Mackay Shields LLC boosted its holdings in Regency Centers Corp (NYSE:REG) by 142.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,679 shares of the real estate investment trust’s stock after acquiring an additional 36,196 shares during the quarter. Mackay Shields LLC’s holdings in Regency Centers were worth $4,286,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen Asset Management LLC grew its stake in Regency Centers by 122.9% during the second quarter. Nuveen Asset Management LLC now owns 2,856,520 shares of the real estate investment trust’s stock worth $190,644,000 after buying an additional 1,575,165 shares during the last quarter. PGGM Investments grew its stake in Regency Centers by 54.0% during the second quarter. PGGM Investments now owns 4,070,645 shares of the real estate investment trust’s stock worth $271,675,000 after buying an additional 1,427,645 shares during the last quarter. Vanguard Group Inc. grew its stake in Regency Centers by 5.7% during the second quarter. Vanguard Group Inc. now owns 26,661,698 shares of the real estate investment trust’s stock worth $1,779,402,000 after buying an additional 1,427,631 shares during the last quarter. Invesco Ltd. grew its stake in Regency Centers by 12.7% during the second quarter. Invesco Ltd. now owns 4,092,710 shares of the real estate investment trust’s stock worth $273,146,000 after buying an additional 461,012 shares during the last quarter. Finally, Brookfield Asset Management Inc. grew its stake in Regency Centers by 23.0% during the second quarter. Brookfield Asset Management Inc. now owns 2,005,316 shares of the real estate investment trust’s stock worth $133,835,000 after buying an additional 374,516 shares during the last quarter. 93.87% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Dan M. Chandler III sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.15, for a total transaction of $228,025.00. Following the sale, the vice president now directly owns 15,457 shares of the company’s stock, valued at $1,007,023.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas G. Wattles sold 2,073 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $65.47, for a total transaction of $135,719.31. Following the sale, the director now directly owns 49,085 shares in the company, valued at $3,213,594.95. The disclosure for this sale can be found here. Insiders have sold 8,870 shares of company stock worth $581,412 over the last three months. 1.10% of the stock is owned by insiders.
Shares of REG traded down $0.91 during mid-day trading on Friday, hitting $64.66. 415,782 shares of the company traded hands, compared to its average volume of 864,635. Regency Centers Corp has a one year low of $55.50 and a one year high of $70.26. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average of $68.20 and a 200 day moving average of $67.01. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.50 and a beta of 0.37.
Regency Centers (NYSE:REG) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.62). Regency Centers had a net margin of 23.19% and a return on equity of 3.86%. The company had revenue of $282.28 million for the quarter, compared to the consensus estimate of $275.37 million. During the same period last year, the company earned $0.41 earnings per share. As a group, analysts anticipate that Regency Centers Corp will post 3.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.585 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.34 annualized dividend and a dividend yield of 3.62%. Regency Centers’s dividend payout ratio (DPR) is currently 63.41%.
Several analysts have weighed in on the stock. Barclays reaffirmed a “buy” rating and set a $75.00 price objective on shares of Regency Centers in a research note on Sunday, October 13th. Scotiabank cut shares of Regency Centers from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $66.00 price objective on shares of Regency Centers in a research note on Thursday, October 31st. Finally, Compass Point assumed coverage on shares of Regency Centers in a research note on Thursday, August 15th. They set a “neutral” rating and a $67.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $69.48.
Regency Centers Profile
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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