RBC Capital Thinks Regency Centers’ Stock is Going to Recover

By Ryan Adsit

RBC Capital analyst Mark Mahaney reiterated a Buy rating on Regency Centers (NYSE: REG) today and set a price target of $70. The company’s shares closed last Friday at $61.45, close to its 52-week low of $58.63.

According to TipRanks.com, Mahaney is a top 25 analyst with an average return of 21.2% and a 72.8% success rate. Mahaney covers the Technology sector, focusing on stocks such as Global Payments Inc, IAC/InterActiveCorp, and Angie’s List Inc.

Currently, the analyst consensus on Regency Centers is Strong Buy and the average price target is $73.50, representing a 19.6% upside.

In a report issued on June 16, Jefferies also upgraded the stock to Buy.

Regency Centers’ market cap is currently $10.43B and has a P/E ratio of 179.31. The company has a book value ratio of 1.5669.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Regency Centers Corp. operates as a real estate investment trust, which engages in the ownership, management, leasing, acquisition, and development of retail shopping centers and has no other assets or liabilities other than through its investment through the Operating Partnership. The company was founded by Martin E. Stein Sr. and Joan W. Newton in 1963 and is headquartered in Jacksonville, FL.