Regency Centers Corporation (NYSE:REG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Shares of Regency have underperformed its industry year to date. While the company’s second-quarter results improved year over year, the funds from operations (FFO) per share estimate for the third quarter moved south over the past seven days. However, Regency’s merger with Equity One elevated the company’s position in the retail real estate market and offered it a host of opportunities to drive growth. It created a high quality portfolio of 429 properties, mainly grocery anchored, situated in several top markets. The company also made solid progress in the merger integration that helped it realize the anticipated $27 million of G&A synergies. The market has been witnessing a shift in retail shopping from brick and mortar stores to internet sales. Particularly, the recent efforts of online retailers to go deeper into the grocery business have emerged as a pressing concern for this REIT.”

REG has been the subject of several other research reports. Jefferies Group LLC raised Regency Centers Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $72.00 to $74.00 in a report on Friday, June 16th. Citigroup Inc. reaffirmed a “neutral” rating and set a $67.00 price target (down previously from $70.00) on shares of Regency Centers Corporation in a report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $70.00 price target on shares of Regency Centers Corporation in a report on Monday, June 19th. BidaskClub raised Regency Centers Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $73.00 price target (up previously from $72.00) on shares of Regency Centers Corporation in a report on Monday, July 10th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Regency Centers Corporation has an average rating of “Hold” and a consensus price target of $74.45.

Shares of Regency Centers Corporation (NYSE REG) traded up 0.92% during trading on Wednesday, reaching $65.66. 282,645 shares of the company were exchanged. Regency Centers Corporation has a one year low of $58.63 and a one year high of $82.44. The company has a 50 day moving average price of $64.48 and a 200-day moving average price of $65.07. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of 109.07 and a beta of 0.56.

Regency Centers Corporation (NYSE:REG) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.93 EPS for the quarter, beating the consensus estimate of $0.90 by $0.03. Regency Centers Corporation had a return on equity of 2.20% and a net margin of 13.19%. The company had revenue of $240.42 million during the quarter, compared to the consensus estimate of $248.50 million. During the same quarter in the prior year, the firm posted $0.81 EPS. Equities analysts predict that Regency Centers Corporation will post $1.13 EPS for the current year.

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In related news, insider H Craig Ramey sold 1,048 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $62.17, for a total value of $65,154.16. Following the transaction, the insider now owns 15,769 shares in the company, valued at $980,358.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.66% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Exxonmobil Investment Management Inc. TX bought a new position in shares of Regency Centers Corporation during the first quarter worth approximately $2,153,000. Gulf International Bank UK Ltd boosted its position in shares of Regency Centers Corporation by 47.8% in the first quarter. Gulf International Bank UK Ltd now owns 46,922 shares of the real estate investment trust’s stock worth $3,115,000 after buying an additional 15,174 shares during the last quarter. National Pension Service bought a new position in shares of Regency Centers Corporation during the first quarter worth approximately $10,409,000. Bank of Montreal Can boosted its position in shares of Regency Centers Corporation by 505.2% in the first quarter. Bank of Montreal Can now owns 213,083 shares of the real estate investment trust’s stock worth $14,146,000 after buying an additional 177,875 shares during the last quarter. Finally, Baldwin Brothers Inc. MA bought a new position in shares of Regency Centers Corporation during the first quarter worth approximately $189,000. Institutional investors own 88.89% of the company’s stock.

About Regency Centers Corporation

Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.

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Analyst Recommendations for Regency Centers Corporation (NYSE:REG)

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