Macquarie Group Ltd. Lowers Stock Position in Regency Centers Co. (NASDAQ:REG)

Posted by Defense World Staff on Mar 7th, 2023

Macquarie Group Ltd. cut its stake in shares of Regency Centers Co. (NASDAQ:REG – Get Rating) by 34.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 181,510 shares of the company’s stock after selling 96,142 shares during the period. Macquarie Group Ltd. owned 0.11% of Regency Centers worth $9,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its stake in shares of Regency Centers by 42.1% in the 3rd quarter. CWM LLC now owns 955 shares of the company’s stock valued at $51,000 after purchasing an additional 283 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in shares of Regency Centers in the third quarter valued at approximately $99,000. Wahed Invest LLC acquired a new stake in Regency Centers during the second quarter valued at approximately $109,000. Private Trust Co. NA acquired a new stake in Regency Centers during the second quarter valued at approximately $109,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Regency Centers in the 3rd quarter valued at approximately $117,000. Institutional investors and hedge funds own 88.58% of the company’s stock.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, CEO Lisa Palmer sold 15,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $65.58, for a total value of $995,504.40. Following the completion of the sale, the chief executive officer now owns 106,000 shares in the company, valued at $6,951,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

REG has been the subject of a number of research reports. Barclays increased 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 lifted their price target for the company from $70.00 to $72.00 in a research note on Friday, December 16th. Finally, Robert W. Baird raised shares of Regency Centers from a “neutral” rating to an “outperform” rating and set a $71.00 price objective on the stock in a research report on Thursday, January 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and a consensus target price of $68.27.

Regency Centers Price Performance

Shares of NASDAQ:REG opened at $63.65 on Tuesday. The stock has a market cap of $10.90 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 4.06 and a beta of 1.15. Regency Centers Co. has a 1-year low of $51.97 and a 1-year high of $73.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $64.44 and its two-hundred day simple moving average is $61.48.

Regency Centers (NASDAQ:REG – Get Rating) last posted its earnings results on Friday, February 10th. The company reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. Regency Centers had a return on equity of 7.59% and a net margin of 39.45%. The business had revenue of $314.52 million during the quarter, compared to analyst estimates of $305.23 million. During the same quarter in the previous year, the firm earned $1.01 EPS. As a group, analysts forecast that Regency Centers Co. will post 4.07 EPS for the current fiscal year.

Regency Centers announced that its board has approved a share repurchase program on Thursday, February 9th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Regency Centers Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 4.08%. Regency Centers’s payout ratio is 92.20%.

Regency Centers Company Profile

(Get Rating)

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.