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Analysts Set Regency Centers Corporation (NYSE:REG) PT at $74.70

Regency Centers Corporation logoRegency Centers Corporation (NYSE:REG) has received a consensus recommendation of “Buy” from the fifteen analysts that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $74.50.

Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Regency Centers Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Jefferies Group LLC restated a “buy” rating and set a $74.00 target price on shares of Regency Centers Corporation in a research report on Monday, July 17th. Barclays PLC decreased their target price on shares of Regency Centers Corporation from $73.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Royal Bank Of Canada restated a “buy” rating and set a $70.00 target price on shares of Regency Centers Corporation in a research report on Monday, June 19th. Finally, Citigroup Inc. restated a “neutral” rating and set a $67.00 target price (down from $70.00) on shares of Regency Centers Corporation in a research report on Monday, July 10th.

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In related news, Director John C. Schweitzer sold 4,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $61.13, for a total value of $244,520.00. Following the sale, the director now directly owns 46,694 shares of the company’s stock, valued at approximately $2,854,404.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider H Craig Ramey sold 1,048 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $62.17, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 12.66% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Allianz Asset Management AG bought a new position in shares of Regency Centers Corporation during the fourth quarter worth approximately $1,289,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of Regency Centers Corporation during the first quarter worth approximately $8,398,000. Guyasuta Investment Advisors Inc. bought a new position in shares of Regency Centers Corporation during the first quarter worth approximately $2,446,000. Norges Bank bought a new position in shares of Regency Centers Corporation during the fourth quarter worth approximately $34,751,000. Finally, DnB Asset Management AS bought a new position in shares of Regency Centers Corporation during the first quarter worth approximately $716,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

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Regency Centers Corporation (NYSE REG) traded up 1.63% on Monday, hitting $67.30. The stock had a trading volume of 1,286,617 shares. Regency Centers Corporation has a 52-week low of $58.63 and a 52-week high of $85.32. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 100.45 and a beta of 0.55. The company’s 50 day moving average price is $63.10 and its 200 day moving average price is $65.33.

Regency Centers Corporation (NYSE:REG) last released its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. Regency Centers Corporation had a net margin of 13.68% and a return on equity of 2.75%. The business had revenue of $189.43 million during the quarter, compared to the consensus estimate of $185.43 million. During the same quarter in the prior year, the firm earned $0.86 EPS. Analysts expect that Regency Centers Corporation will post $1.22 EPS for the current year.

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.

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