UPDATE: Argus Downgrades Regency Centers (REG) to Hold

Argus analyst Jacob Kilstein downgraded Regency Centers (NASDAQ: REG) from Buy to Hold.

The analyst comments "We are lowering our rating on Regency Centers Corp. (NYSE: REG) to HOLD from BUY as the stock has exceeded our former target price of $53. Regency shares are up more than 16% over the past three months and 37% over the past six months, and appear fully valued at 17.7-times projected 2021 NAREIT FFO, above the five-year historical average of 15.2 and the peer average of 16.0. We would consider returning REG to our BUY list in the event of a nonfundamental pullback in the share price or an improvement in our fundamental outlook for the company."

For an analyst ratings summary and ratings history on Regency Centers click here. For more ratings news on Regency Centers click here.

Shares of Regency Centers closed at $56.66 yesterday.

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