Lazard Asset Management LLC boosted its stake in Regency Centers Co. (NASDAQ:REG – Get Rating) by 635.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,914 shares of the company’s stock after acquiring an additional 5,974 shares during the period. Lazard Asset Management LLC’s holdings in Regency Centers were worth $371,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in REG. HighTower Advisors LLC raised its position in shares of Regency Centers by 46.2% in the first quarter. HighTower Advisors LLC now owns 18,448 shares of the company’s stock valued at $1,309,000 after purchasing an additional 5,833 shares during the period. Private Advisor Group LLC bought a new stake in shares of Regency Centers in the first quarter valued at approximately $243,000. MetLife Investment Management LLC raised its position in shares of Regency Centers by 24.0% in the first quarter. MetLife Investment Management LLC now owns 42,220 shares of the company’s stock valued at $3,012,000 after purchasing an additional 8,175 shares during the period. Panagora Asset Management Inc. raised its position in shares of Regency Centers by 125.3% in the first quarter. Panagora Asset Management Inc. now owns 10,723 shares of the company’s stock valued at $765,000 after purchasing an additional 5,964 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Regency Centers by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,618 shares of the company’s stock valued at $1,471,000 after acquiring an additional 1,277 shares in the last quarter. Institutional investors own 88.58% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have commented on REG. Barclays raised their price target on shares of Regency Centers from $62.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, December 6th. JPMorgan Chase & Co. raised shares of Regency Centers from a “neutral” rating to an “overweight” rating and raised their price target for the company from $70.00 to $72.00 in a report on Friday, December 16th. Credit Suisse Group raised their price target on shares of Regency Centers to $63.00 in a report on Friday, November 4th. Finally, Robert W. Baird raised shares of Regency Centers from a “neutral” rating to an “outperform” rating and set a $71.00 price target for the company in a report on Thursday, January 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.
Insider Buying and Selling
Regency Centers Stock Performance
Regency Centers stock opened at $63.28 on Friday. The firm’s fifty day moving average price is $64.42 and its 200-day moving average price is $61.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $10.84 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 4.02 and a beta of 1.15. Regency Centers Co. has a fifty-two week low of $51.97 and a fifty-two week high of $73.41.
Regency Centers (NASDAQ:REG – Get Rating) last issued its earnings results on Friday, February 10th. The company reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $314.52 million for the quarter, compared to analysts’ expectations of $305.23 million. Regency Centers had a net margin of 39.45% and a return on equity of 7.59%. During the same quarter last year, the company earned $1.01 EPS. On average, equities research analysts expect that Regency Centers Co. will post 4.07 earnings per share for the current fiscal year.
Regency Centers Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Tuesday, March 14th. Regency Centers’s payout ratio is presently 92.20%.
Regency Centers announced that its Board of Directors has initiated a share repurchase program on Thursday, February 9th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Regency Centers Company Profile
Regency Centers Corp. operates as a real estate investment trust, which engages in the ownership, operation, and development of retail shopping centers. Its portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to its neighborhoods, communities, and customers.
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