CIBC Asset Management Inc Raises Holdings in Regency Centers Co. (NASDAQ:REG)

Posted by Defense World Staff on Jun 12th, 2023

CIBC Asset Management Inc boosted its stake in shares of Regency Centers Co. (NASDAQ:REG – Get Rating) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,704 shares of the company’s stock after purchasing an additional 1,327 shares during the quarter. CIBC Asset Management Inc’s holdings in Regency Centers were worth $1,419,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Bessemer Group Inc. increased its holdings in shares of Regency Centers by 72.4% in the 4th quarter. Bessemer Group Inc. now owns 4,202 shares of the company’s stock valued at $262,000 after acquiring an additional 1,764 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Regency Centers by 3,626.7% in the 4th quarter. Panagora Asset Management Inc. now owns 427,380 shares of the company’s stock valued at $26,711,000 after acquiring an additional 415,912 shares during the last quarter. Seeyond increased its holdings in shares of Regency Centers by 26.8% in the 4th quarter. Seeyond now owns 19,186 shares of the company’s stock valued at $1,199,000 after acquiring an additional 4,055 shares during the last quarter. AXS Investments LLC increased its holdings in shares of Regency Centers by 19.3% in the 4th quarter. AXS Investments LLC now owns 33,400 shares of the company’s stock valued at $2,088,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Regency Centers by 32.3% in the 4th quarter. Wells Fargo & Company MN now owns 171,463 shares of the company’s stock valued at $10,716,000 after acquiring an additional 41,877 shares during the last quarter. Hedge funds and other institutional investors own 88.58% of the company’s stock.

Regency Centers Price Performance

REG stock traded up $0.07 during midday trading on Monday, hitting $60.68. 199,946 shares of the stock were exchanged, compared to its average volume of 899,489. The stock’s 50-day moving average price is $58.93 and its 200-day moving average price is $60.89. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.13 and a beta of 1.16. Regency Centers Co. has a fifty-two week low of $51.97 and a fifty-two week high of $68.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Wednesday, June 14th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.60 annualized dividend and a yield of 4.28%. Regency Centers’s dividend payout ratio is presently 115.56%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on REG. Truist Financial dropped their price objective on Regency Centers from $73.00 to $71.00 in a report on Monday, May 15th. StockNews.com started coverage on Regency Centers in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Barclays increased their price objective on Regency Centers from $70.00 to $71.00 in a research report on Friday, May 19th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Regency Centers Profile

(Get Rating)

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.