Zacks Investment Research downgraded shares of Regency Centers Corporation (NYSE:REG) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Shares of Regency have underperformed its industry, year to date. Also, the stock has seen the Zacks Consensus Estimates for third-quarter 2017 funds from operations (FFO) per share being revised downward in two months’ time. Notably, the company’s focus on building a premium portfolio of grocery-anchored shopping centers, which are usually necessity-driven, along with the presence of leading grocers in its tenant roaster, augurs well. Also, 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. Yet, the recent efforts of online retailers to go deeper into the grocery business have emerged as a concern for this real estate investment trust (REIT). Rate hike also adds to its woes.”

Several other research analysts have also issued reports on the stock. Barclays PLC dropped their price target on shares of Regency Centers Corporation from $73.00 to $71.00 and set an equal weight rating for the company in a research report on Tuesday, July 18th. Citigroup Inc reissued a neutral rating and issued a $67.00 price target (down previously from $70.00) on shares of Regency Centers Corporation in a research report on Monday, July 10th. Jefferies Group LLC lowered shares of Regency Centers Corporation from a buy rating to a hold rating and dropped their price target for the stock from $74.00 to $67.00 in a research report on Friday, September 15th. BMO Capital Markets initiated coverage on shares of Regency Centers Corporation in a research report on Monday, September 11th. They issued a market perform rating and a $65.00 price target for the company. Finally, Boenning Scattergood lowered shares of Regency Centers Corporation from a neutral rating to an under perform rating and set a $62.50 price target for the company. in a research report on Tuesday, September 12th. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $70.68.

Regency Centers Corporation (NYSE REG) opened at $64.10 on Wednesday. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 2.18 and a beta of 0.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.93 and a current ratio of 0.63.

Regency Centers Corporation (NYSE:REG) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.04. Regency Centers Corporation had a net margin of 17.59% and a return on equity of 2.82%. The firm had revenue of $262.14 million during the quarter, compared to analyst estimates of $254.04 million. During the same quarter in the prior year, the business posted $0.81 earnings per share. analysts expect that Regency Centers Corporation will post 3.68 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Tuesday, November 14th. Regency Centers Corporation’s payout ratio is 235.56%.

In related news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $64.30, for a total value of $67,885,239.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Lou Fiala sold 7,775 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $65.74, for a total transaction of $511,128.50. Following the completion of the sale, the director now directly owns 17,145 shares of the company’s stock, valued at approximately $1,127,112.30. The disclosure for this sale can be found here. Company insiders own 12.66% of the company’s stock.

Several institutional investors have recently modified their holdings of REG. IHT Wealth Management LLC acquired a new stake in shares of Regency Centers Corporation in the second quarter valued at approximately $124,000. Perigon Wealth Management LLC increased its holdings in shares of Regency Centers Corporation by 93.2% in the second quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,025 shares in the last quarter. Global X Management Co. LLC acquired a new stake in shares of Regency Centers Corporation in the second quarter valued at approximately $179,000. Advisor Group Inc. increased its holdings in shares of Regency Centers Corporation by 15.6% in the second quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 404 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in shares of Regency Centers Corporation by 342.9% in the second quarter. Riverhead Capital Management LLC now owns 3,100 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 2,400 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

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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