Envestnet Asset Management Inc. Purchases 10,192 Shares of Regency Centers Co. (NASDAQ:REG)

Posted by Defense World Staff on May 9th, 2023

Envestnet Asset Management Inc. increased its position in shares of Regency Centers Co. (NASDAQ:REG – Get Rating) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,304 shares of the company’s stock after purchasing an additional 10,192 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of Regency Centers worth $16,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC lifted its holdings in shares of Regency Centers by 9.1% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $112,000 after acquiring an additional 149 shares during the last quarter. Brinker Capital Investments LLC raised its holdings in Regency Centers by 5.3% in the 1st quarter. Brinker Capital Investments LLC now owns 3,215 shares of the company’s stock valued at $229,000 after buying an additional 161 shares during the last quarter. Greenleaf Trust raised its holdings in Regency Centers by 4.4% in the 3rd quarter. Greenleaf Trust now owns 3,916 shares of the company’s stock valued at $211,000 after buying an additional 165 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Regency Centers by 0.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 21,327 shares of the company’s stock valued at $1,148,000 after purchasing an additional 177 shares during the period. Finally, Laffer Tengler Investments increased its position in Regency Centers by 3.4% during the 3rd quarter. Laffer Tengler Investments now owns 5,774 shares of the company’s stock valued at $311,000 after purchasing an additional 192 shares during the period. Institutional investors own 88.58% of the company’s stock.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of recent analyst reports. Barclays raised shares of Regency Centers from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $69.00 to $70.00 in a research report on Thursday, March 23rd. StockNews.com initiated coverage on shares of Regency Centers in a research report on Thursday, March 16th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Regency Centers currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.36.

Insider Buying and Selling

In other Regency Centers news, CEO Lisa Palmer sold 15,180 shares of the firm’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $65.58, for a total transaction of $995,504.40. Following the transaction, the chief executive officer now directly owns 106,000 shares in the company, valued at approximately $6,951,480. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Regency Centers Price Performance

Shares of REG opened at $59.68 on Tuesday. Regency Centers Co. has a 12-month low of $51.97 and a 12-month high of $69.65. The business’s fifty day moving average is $60.01 and its 200 day moving average is $62.15. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market cap of $10.22 billion, a P/E ratio of 26.52, a P/E/G ratio of 3.81 and a beta of 1.15.

Regency Centers (NASDAQ:REG – Get Rating) last issued its earnings results on Friday, February 10th. The company reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. Regency Centers had a return on equity of 6.03% and a net margin of 31.08%. The company had revenue of $314.52 million for the quarter, compared to analysts’ expectations of $305.23 million. During the same period last year, the business earned $1.01 EPS. Sell-side analysts anticipate that Regency Centers Co. will post 4.08 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Wednesday, June 14th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, June 13th. Regency Centers’s dividend payout ratio is currently 115.56%.

Regency Centers declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 9th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About Regency Centers

(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.