.

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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.01). The firm had revenue of $268.43 million for the quarter, compared to analyst estimates 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 prior year, the business posted $0.28 EPS. On average, equities research analysts forecast that Regency Centers will post 3.78 earnings per share for the current year.

The business 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. 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 3.56%. Regency Centers’s dividend payout ratio is currently 63.41%.

In other news, VP Dan M. Chandler III sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $65.15, for a total transaction of $228,025.00. Following the completion of the transaction, the vice president now owns 15,457 shares of the company’s stock, valued at $1,007,023.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider H Craig Ramey sold 1,210 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $65.29, for a total transaction of $79,000.90. Following the transaction, the insider now directly owns 15,766 shares of the company’s stock, valued at approximately $1,029,362.14. The disclosure for this sale can be found here. Insiders sold 9,783 shares of company stock worth $639,965 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. bought a new position in shares of Regency Centers during the first quarter valued at $27,000. Quadrant Capital Group LLC raised its stake in shares of Regency Centers by 398.4% during the first quarter. Quadrant Capital Group LLC now owns 623 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 498 shares during the last quarter. HM Payson & Co. bought a new position in shares of Regency Centers during the second quarter valued at $48,000. CSat Investment Advisory L.P. raised its stake in shares of Regency Centers by 128.5% during the second quarter. CSat Investment Advisory L.P. now owns 969 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 545 shares during the last quarter. Finally, NEXT Financial Group Inc raised its stake in shares of Regency Centers by 62.5% during the second quarter. NEXT Financial Group Inc now owns 1,100 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 423 shares during the last quarter. 93.87% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Regency Centers (NYSE:REG)

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