Keybanc Begins Coverage of Regency Centers with Positive Outlook
Fintel reports that on October 25, 2024, Keybanc initiated coverage of Regency Centers (NasdaqGS:REG) with a Overweight recommendation.
Price Target Indicates Potential Growth
As of October 22, 2024, the average one-year price target for Regency Centers stands at $77.78/share, with forecasts ranging from a low of $71.71 to a high of $85.05. This average target suggests a 9.53% increase from its latest reported closing price of $71.01/share.
For additional insights, see our leaderboard of companies with the largest price target upside.
Projected Financial Performance
The projected annual revenue for Regency Centers is estimated at $1,270 million, reflecting a decrease of 12.97%. The anticipated annual non-GAAP EPS is $2.31.
Institutional Investment Sentiment
Currently, 1,075 funds or institutions report holdings in Regency Centers. This figure marks a decrease of 22 institutions or 2.01% from the last quarter. The average portfolio weight of all funds dedicated to REG has increased by 2.37% to 0.24%. In the past three months, total shares owned by institutions rose by 5.93%, totaling 197,403,000 shares. 
The current put/call ratio for REG is 2.06, indicating a bearish market sentiment.
Norges Bank currently holds 17,052,000 shares, which equates to 9.42% ownership of the company. This represents a 100.00% increase from its previous filing of 0 shares.
JPMorgan Chase owns 10,654,000 shares, reflecting a 5.89% stake. This is an increase of 21.61% from its earlier report of 8,352,000 shares, although the firm has decreased its overall portfolio allocation in REG by 80.07% over the last quarter.
Price T Rowe Associates holds 9,643,000 shares, amounting to 5.33% ownership. This reflects a 6.16% increase from the previous report of 9,049,000 shares. The firm has increased its portfolio allocation in REG by 6.86% over the last quarter.
Principal Financial Group owns 8,923,000 shares, indicating 4.93% ownership. This is a 4.00% increase from last quarter’s holding of 8,566,000 shares. However, the firm has cut its portfolio allocation in REG by 40.95% recently.
The Vanguard Real Estate Index Fund Investor Shares holds 7,031,000 shares, showing 3.88% ownership. This is a decrease of 1.82% from 7,159,000 shares previously reported, with a 0.50% reduction in portfolio allocation over the last quarter.
About Regency Centers
Background Information
(Description provided by the company.)
Regency Centers is a leading owner, operator, and developer of shopping centers situated in wealthy, densely populated suburban areas. Its portfolio features busy properties that include top-performing grocers, restaurants, service providers, and leading retailers, all designed to connect with their communities. As a fully integrated real estate company, Regency Centers operates as a self-administered, self-managed qualified real estate investment trust and is a member of the S&P 500 Index.
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This story originally appeared on Fintel.
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