Illinois Municipal Retirement Fund Sells 10,441 Shares of Regency Centers Co. (NASDAQ:REG)


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Illinois Municipal Retirement Fund cut its stake in Regency Centers Co. (NASDAQ:REG) by 17.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,269 shares of the company’s stock after selling 10,441 shares during the period. Illinois Municipal Retirement Fund’s holdings in Regency Centers were worth $2,794,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of REG. Norges Bank bought a new stake in Regency Centers in the 4th quarter valued at $737,615,000. BlackRock Inc. boosted its holdings in Regency Centers by 9.1% in the 4th quarter. BlackRock Inc. now owns 18,777,115 shares of the company’s stock valued at $856,049,000 after purchasing an additional 1,558,601 shares during the period. PGGM Investments boosted its holdings in Regency Centers by 8.0% in the 4th quarter. PGGM Investments now owns 5,343,426 shares of the company’s stock valued at $243,607,000 after purchasing an additional 395,391 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Regency Centers in the 4th quarter valued at $15,416,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Regency Centers in the 4th quarter valued at $14,862,000. 89.22% of the stock is owned by hedge funds and other institutional investors.

NASDAQ REG opened at $63.92 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.65. Regency Centers Co. has a 12-month low of $33.29 and a 12-month high of $64.63. The company has a market capitalization of $10.86 billion, a PE ratio of 236.75, a price-to-earnings-growth ratio of 9.26 and a beta of 1.03. The firm’s 50 day moving average is $59.00 and its 200-day moving average is $51.13.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Wednesday, February 10th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.06. Regency Centers had a net margin of 4.51% and a return on equity of 1.01%. As a group, sell-side analysts expect that Regency Centers Co. will post 3.01 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 6th. Investors of record on Monday, March 15th were issued a dividend of $0.595 per share. The ex-dividend date of this dividend was Friday, March 12th. This represents a $2.38 dividend on an annualized basis and a yield of 3.72%. Regency Centers’s payout ratio is 61.18%.

In related news, COO James D. Thompson sold 7,500 shares of the business’s stock in a transaction on Thursday, April 22nd. The shares were sold at an average price of $62.00, for a total transaction of $465,000.00. Following the transaction, the chief operating officer now directly owns 41,584 shares in the company, valued at $2,578,208. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Dan M. Chandler III sold 10,000 shares of Regency Centers stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $58.10, for a total transaction of $581,000.00. Over the last 90 days, insiders have sold 32,500 shares of company stock worth $1,976,000. 1.00% of the stock is owned by corporate insiders.

REG has been the topic of several recent research reports. Zacks Investment Research raised shares of Regency Centers from a “sell” rating to a “hold” rating and set a $60.00 target price on the stock in a research note on Monday, March 22nd. Morgan Stanley raised their target price on shares of Regency Centers from $38.00 to $47.50 and gave the company an “equal weight” rating in a research note on Wednesday, March 3rd. Argus reaffirmed a “hold” rating on shares of Regency Centers in a research note on Wednesday, March 10th. Wells Fargo & Company raised their target price on shares of Regency Centers from $52.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, March 16th. Finally, Robert W. Baird reissued a “neutral” rating on shares of Regency Centers in a research note on Monday, April 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.73.

Regency Centers Profile

Regency Centers Corp. operates as a real estate investment trust, which engages in the ownership, operation, and development of retail shopping centers. Its portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to its neighborhoods, communities, and customers.

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Institutional Ownership by Quarter for Regency Centers (NASDAQ:REG)

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