Regency Centers (REG) Upgraded to “Buy” by Citigroup

Regency Centers (NYSE:REG) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a $74.00 target price on the real estate investment trust’s stock, up from their previous target price of $67.00. Citigroup’s price objective would suggest a potential upside of 14.46% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of Regency Centers from a “c+” rating to a “b-” rating in a report on Friday, July 27th. Deutsche Bank upgraded shares of Regency Centers from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $72.00 in a research report on Tuesday, August 28th. BMO Capital Markets restated a “hold” rating and issued a $62.00 price target on shares of Regency Centers in a research report on Thursday, August 2nd. ValuEngine upgraded shares of Regency Centers from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $67.00 price target on shares of Regency Centers in a research report on Wednesday, August 15th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $68.55.

REG stock opened at $64.65 on Friday. Regency Centers has a one year low of $54.87 and a one year high of $70.64. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $11.06 billion, a PE ratio of 17.52, a P/E/G ratio of 2.45 and a beta of 0.40.

Regency Centers (NYSE:REG) last released its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). Regency Centers had a return on equity of 3.83% and a net margin of 22.90%. The company had revenue of $274.53 million during the quarter, compared to analysts’ expectations of $269.18 million. During the same period last year, the firm posted $0.93 EPS. equities research analysts predict that Regency Centers will post 3.79 EPS for the current year.

In related news, insider Alan Todd Roth sold 2,300 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $65.15, for a total value of $149,845.00. Following the sale, the insider now owns 8,181 shares in the company, valued at $532,992.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider H Craig Ramey sold 1,365 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $63.27, for a total transaction of $86,363.55. The disclosure for this sale can be found here. Insiders sold 8,260 shares of company stock worth $532,456 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI increased its position in Regency Centers by 18.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,313 shares of the real estate investment trust’s stock valued at $330,000 after acquiring an additional 843 shares during the last quarter. Amica Retiree Medical Trust increased its position in Regency Centers by 12.2% during the second quarter. Amica Retiree Medical Trust now owns 8,272 shares of the real estate investment trust’s stock valued at $514,000 after acquiring an additional 897 shares during the last quarter. Teachers Insurance & Annuity Association of America increased its position in Regency Centers by 0.5% during the second quarter. Teachers Insurance & Annuity Association of America now owns 195,980 shares of the real estate investment trust’s stock valued at $12,166,000 after acquiring an additional 945 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Regency Centers by 2.2% during the first quarter. BNP Paribas Arbitrage SA now owns 58,591 shares of the real estate investment trust’s stock valued at $3,456,000 after acquiring an additional 1,243 shares during the last quarter. Finally, RBO & Co. LLC increased its position in Regency Centers by 0.7% during the second quarter. RBO & Co. LLC now owns 172,719 shares of the real estate investment trust’s stock valued at $10,722,000 after acquiring an additional 1,278 shares during the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

About Regency Centers

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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