The stock of Regency Centers Corp (NYSE:REG) gapped down by $0.04 today and has $68.71 target or 9.00% below today’s $75.50 share price. The 6 months technical chart setup indicates high risk for the $7.88B company. The gap down was reported on Oct, 4 by Barchart.com. If the $68.71 price target is reached, the company will be worth $709.20M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.57% or $1.99 on October 3, hitting $75.5. Regency Centers Corp (NYSE:REG) has risen 4.09% since March 1, 2016 and is uptrending. It has underperformed by 8.12% the S&P500.
Analysts await Regency Centers Corp (NYSE:REG) to report earnings on November, 1 after the close. They expect $0.81 EPS, up 6.58% or $0.05 from last year’s $0.76 per share. REG’s profit will be $84.54 million for 23.30 P/E if the $0.81 EPS becomes a reality. After $0.82 actual EPS reported by Regency Centers Corp for the previous quarter, Wall Street now forecasts -1.22% negative EPS growth.
Regency Centers Corp (NYSE:REG) Ratings Coverage
Out of 15 analysts covering Regency Centers Corporation (NYSE:REG), 4 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 27% are positive. Regency Centers Corporation has been the topic of 29 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Tuesday, June 28 by Boenning & Scattergood. On Thursday, November 5 the stock rating was maintained by RBC Capital Markets with “Outperform”. On Wednesday, August 17 the stock rating was maintained by Deutsche Bank with “Hold”. The rating was initiated by BTIG Research on Thursday, August 25 with “Neutral”. The stock of Regency Centers Corp (NYSE:REG) earned “Hold” rating by Argus Research on Thursday, March 17. Argus Research maintained the shares of REG in a report on Wednesday, November 25 with “Buy” rating. On Thursday, August 20 the stock rating was upgraded by Credit Suisse to “Neutral”. The rating was maintained by Roth Capital on Friday, April 1 with “Buy”. The firm earned “Equal-Weight” rating on Friday, August 14 by Barclays Capital. The rating was downgraded by Robert W. Baird to “Outperform” on Thursday, January 7.
According to Zacks Investment Research, “REGENCY REALTY CORP. is a real estate investment trust which is engaged in the management, leasing, acquisition, development and brokerage of real estate properties consisting primarily of shopping centers and suburban office buildings.”
Insitutional Activity: The institutional sentiment decreased to 1.33 in Q2 2016. Its down 0.36, from 1.69 in 2016Q1. The ratio turned negative, as 20 funds sold all Regency Centers Corp shares owned while 81 reduced positions. 21 funds bought stakes while 113 increased positions. They now own 97.95 million shares or 3.94% less from 101.97 million shares in 2016Q1.
Somerset, a Pennsylvania-based fund reported 5,976 shares. Invest has invested 0.09% of its portfolio in Regency Centers Corp (NYSE:REG). Pnc Fincl Serv Group Inc Inc has 0% invested in the company for 3,390 shares. Great Lakes Advisors Lc has 12,835 shares for 0.03% of their US portfolio. Moreover, Thompson Davis & has 0% invested in Regency Centers Corp (NYSE:REG) for 18 shares. Moreover, Glg Llc has 0.03% invested in Regency Centers Corp (NYSE:REG) for 5,068 shares. The Massachusetts-based Babson Cap Mngmt Ltd Llc has invested 0.02% in Regency Centers Corp (NYSE:REG). Eaton Vance Mgmt, a Massachusetts-based fund reported 11,500 shares. Evercore Wealth Mngmt Lc reported 55 shares or 0% of all its holdings. Janus Capital Mngmt Limited Liability last reported 0.03% of its portfolio in the stock. Kemper Corp Master Retirement Trust last reported 3,270 shares in the company. Tiaa Cref Ltd Liability accumulated 0.04% or 564,205 shares. Commerzbank Aktiengesellschaft Fi has 0% invested in the company for 5,026 shares. Intll Grp Incorporated Inc owns 188,920 shares or 0% of their US portfolio. Moreover, State Of Alaska Department Of Revenue has 0.35% invested in Regency Centers Corp (NYSE:REG) for 40,270 shares.
Insider Transactions: Since May 6, 2016, the stock had 1 buying transaction, and 10 selling transactions for $2.99 million net activity. $159,100 worth of shares were sold by CHANDLER – III DAN M. on Monday, June 13. 3,000 Regency Centers Corp (NYSE:REG) shares with value of $237,840 were sold by LEAVITT J CHRISTIAN. $390,250 worth of Regency Centers Corp (NYSE:REG) shares were sold by Delatour John S.. Shares for $239,310 were sold by ROTH ALAN TODD on Tuesday, May 10. The insider WIBBENMEYER NICHOLAS ANDREW sold $153,779. 4,920 shares were sold by RAMEY H CRAIG, worth $382,038 on Friday, May 6. PALMER LISA also sold $778,000 worth of Regency Centers Corp (NYSE:REG) on Friday, May 6.
More important recent Regency Centers Corp (NYSE:REG) news were published by: Businesswire.com which released: “Regency Centers Announces the Acquisition of Market Common Clarendon” on May 16, 2016, also Fool.com published article titled: “Better Buy: Realty Income vs. Regency Centers”, Seekingalpha.com published: “Regency Centers’ (REG) CEO Hap Stein on Q2 2016 Results – Earnings Call Transcript” on August 03, 2016. More interesting news about Regency Centers Corp (NYSE:REG) was released by: Reuters.com and their article: “BRIEF-Regency Centers offers 4.35 mln common shares” with publication date: July 11, 2016.
REG Company Profile
Regency Centers Corporation, incorporated on July 8, 1993, is a real estate investment trust (REIT) and the general partner of the Regency Centers, L.P. (Operating Partnership). The Company’s operating, investing and financing activities are performed through the Operating Partnership, its subsidiaries and through its co-investment partnerships. The Firm owns direct or partial interests in approximately 320 shopping centers, which are grocery-anchored community and neighborhood centers. The Company’s centers are located in over 30 states and the District of Columbia, and contain approximately 38.0 million square feet of gross leasable area (GLA). The Company’s properties are leased to tenants under operating leases. The Company’s leases for tenant space under approximately 5,000 square feet have terms ranging from three to five years. The Company’s leases over 10,000 square feet have lease terms in excess of five years, which consists of anchor tenants. Many of the anchor leases contain provisions allowing the tenant the option of extending the term of the lease at expiration. The shopping centers’ tenant base primarily includes national and regional supermarkets, drug stores, discount department stores and other retailers.
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