Harvest Portfolios Group Inc. lowered its position in Regency Centers Corporation (NASDAQ:REG – Free Report) by 26.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,634 shares of the company’s stock after selling 8,775 shares during the period. Harvest Portfolios Group Inc.’s holdings in Regency Centers were worth $1,700,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in shares of Regency Centers by 3.1% in the third quarter. State Street Corp now owns 12,403,992 shares of the company’s stock valued at $912,739,000 after acquiring an additional 368,031 shares during the last quarter. Boston Partners raised its stake in shares of Regency Centers by 2.1% in the third quarter. Boston Partners now owns 3,540,137 shares of the company’s stock valued at $258,062,000 after acquiring an additional 72,584 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Regency Centers in the third quarter valued at approximately $107,144,000. UBS Group AG raised its stake in shares of Regency Centers by 78.8% in the third quarter. UBS Group AG now owns 1,337,215 shares of the company’s stock valued at $97,483,000 after acquiring an additional 589,327 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Regency Centers by 10.8% in the third quarter. American Century Companies Inc. now owns 957,588 shares of the company’s stock valued at $69,808,000 after acquiring an additional 93,268 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on REG. UBS Group lifted their target price on shares of Regency Centers from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday. Scotiabank lifted their target price on shares of Regency Centers from $76.00 to $82.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 24th. Morgan Stanley lifted their target price on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Evercore set a $80.00 price target on shares of Regency Centers in a report on Friday, May 1st. Finally, Wells Fargo & Company raised their price target on shares of Regency Centers from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.71.
Regency Centers Stock Performance
Shares of Regency Centers stock opened at $77.74 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The firm has a market cap of $14.23 billion, a P/E ratio of 26.81, a P/E/G ratio of 3.28 and a beta of 0.82. The firm has a 50 day simple moving average of $77.61 and a 200 day simple moving average of $73.81. Regency Centers Corporation has a fifty-two week low of $66.86 and a fifty-two week high of $81.66.
Regency Centers Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be issued a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, June 12th. Regency Centers’s payout ratio is currently 104.14%.
Insiders Place Their Bets
In other news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total value of $626,708.62. Following the transaction, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of Regency Centers stock in a transaction on Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 460,032 shares of company stock valued at $35,996,456 in the last ninety days. Company insiders own 1.00% of the company’s stock.
Regency Centers Profile
Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.
Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.
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