Regency Centers price target raised to $79 from $72 at BTIG

BTIG analyst Michael Gorman raised the firm’s price target on Regency Centers (REG) to $79 from $72 and keeps a Buy rating on the shares. Operating fundamentals in the portfolio are strong, with 4.9% same-store NOI the strongest result since 2014 excluding Covid, providing a strong setup into 2025, the analyst tells investors in a research note. The company continues to build on its development pipeline, a key value creator in a market where there is very little new retail construction, the firm adds.