The Vanguard Group, Inc. recently announced the acquisition of new stake in Regency Centers Corporation (NASDAQ:REG). The institutional investor has increased its shareholding in the Real Estate company by 0.28% to 25.95 million shares with purchase of 73712.0 shares. This fresh investment now brings its stake to 15.15% valued currently at $1.59 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 7649.0 to 12.22 million shares. And BlackRock Fund Advisors has lifted its position by 1.36% or 0.15 million shares – to 11.4 million shares.
With over 1.25 million Regency Centers Corporation (REG) shares trading Tuesday and a closing price of $57.56 on the day, the dollar volume was approximately $71.7 million. The shares have shown a negative half year performance of -12.24% and its price on 05/23/23 lost nearly -1.51%. Currently, there are 171.21M common shares owned by the public and among those 169.68M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for REG have a consensus price objective of $68.73. The analysts have set the share’s price value over the next 12 months at a high of $79.00 and a low of $62.00. The average price target is 16.66% above its recent price level and an upside to the estimated low will see the stock gain 7.16% over that period. But an upside of 27.14% will see the stock hit the forecast high price target while median target price for the stock is $68.00.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 171,790 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 96,238 shares.
The top 3 mutual fund holders in Regency Centers Corporation are Government Pension Fund – Global, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF. Government Pension Fund – Global owns 16.14 million shares of the company’s stock, all valued at over $991.39 million. The company sold 1875.0 shares recently to bring their total holdings to about 9.42% of the shares outstanding. Vanguard Real Estate Index Fund sold 59195.0 shares to see its total holdings shrink to 6.78 million shares valued at over $416.78 million and representing 3.96% of the shares outstanding. Vanguard Total Stock Market ETF bought 26519.0 shares to bring its total holdings to over 5.29 million shares at a value of $325.1 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.09% of the shares outstanding.
Shares of Regency Centers Corporation (NASDAQ: REG) opened at $58.43, down -$0.01 from a prior closing price of $58.44. However, the script later moved the day high at 58.90, down -1.51%. The company’s stock has a 5-day price change of 0.95% and -8.42% over the past three months. REG shares are trading -7.90% year to date (YTD), with the 12-month market performance down to -9.01% lower. It has a 12-month low price of $51.97 and touched a high of $69.35 over the same period. REG has an average intraday trading volume of 839.19K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.97%, -3.13%, and -6.38% respectively.
Institutional ownership of Regency Centers Corporation (NASDAQ: REG) shares accounts for 101.10% of the company’s 171.21M shares outstanding. Mutual fund holders own 37.92%, while other institutional holders and individual stakeholders account for 66.21% and 11.89% respectively.
It has a market capitalization of $9.95B and a beta (3y monthly) value of 1.17. The stock’s trailing 12-month PE ratio is 25.68, while the earnings-per-share (ttm) stands at $2.24. The company has a debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.56% over the week and 2.24% over the month.
Analysts forecast that Regency Centers Corporation (REG) will achieve an EPS of $0.5 for the current quarter, $0.49 for the next quarter and $2.18 for 2024. The lowest estimate earnings-per-share for the quarter is $0.47 while analysts give the company a high EPS estimate of $0.53. Comparatively, EPS for the current quarter was $0.61 a year ago. Earnings per share for the fiscal year are expected to increase by 32.80%, and 5.51% over the next financial year. EPS should shrink at an annualized rate of -0.69% over the next five years, compared to 24.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Regency Centers Corporation (REG) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 10 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
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