Regency Centers (NYSE:REG) declared that its Board of Directors has approved a share buyback program, which authorizes the company to repurchase $250.00 million in outstanding shares on Thursday, February 8th, EventVestor reports. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Regency Centers (NYSE REG) traded up $0.07 during trading hours on Friday, reaching $55.65. The company’s stock had a trading volume of 401,836 shares, compared to its average volume of 1,056,007. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $9,786.46, a PE ratio of 61.76, a PEG ratio of 1.91 and a beta of 0.43. Regency Centers has a twelve month low of $55.15 and a twelve month high of $72.05.

Regency Centers (NYSE:REG) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.92 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.92. Regency Centers had a return on equity of 2.82% and a net margin of 17.59%. During the same quarter in the previous year, the firm earned $0.86 EPS. research analysts forecast that Regency Centers will post 3.7 EPS for the current year.

A number of equities analysts recently commented on REG shares. Robert W. Baird reaffirmed a “buy” rating on shares of Regency Centers in a report on Friday, November 3rd. Zacks Investment Research raised Regency Centers from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, November 7th. BTIG Research raised Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, January 29th. SunTrust Banks reaffirmed a “buy” rating and issued a $74.00 target price on shares of Regency Centers in a report on Friday, December 1st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Regency Centers presently has an average rating of “Buy” and a consensus target price of $71.29.

In other news, VP James D. Thompson sold 14,983 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $68.45, for a total transaction of $1,025,586.35. Following the completion of the transaction, the vice president now owns 48,976 shares in the company, valued at $3,352,407.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alan Todd Roth sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $69.89, for a total value of $174,725.00. Following the transaction, the director now owns 7,453 shares of the company’s stock, valued at approximately $520,890.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 598,762 shares of company stock worth $38,701,922. Insiders own 12.66% of the company’s stock.

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About Regency Centers

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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