Jacksonville, Florida-based Regency Centers Corporation (REG) is a prominent REIT. It owns, manages, and develops grocery-anchored shopping centers in affluent suburban areas across the U.S. With a market cap of $13.2 billion, Regency’s portfolio includes over 480 properties and community-focused spaces offering shopping, dining, and entertainment options.
Companies worth $10 billion or more are generally described as “large-cap stocks,” Regency fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the Retail REIT industry.
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Regency touched its three-year high of $78.18 on Mar. 4 and is currently trading 5.7% below that peak. Meanwhile, REG stock has dipped 26 bps over the past three months, performing notably better than the S&P 500 Index’s ($SPX) 6% decline during the same time frame.
REG’s performance looks much more impressive over the longer time frame. REG has gained 3.2% over the past six months and soared 21.8% over the past 52 weeks, notably outperforming SPX’s 2.2% dip over the past six months and 6.8% gains over the past year.
To confirm the bullish trend, REG has traded consistently above its 200-day moving average since late June 2024 and mostly above its 50-day moving average since late May with some fluctuations in recent months.
Regency Centers’ stock prices rose 1.5% in the trading session after the release of its impressive Q4 results on Feb. 6. The company observed strong tenant demand across its shopping centers and significant value creation through its investments platform. It reported strong rent growth and closed the year at record-high occupancy levels. Alongside it also experienced the highest level of annual volume of development and redevelopment in nearly 20 years. In Q4, Regency’s same property NOI excluding lease termination fees and the collection of receivables reserved during 2020 and 2021 increased by 4% and its overall revenues increased by 3.6% year-over-year to $372.5 million, exceeding the Street expectations by a notable margin.
Furthermore, its Nareit FFO per share increased 6.9% year-over-year to $1.09, which surpassed the consensus estimates by 1.9%, boosting investor confidence.
Moreover, Regency has notably outperformed its peer Federal Realty Investment Trust’s (FRT) 14.5% decline over the past six months and a 4.2% dip over the past 52 weeks.
Among the 17 analysts covering the REG stock, the consensus rating is a “Strong Buy.” Its mean price target of $79.88 represents an 8.3% premium to current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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