Regency Centers initiated with an Equal Weight at Barclays

Barclays analyst Richard Hightower initiated coverage of Regency Centers (REG) with an Equal Weight rating and $77 price target as the firm launched coverage of six REITs across two new sub-sectors for the franchise, Shopping Centers and Malls / Outlets. Despite “obvious” concerns around tariffs and the slowing consumer, the firm believes that investors may be overpaying for the “perceived defensiveness of certain grocery-anchored portfolios,” says the analyst, who broadly favors companies with strong balance sheets and improving free cash flow profiles.