Upgrade Alert for Regency Centers (REG)
Regency Centers (NYSE:REG) was upgraded from Hold to Buy at Evercore ISI today. The stock closed yesterday at $69.45 on volume of 793,000 shares, above average daily volume of 514,000.
Regency Centers Corporation is a self-administered and self-managed real estate investment trust that owns and operates grocery anchored neighborhood retail centers. The Company currently owns and operates properties in various states located throughout the United States.
Regency Centers (NYSE:REG) has potential upside of 0.7% based on a current price of $69.49 and analysts' consensus price target of $69.97. The stock should find resistance at its 50-day moving average (MA) of $74.19, as well as support at its 200-day MA of $67.82.
Over the past year, Regency Centers has traded in a range of $55.79 to $85.35 and closed yesterday at $69.49, 25% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.4%.
SmarTrend recommended that its subscribers protect gains by selling shares of Regency Centers on August 15th, 2016 by issuing a Downtrend alert when the shares were trading at $80.40. Since that call, shares of Regency Centers have fallen 14.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades regency centers