Regency Centers downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank downgraded Regency Centers to Hold from Buy with a price target of $75, up from $70. The firm says its thesis of an “excessively discounted valuation” amid healthy shopping center fundamentals and a solid earnings outlook has largely played out. While Deutsche still view Regency”s development-focused strategy and opportunity to narrow its signed-not-commenced pipeline favorably, the stock’s current valuation multiples limit further upside unless there is a further earnings acceleration, the analyst tells investors in a research note.