Regency Centers (NASDAQ:REG) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Regency Centers (NASDAQ:REG) from a hold rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

Several other brokerages have also recently weighed in on REG. Truist Financial initiated coverage on Regency Centers in a report on Thursday, October 1st. They set a “buy” rating and a $84.00 target price on the stock. Scotiabank reduced their price objective on Regency Centers from $82.00 to $81.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 17th. Evercore set a $83.00 price objective on Regency Centers in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised Regency Centers from a “neutral” rating to an “overweight” rating and set a $83.00 price objective on the stock in a research note on Thursday, September 24th. Finally, Weiss Ratings downgraded Regency Centers from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, November 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Regency Centers presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.26.

Regency Centers Price Performance

NASDAQ REG traded up $0.37 during mid-day trading on Friday, hitting $76.11. The stock had a trading volume of 1,415,922 shares, compared to its average volume of 1,347,177. Regency Centers has a twelve month low of $66.86 and a twelve month high of $83.66. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 4.54 and a beta of 0.80. The firm’s 50 day moving average is $73.72 and its 200 day moving average is $76.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.16 and a quick ratio of 1.25.

Regency Centers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Monday, December 14th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, December 14th. This is a boost from Regency Centers’s previous quarterly dividend of $0.7550. Regency Centers’s dividend payout ratio is presently 108.24%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Regency Centers during the second quarter worth $1,597,868,000. Dimensional Fund Advisors LP grew its holdings in shares of Regency Centers by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,667,906 shares of the company’s stock worth $201,849,000 after purchasing an additional 67,213 shares during the period. Deutsche Bank AG purchased a new stake in Regency Centers in the 2nd quarter valued at about $170,282,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Regency Centers by 18,982.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,953,088 shares of the company’s stock valued at $155,739,000 after buying an additional 1,942,853 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Regency Centers by 6.7% in the 1st quarter. Hsbc Holdings PLC now owns 1,377,387 shares of the company’s stock valued at $104,305,000 after buying an additional 86,616 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

About Regency Centers

Regency Centers Corporation is a real estate investment trust that owns, operates, develops and redevelops shopping centers, with a focus on centers anchored by grocery stores. Its properties typically combine grocery retailers with restaurants, service businesses and other retail tenants. Founded in 1963, the company serves communities across the United States, concentrating on suburban locations with strong surrounding neighborhoods. Regency also works with tenants and property partners to maintain and enhance its centers.