Norges Bank acquired a new stake in shares of Regency Centers Corporation (NASDAQ:REG – Free Report) in the 4th quarter, HoldingsChannel reports. The firm acquired 17,147,133 shares of the company’s stock, valued at approximately $1,183,667,000. Norges Bank owned about 0.09% of Regency Centers as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pensionfund Sabic purchased a new stake in Regency Centers during the 4th quarter valued at approximately $1,339,000. Azzad Asset Management Inc. ADV raised its stake in shares of Regency Centers by 68.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company’s stock worth $3,697,000 after buying an additional 21,799 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of Regency Centers by 5.7% during the 3rd quarter. Centersquare Investment Management LLC now owns 351,963 shares of the company’s stock worth $25,658,000 after buying an additional 18,997 shares in the last quarter. M&T Bank Corp raised its stake in shares of Regency Centers by 168.6% during the 4th quarter. M&T Bank Corp now owns 25,931 shares of the company’s stock worth $1,791,000 after buying an additional 16,277 shares in the last quarter. Finally, Korea Investment CORP raised its stake in shares of Regency Centers by 61.9% during the 3rd quarter. Korea Investment CORP now owns 119,613 shares of the company’s stock worth $8,720,000 after buying an additional 45,734 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
REG has been the subject of a number of analyst reports. UBS Group increased their target price on Regency Centers from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Robert W. Baird set a $84.00 target price on Regency Centers in a research note on Tuesday, February 10th. Wells Fargo & Company increased their target price on Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday. Scotiabank increased their target price on Regency Centers from $76.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. Finally, Barclays increased their target price on Regency Centers from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $82.07.
Regency Centers Stock Performance
REG opened at $77.35 on Friday. The stock has a market cap of $14.16 billion, a P/E ratio of 26.67, a P/E/G ratio of 3.28 and a beta of 0.82. 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 stock’s 50 day simple moving average is $77.81 and its 200 day simple moving average is $74.23. Regency Centers Corporation has a 1-year low of $66.86 and a 1-year high of $81.66.
Regency Centers Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a $0.755 dividend. The ex-dividend date is Friday, June 12th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.9%. Regency Centers’s dividend payout ratio is currently 104.14%.
Insider Buying and Selling
In related news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider owned 33,069 shares in the company, valued at approximately $2,614,435.14. This represents a 19.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 450,032 shares of company stock worth $35,233,456. Insiders own 1.00% of the company’s stock.
Regency Centers Company 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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