Public Employees Retirement System of Ohio Trims Stake in Regency Centers Corporation $REG

Public Employees Retirement System of Ohio reduced its holdings in Regency Centers Corporation (NASDAQ:REG) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 265,071 shares of the company’s stock after selling 24,812 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Regency Centers were worth $20,055,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Regency Centers in the 4th quarter valued at about $1,183,667,000. Principal Financial Group Inc. grew its holdings in shares of Regency Centers by 10.3% during the first quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company’s stock worth $756,967,000 after purchasing an additional 931,272 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Regency Centers during the fourth quarter worth about $56,480,000. Goldman Sachs Group Inc. increased its position in shares of Regency Centers by 75.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company’s stock worth $124,680,000 after purchasing an additional 775,609 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Regency Centers by 364.9% in the fourth quarter. AQR Capital Management LLC now owns 842,037 shares of the company’s stock worth $58,126,000 after purchasing an additional 660,896 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Regency Centers Stock Performance

NASDAQ:REG opened at $82.15 on Friday. The business has a 50 day moving average of $79.35 and a 200 day moving average of $77.11. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 3.48 and a beta of 0.80. Regency Centers Corporation has a 1-year low of $66.86 and a 1-year high of $83.66. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $0.755 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.02 annualized dividend and a yield of 3.7%. Regency Centers’s payout ratio is currently 104.14%.

Insiders Place Their Bets

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the sale, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. This represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $78.40, for a total value of $21,529,816.00. The disclosure for this sale is available in the SEC filing. Insiders sold 283,782 shares of company stock valued at $22,255,898 over the last three months. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

REG has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Raymond James Financial reissued an “outperform” rating and issued a $88.00 price target on shares of Regency Centers in a report on Monday, June 29th. Citigroup raised their price objective on shares of Regency Centers from $76.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Wells Fargo & Company lifted their price objective on shares of Regency Centers from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group lifted their price objective on shares of Regency Centers from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.06.

Regency Centers Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.