Louisiana State Employees Retirement System Reduces Position in Regency Centers Co. (NASDAQ:REG)

Posted by Defense World Staff on Oct 12th, 2023

Louisiana State Employees Retirement System lessened its stake in shares of Regency Centers Co. (NASDAQ:REG – Free Report) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,500 shares of the company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Regency Centers were worth $587,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of REG. Spire Wealth Management lifted its holdings in Regency Centers by 175.1% in the 1st quarter. Spire Wealth Management now owns 476 shares of the company’s stock valued at $29,000 after purchasing an additional 303 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Regency Centers by 59.8% during the first quarter. Lindbrook Capital LLC now owns 545 shares of the company’s stock worth $33,000 after acquiring an additional 204 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Regency Centers by 86.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 542 shares of the company’s stock valued at $33,000 after acquiring an additional 252 shares in the last quarter. MV Capital Management Inc. lifted its position in Regency Centers by 10,411.1% in the first quarter. MV Capital Management Inc. now owns 946 shares of the company’s stock worth $58,000 after purchasing an additional 937 shares during the period. Finally, Tompkins Financial Corp bought a new stake in Regency Centers during the first quarter worth approximately $122,000. 90.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of recent research reports. Raymond James raised Regency Centers from a “market perform” rating to an “outperform” rating and set a $69.00 price target for the company in a research note on Tuesday, September 5th. StockNews.com started coverage on Regency Centers in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Argus upgraded shares of Regency Centers from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Wednesday, September 20th. They noted that the move was a valuation call. Finally, Bank of America dropped their target price on shares of Regency Centers from $79.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.78.

Read Our Latest Research Report on REG

Regency Centers Price Performance

NASDAQ REG opened at $59.97 on Thursday. The company has a market capitalization of $10.25 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 3.42 and a beta of 1.17. The firm’s 50 day moving average is $61.93 and its 200-day moving average is $61.00. Regency Centers Co. has a 12-month low of $53.17 and a 12-month high of $68.56. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.60.

Regency Centers (NASDAQ:REG – Get Free Report) last posted its earnings results on Friday, August 4th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.51). Regency Centers had a return on equity of 5.75% and a net margin of 29.33%. The company had revenue of $314.25 million for the quarter, compared to analyst estimates of $313.32 million. During the same quarter in the prior year, the business posted $1.00 EPS. Equities research analysts anticipate that Regency Centers Co. will post 4.15 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $2.60 annualized dividend and a dividend yield of 4.34%. Regency Centers’s dividend payout ratio is presently 121.50%.

Insider Activity

In related news, EVP Nicholas Andrew Wibbenmeyer sold 900 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $66.39, for a total value of $59,751.00. Following the transaction, the executive vice president now owns 18,749 shares in the company, valued at $1,244,746.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Regency Centers news, EVP Nicholas Andrew Wibbenmeyer sold 900 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $66.39, for a total transaction of $59,751.00. Following the completion of the sale, the executive vice president now directly owns 18,749 shares in the company, valued at $1,244,746.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 125,000 shares of Regency Centers stock in a transaction on Monday, August 7th. The shares were sold at an average price of $66.51, for a total value of $8,313,750.00. Following the completion of the transaction, the chairman now owns 343,399 shares in the company, valued at approximately $22,839,467.49. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

About Regency Centers

(Free Report)

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.