Envestnet Asset Management Inc. increased its position in shares of Regency Centers Co. (NASDAQ:REG – Get Rating) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 265,304 shares of the company’s stock after buying 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 quarter.
A number of other institutional investors have also added to or reduced their stakes in REG. AlphaCrest Capital Management LLC bought a new stake in shares of Regency Centers in the 3rd quarter valued at approximately $699,000. Mutual of America Capital Management LLC grew its stake in shares of Regency Centers by 0.8% in 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. Royal London Asset Management Ltd. grew its stake in shares of Regency Centers by 0.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 70,877 shares of the company’s stock valued at $3,818,000 after purchasing an additional 308 shares during the period. MML Investors Services LLC grew its stake in shares of Regency Centers by 27.4% in the 3rd quarter. MML Investors Services LLC now owns 14,348 shares of the company’s stock valued at $773,000 after purchasing an additional 3,087 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Regency Centers in the 3rd quarter valued at approximately $173,000. 88.58% of the stock is owned by institutional investors and hedge funds.
Regency Centers Stock Down 1.7 %
NASDAQ:REG opened at $59.68 on Tuesday. The stock’s fifty day moving average price is $60.01 and its two-hundred day moving average price is $62.15. Regency Centers Co. has a 52-week low of $51.97 and a 52-week high of $69.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 0.86. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 3.81 and a beta of 1.15.
Regency Centers Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Wednesday, June 14th will be paid 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 (DPR) is currently 115.56%.
Regency Centers declared that its board has authorized a share buyback plan on Thursday, February 9th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. StockNews.com began coverage on Regency Centers in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Barclays upgraded Regency Centers from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $69.00 to $70.00 in a research report on Thursday, March 23rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Regency Centers has an average rating of “Moderate Buy” and a consensus price target of $68.36.
Insider Activity
In other news, CEO Lisa Palmer sold 15,180 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 106,000 shares of the company’s stock, valued at approximately $6,951,480. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.
Regency Centers 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.
Read More
- Get a free copy of the StockNews.com research report on Regency Centers (REG)
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