Regency Centers Corporation (NASDAQ:REG) finished Wednesday with an addition of $0.22 to close at $65.70, an upside of 0.34 percent. An average of 1,339,600 shares of common stock have been traded in the last five days. There was a gain of $0.01 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 954,675 shares traded, while the 50-day average volume stands at 962,412.
REG stock has increased by 4.63% in the last month. The company shares reached their 1-month lowest point of $60.78 on 07/10/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $51.97 and a high of $68.56 in 52 weeks. It has reached a new high 7 times so far this year and achieved 5.12% or $3.20 in price. In spite of this, the price is down -4.17% from the 52-week high.
Insider Transactions
REG stock investors should be aware that Regency Centers Corporation (REG) stock had its last reported insider trading activity 3 days ago on Aug 07. In this transaction, the insider spent $8,313,750. EVP, W. Regional Pres., WIBBENMEYER NICHOLAS ANDREW, disposed of 900 shares at a price of $66.39 on Aug 07. The insider now owns more than $59,751 worth of shares. Prior to that, President and CEO PALMER LISA went on to Sale 15,180 shares at $65.58 each on Feb 14. An amount of $995,504 was transacted.
Valuation Metrics
Regency Centers Corporation (REG) has a trailing price-to-earnings (P/E) ratio of 29.32. The stock’s beta is 1.18. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 9.03, the price-to-book (PB) ratio at 1.86.
Financial Health
Further, the company has a long term debt to equity ratio of 0.62 and a total debt to equity ratio of 0.62 for the quarter ending June 29. Its gross profit as reported stood at $472.31 million compared to revenue of $1.22 billion.
Earnings Surprise
For the three-month period that ended June 29, Regency Centers Corporation had $3.71 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $86.78 million in the quarter, while revenues of $97.28 million were shrunk -20.77%. The analyst consensus anticipated Regency Centers Corporation’s latest quarter earnings to come in at $0.5 per share, but it turned out to be $0.51, a 2.00% surprise. For the quarter, EBITDA amounted to $187.73 million. At the end of the quarter ending June 29, Regency Centers Corporation’s stock balance sheet showed total debt was $3.95 billion. Shareholders own equity worth $171.0 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Regency Centers Corporation (REG) price momentum. RSI 9-day as of the close on 09 August was 56.95%, suggesting the stock is Neutral, with historical volatility in this time frame at 11.61%.
As of today, REG’s price is $66.01 +0.02% or $0.01 from its 5-day moving average. REG is currently trading +4.10% higher than its 20-day SMA and +12.77% higher than its 100-day SMA. However, the stock’s current price level is +17.45% above the SMA50 and +20.97% above the SMA200.
The stochastic %K and %D were 66.26% and 77.24%, respectively, and the average true range (ATR) was 1.24. With the 14-day stochastic at 52.92% and the average true range at 1.21, the RSI (14) stands at 60.24%. The stock has reached 0.17 on the 9-day MACD Oscillator while the 14-day reading was at 0.28.
Analyst Ratings
Barclays upgraded Regency Centers Corporation (NASDAQ: REG) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as an Equal weight. The consensus rating for Regency Centers Corporation (REG) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell REG, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 6 others rate it as a “buy”.
What is REG’s price target for the next 12 months?
Analysts predict a range of price targets between $62.00 and $79.00, with a median target of $70.00. Taking a look at these predictions, the average price target given by analysts for Regency Centers Corporation (REG) stock is $69.71.
