Trustmark National Bank Trust Department Takes Position in Regency Centers Co. (NASDAQ:REG)

Trustmark National Bank Trust Department bought a new stake in shares of Regency Centers Co. (NASDAQ:REG) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 9,956 shares of the company’s stock, valued at approximately $719,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. PGGM Investments increased its holdings in shares of Regency Centers by 2,586.9% during the second quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after purchasing an additional 1,608,431 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Regency Centers by 10.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after purchasing an additional 873,062 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Regency Centers by 4.2% during the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock valued at $555,009,000 after purchasing an additional 357,091 shares during the period. abrdn plc raised its position in Regency Centers by 199.7% in the third quarter. abrdn plc now owns 375,059 shares of the company’s stock worth $27,006,000 after acquiring an additional 249,929 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC increased its stake in Regency Centers by 92.6% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 437,213 shares of the company’s stock worth $26,478,000 after purchasing an additional 210,161 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

REG has been the topic of a number of analyst reports. Mizuho lifted their price target on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut Regency Centers from a “buy” rating to a “hold” rating and boosted their price target for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. Robert W. Baird boosted their target price on Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Raymond James upped their price target on Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Evercore ISI upgraded Regency Centers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $76.92.

Regency Centers Stock Performance

Shares of REG stock opened at $74.53 on Friday. The stock’s fifty day simple moving average is $72.37 and its 200 day simple moving average is $67.60. Regency Centers Co. has a twelve month low of $56.51 and a twelve month high of $75.26. The firm has a market capitalization of $13.53 billion, a P/E ratio of 34.99, a P/E/G ratio of 4.09 and a beta of 1.21. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.65.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). The firm had revenue of $360.27 million for the quarter, compared to analyst estimates of $355.17 million. Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. During the same period last year, the company posted $1.02 earnings per share. As a group, sell-side analysts predict that Regency Centers Co. will post 4.28 EPS for the current fiscal year.

Regency Centers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be issued a $0.705 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 annualized dividend and a dividend yield of 3.78%. Regency Centers’s dividend payout ratio is currently 125.82%.

Regency Centers Company Profile

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.