Regency Centers Co. (NASDAQ:REG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,301 shares of the company’s stock after selling 1,425 shares during the period. Retirement Systems of Alabama’s holdings in Regency Centers were worth $9,412,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Regency Centers by 1,138.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock worth $149,932,000 after acquiring an additional 1,908,153 shares during the period. Waterfront Capital Partners LLC bought a new stake in shares of Regency Centers in the 3rd quarter valued at approximately $33,628,000. Principal Financial Group Inc. increased its holdings in Regency Centers by 4.2% in the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock worth $555,009,000 after buying an additional 357,091 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Regency Centers by 701.7% during the 3rd quarter. National Bank of Canada FI now owns 361,597 shares of the company’s stock valued at $26,118,000 after purchasing an additional 316,496 shares in the last quarter. Finally, abrdn plc raised its holdings in Regency Centers by 199.7% during the third quarter. abrdn plc now owns 375,059 shares of the company’s stock valued at $27,006,000 after buying an additional 249,929 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Regency Centers Trading Up 1.0 %

Shares of REG stock opened at $75.40 on Tuesday. The company has a market capitalization of $13.69 billion, a P/E ratio of 35.40, a P/E/G ratio of 4.16 and a beta of 1.22. Regency Centers Co. has a 12-month low of $56.51 and a 12-month high of $76.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $73.27 and a 200 day moving average price of $69.53.

Regency Centers (NASDAQ:REG) last posted its earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). The firm had revenue of $360.27 million during the quarter, compared to the consensus estimate of $355.17 million. Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. During the same quarter last year, the firm posted $1.02 EPS. Research analysts forecast that Regency Centers Co. will post 4.28 earnings per share 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 dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio is presently 125.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on REG shares. Evercore ISI upgraded shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. KeyCorp began coverage on shares of Regency Centers in a research note on Friday, October 25th. They issued an “overweight” rating and a $80.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered Regency Centers from a “buy” rating to a “hold” rating and upped their target price for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. lifted their price target on shares of Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Scotiabank increased their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $77.08.

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.