Regency Centers (NASDAQ:REG) Stock Breaks Above Fifty Day Moving Average – Should You Sell?

Shares of Regency Centers Corporation (NASDAQ:REG – Get Free Report) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $73.84 and traded as high as $74.42. Regency Centers shares last traded at $74.28, with a volume of 1,201,896 shares.

Analysts Set New Price Targets

A number of research analysts have issued reports on REG shares. Mizuho dropped their target price on shares of Regency Centers from $82.00 to $76.00 and set a “neutral” rating for the company in a report on Thursday, September 24th. Morgan Stanley reduced their price target on shares of Regency Centers from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Truist Financial assumed coverage on Regency Centers in a research note on Thursday, October 1st. They set a “buy” rating and a $84.00 price target on the stock. Weiss Ratings cut Regency Centers from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, August 20th. Finally, UBS Group lowered their price target on Regency Centers from $85.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Read Our Latest Analysis on REG

Regency Centers Stock Up 0.8%

The firm has a market cap of $13.60 billion, a price-to-earnings ratio of 25.18 and a beta of 0.80. The business has a 50 day moving average of $73.84 and a 200 day moving average of $76.52.

Regency Centers (NASDAQ:REG – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.62. The firm had revenue of $413.51 million during the quarter, compared to analyst estimates of $411.07 million. During the same period in the previous year, the firm posted $1.16 EPS. Research analysts predict that Regency Centers Corporation will post 4.86 earnings per share for the current year.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were paid a dividend of $0.7550 per share. This represents a $3.02 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, September 11th. Regency Centers’s dividend payout ratio (DPR) is currently 102.37%.

Hedge Funds Weigh In On Regency Centers

Institutional investors and hedge funds have recently modified their holdings of the company. Elevation Wealth Partners LLC boosted its position in Regency Centers by 541.3% during the second quarter. Elevation Wealth Partners LLC now owns 481 shares of the company’s stock worth $38,000 after acquiring an additional 406 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Regency Centers in the 2nd quarter worth approximately $65,000. Banque Cantonale Vaudoise purchased a new stake in Regency Centers in the 1st quarter worth approximately $67,000. Danske Bank A S purchased a new stake in Regency Centers in the 2nd quarter worth approximately $85,000. Finally, Global Retirement Partners LLC acquired a new position in Regency Centers in the 2nd quarter valued at $97,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

About Regency Centers

(Get Free Report)

Regency Centers Corporation is a real estate investment trust that owns, operates, develops and redevelops grocery-anchored shopping centers in the United States. Its properties are designed to serve everyday consumer needs and typically include supermarkets, restaurants, service providers, retailers and other commercial tenants.

The company focuses primarily on high-quality shopping centers located in established and growing communities, often in affluent or densely populated trade areas.

Further Reading

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