Meadow Creek Investment Management LLC boosted its stake in Regency Centers Corp (NYSE:REG) by 39.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,232 shares of the real estate investment trust’s stock after acquiring an additional 6,244 shares during the period. Meadow Creek Investment Management LLC’s holdings in Regency Centers were worth $1,484,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of REG. Korea Investment CORP increased its position in Regency Centers by 495.2% during the 2nd quarter. Korea Investment CORP now owns 12,500 shares of the real estate investment trust’s stock worth $834,000 after purchasing an additional 10,400 shares during the period. FMR LLC increased its position in Regency Centers by 1.6% during the 1st quarter. FMR LLC now owns 3,612,375 shares of the real estate investment trust’s stock worth $243,799,000 after purchasing an additional 57,663 shares during the period. Nisa Investment Advisors LLC increased its position in Regency Centers by 17.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 31,312 shares of the real estate investment trust’s stock worth $2,090,000 after purchasing an additional 4,752 shares during the period. Calamos Advisors LLC acquired a new position in Regency Centers during the 2nd quarter worth approximately $6,071,000. Finally, Robeco Institutional Asset Management B.V. increased its position in Regency Centers by 3.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 16,221 shares of the real estate investment trust’s stock worth $1,095,000 after purchasing an additional 477 shares during the period. Hedge funds and other institutional investors own 93.87% of the company’s stock.
In related news, insider Alan Todd Roth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $65.74, for a total value of $197,220.00. Following the sale, the insider now owns 8,001 shares of the company’s stock, valued at approximately $525,985.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas G. Wattles sold 2,073 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $65.47, for a total value of $135,719.31. Following the completion of the sale, the director now directly owns 49,085 shares in the company, valued at approximately $3,213,594.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,783 shares of company stock worth $639,965. 1.10% of the stock is owned by corporate insiders.
Shares of NYSE:REG traded down $1.00 during trading on Friday, hitting $68.07. 24,861 shares of the stock were exchanged, compared to its average volume of 861,809. The company has a fifty day moving average price of $65.38 and a two-hundred day moving average price of $66.46. The company has a market cap of $11.49 billion, a PE ratio of 18.50, a P/E/G ratio of 2.50 and a beta of 0.37. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. Regency Centers Corp has a 12-month low of $55.50 and a 12-month high of $70.26.
Regency Centers (NYSE:REG) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.01). The firm had revenue of $268.43 million for the quarter, compared to analysts’ expectations of $271.87 million. Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. During the same period last year, the firm earned $0.28 EPS. Equities research analysts anticipate that Regency Centers Corp will post 3.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were paid a $0.585 dividend. This represents a $2.34 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Friday, August 9th. Regency Centers’s payout ratio is currently 63.41%.
Several brokerages have recently commented on REG. Scotiabank raised Regency Centers from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $68.00 to $72.00 in a research note on Friday, August 16th. BMO Capital Markets set a $64.00 price target on Regency Centers and gave the stock a “hold” rating in a research note on Friday, August 2nd. Citigroup set a $76.00 price target on Regency Centers and gave the stock a “buy” rating in a research note on Monday, May 20th. Finally, Compass Point began coverage on Regency Centers in a research note on Thursday, August 15th. They set a “neutral” rating and a $67.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $68.83.
About Regency Centers
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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