Regency Centers (NASDAQ:REG) Given New $79.00 Price Target at Wells Fargo & Company

Regency Centers (NASDAQ:REG) had its price target dropped by analysts at Wells Fargo & Company from $80.00 to $79.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 9.13% from the company’s current price.

Several other equities analysts have also recently weighed in on REG. BTIG Research lifted their price objective on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Mizuho lifted their price target on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, Evercore ISI reduced their price target on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Regency Centers Stock Down 0.6 %

Shares of NASDAQ:REG opened at $72.39 on Wednesday. The company has a 50 day moving average price of $73.08 and a two-hundred day moving average price of $72.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. The company has a market capitalization of $13.13 billion, a PE ratio of 34.15, a PEG ratio of 3.75 and a beta of 1.23. Regency Centers has a 52 week low of $56.51 and a 52 week high of $78.18.

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

Insiders Place Their Bets

In related news, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the sale, the chief executive officer now owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. The trade was a 15.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the transaction, the chairman now owns 110,263 shares in the company, 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 have sold 95,000 shares of company stock valued at $6,977,500 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of REG. Wellington Management Group LLP increased its stake in Regency Centers by 185.9% in the fourth quarter. Wellington Management Group LLP now owns 42,642 shares of the company’s stock valued at $3,153,000 after purchasing an additional 27,725 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Regency Centers by 11.6% during the 4th quarter. California State Teachers Retirement System now owns 250,988 shares of the company’s stock valued at $18,556,000 after buying an additional 26,175 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Regency Centers by 9.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,906 shares of the company’s stock worth $511,000 after acquiring an additional 619 shares during the period. Comprehensive Money Management Services LLC purchased a new position in Regency Centers during the 4th quarter valued at about $345,000. Finally, Siemens Fonds Invest GmbH purchased a new position in Regency Centers during the fourth quarter valued at approximately $170,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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.